Do you really know, what your customers are willing to pay for your products? Maybe the real willingness-to-pay of your customers is higher than you think. It is impossible to determine an accurate answer using questionnaires.
Our team has developed NeuroPricing®, an innovative, ground-breaking-approach, which allows us to measure willingness-to-pay for a product using EEG brain scans. Our method is superior in predicting real consumer behavior compared to conventional questionnaire-based pricing tools. With NeuroPricing® we support you to provide your product with the price which fits best your corporate strategy.
The problem is that most customers – intentionally or unintentionally – are not able to predict their future behavior regarding different prices. Thus, NeuroPricing® measures the real willingness-to-pay using a unique combination of EEG brain scans and psychophysiological measurements. You do not have to rely on explicit statements from your customers anymore. Instead use the NeuroPricing® Toolbox to know the unbiased and real willingness-to-pay of your customers.
Benefits of NeuroPricing®
Establish Perceived Value.
NeuroPricing® delivers how customers value a specific product and their willingness to pay for it. Increase your profits, marketing ROI, and improve your R&D efficiency by testing value before launch.
Predict the Demand curve. Customers cannot accurately state their future behavior. Our EEG brain scan data identify the demand curve with much higher precision than classic methods.
Optimize Price architectures. NeuroPricing® is the ideal tool to determine and optimize price architecture. Perceived value depends on the price portfolio and context. Hence it is crucial to measure these interactions in the mind of the customer accurately. We can test key value items using our high-precision EEG-NeuroPricing® and determine the rest of the price architecture based on our expertise in behavioral economics.
If you like to read more about the topic, we recommend the book “NeuroPricing – Wie Kunden über Preise denken” by Kai Markus Müller (English translation is in process). Or just simply write us an e-mail.
To measure the willingness-to-pay, we ran a university funded study. ... read more
Our clients wanted to know, which price students are willing-to-pay for a cup of latte macchiato from a vending machine located on the university campus. ... read more
Phone: +49 7191 34028-30
The Neuromarketing Labs GmbH
Prof. Dr. Kai-Markus Müller
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