Thread: Testing a Price Point/ Feeling the Market?

I haven't heard of a solution that you're looking for. What you could do, however, is a couple of different things. Throw up a survey on your site that describes the product and asks for feedback on pricing, suggestions for features, etc. A GREAT site for this is Wufoo - HTML Form Builder - Free Contact Forms & Online Surveys ; they have a free trial version.

If you really wanted to get complicated you could setup numerous landing pages that are identical except for price and see the differences in signups, and just use google's analytics tools to do an a/b testing of sorts by serving up a different landing page.

You can do a split test on Google Adwords, offer the service for sale at two different price points. When the user clicks "Order Now" send them a page that says "over scheduled" (or some other deferment) -- this way you can gauge conversion at each price point.

Originally Posted by lo key

Having asked around with my friends/family etc, they all feel that 20 dollars is acceptable, but I wanted to get a larger test market in order to get a feel for the general price point. Since I am not providing an item, but rather a service, value is really what people perceive the value to be; unlike a real product which has production/shipping and other logistical issues that need to be accounted for.

Would it be appropriate to ask here for opinions on a price point or is this not the medium in which to do that?

Here's a big lesson that I learned when attempting to do the same thing: don't ask people for price point or product features who aren't your target market. Their opinions don't matter, and often only serve to confuse rather than clarify. Instead, create a list of questions, go out and find 20 people in your market and then pick their brains and take notes.

I'm sure it would be okay for you to ask opinions on price point here (that's what we're here for), just keep in mind what I just posted lol.

I run into the same situation at the moment. I know what many of my targeted customers paid to my competitors, but I was told not to under-bid in order to win their business.

My situation is this.
1. Most targeted customers don't want to pay too much, since economy is slow.
2. Don't want to under-bid against my competitors in order to win their business.
3. Can't bill them too cheap to make them wonder what the catch is

I think I will setup a price that is close to what my competitors have to offer and give them discount to start with. The most important thing is be able to cover my cost and investment within the next 1-3 years.

Go the Google split route as recommended, it's the only way to know for sure. Self-made "surveys" of friends etc are useless.

Hi

Full disclosure... My name is Paul Poutanen and I am the president and founder of mob4hire.com.

The discussion about market pricing etc. is very possible via Mob4hire.com

Really when you look at it, early market research via people is just another test that may be required at the aplha stage.

If you have an idea, it would be very possible to ask the testers to fill out a survey about what they think about a potential product via Mob4hire.

If you have specific questions please contact me via here.

Cheers PAul

Originally Posted by PhxMJ

You can do a split test on Google Adwords, offer the service for sale at two different price points. When the user clicks "Order Now" send them a page that says "over scheduled" (or some other deferment) -- this way you can gauge conversion at each price point.

Originally Posted by mob4hire

If you have an idea, it would be very possible to ask the testers to fill out a survey about what they think about a potential product via Mob4hire.


Cheers PAul

adword's testing vs. survey-

adwords- you are actually seeing how many click buy. This is real data.

survey- someones opinion about something. This someone may or may not be interested in the product, so they would need to do some mental work to get to the point of giving opinion on price.

If you want the purest results, us MJ's idea.

Originally Posted by mob4hire

Hi

Full disclosure... My name is Paul Poutanen and I am the president and founder of mob4hire.com.

The discussion about market pricing etc. is very possible via Mob4hire.com

Really when you look at it, early market research via people is just another test that may be required at the aplha stage.

If you have an idea, it would be very possible to ask the testers to fill out a survey about what they think about a potential product via Mob4hire.

If you have specific questions please contact me via here.

Cheers PAul

Hey Paul can you post an introduction in the INTRO forum and tell us about your company? Sounds very interesting. Thx!