A simple price elasticity survey will allow you to get answers to essential business questions, such as:
- do customers not rate the price as too high?
- or maybe they consider the price too low?
- is the price crucial to your customers, or do they pay more attention to other issues such as quality, delivery method, etc.?
- how much can you raise the price so as not to lose customers?
Willingness to pay survey – questions
A well-conducted product price elasticity research will allow you to diagnose problems and plan specific improvements quickly. For the price survey to be successful, you need to ask the right questions. In the product price elasticity survey template, prepared by our experienced researchers, you will find questions such as:
- What price of [product name] would you consider so high that you would definitely not buy it?
- What price of [product name] would you consider so low that you would have the impression that its quality couldn’t be good?
- What price of [product name] would you consider high but still want to buy?
- What price of [product name] would be a good deal – an excellent buy for a reasonable price?
If you get answers to these questions, a simple analysis of the results is enough for you to draw conclusions quickly and implement the required changes in your pricing.
