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sSelling your product and services at the right price to maximize profits has become increasingly important and more difficult for medical industry vendors who are battling greater competition and increased pricing sensitivity among hospitals and healthcare facilities.  Simply asking potential customers “what are you willing to pay?” will quickly lead your marketing & pricing teams astray. We provide a set of proven, validated, and accurate methods to help you better determine willingness to pay, pricing sensitivity, and profit- or revenue-maximizing pricing. 

 

Solutions TMTG provides for you:

• Identify acceptable price range

• Define customer’s price sensitivity

• Assist in pricing model selection for profit and revenue maximization

Methodologies typically used include:

• Van Westendorp Price Sensitivity Meter: a crude technique to explore an initial price range

• Cascading Price Analysis: to test specific price points

• Conjoint Analysis (CBC) or Adaptive Conjoint (ACBC) that set the foundation for a preference and even a demand model, recognized to be the most reliable framework for pricing research, Revenue, Profit, and Market Share Modeling

• Market simulators: PROfiler™, simPRO™, REACTOR™

 

Case Study:

• Optimizing Pricing Strategy for a Product Portfolio