{"id":17644,"date":"2023-09-23T11:01:04","date_gmt":"2023-09-23T09:01:04","guid":{"rendered":"https:\/\/www.centralmarketingintelligence.it\/price-setting-marketing-research-everything-you-need-to-know-about-it\/"},"modified":"2023-09-23T11:01:04","modified_gmt":"2023-09-23T09:01:04","slug":"price-setting-marketing-research-everything-you-need-to-know-about-it","status":"publish","type":"post","link":"https:\/\/www.centralmarketingintelligence.it\/en\/price-setting-marketing-research-everything-you-need-to-know-about-it\/","title":{"rendered":"Price setting &amp; marketing research: everything you need to know about it"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">This is how market research provides you with valuable information to determine the selling price of your products or services.<\/h2>\n\n\n\n<p>Setting the selling price of products or services, also known as <em>Pricing<\/em>, is a crucial procedure for companies and with a very high margin of error&#8230; If you don&#8217;t rely on <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/online-market-research-this-is-the-cmi-method-of-analysis\/\">market research<\/a>.<\/p>\n\n\n\n<p>In fact, a market survey can come to the <strong>aid of entrepreneurs<\/strong> and simply solve a problem that would lead to a delirious and probably disadvantageous situation for business.<\/p>\n\n\n\n<p>Are you also struggling, perhaps because you are starting a business or about to launch a new product\/service and don&#8217;t know what cost to define to <strong>attract consumers and outperform the competition<\/strong>?<\/p>\n\n\n\n<p>As you read this article, you will find relief from your concerns and learn how <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/online-market-research-this-is-the-cmi-method-of-analysis\/\">market surveys<\/a> help you strategically set prices.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Quanto costa una ricerca di mercato? Ecco la verit\u00e0!\" width=\"1020\" height=\"574\" src=\"https:\/\/www.youtube.com\/embed\/uoMzYT_pqGc?start=64&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">The benefits of market research dedicated to setting the selling price of products and services.<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/market-analysis-here-is-the-cmi-method\/\">Market analyses<\/a> geared toward pricing your products or services are what you need to make informed, sound decisions without risking reputational crises, sales declines, and many other <em>horror<\/em> scenarios.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"453\" src=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2020\/12\/crisi-reputazionale-post-definizione-dei-prezzi-errata.jpg\" alt=\"Reputational crisis post mispricing\" class=\"wp-image-12967\" srcset=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2020\/12\/crisi-reputazionale-post-definizione-dei-prezzi-errata.jpg 680w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2020\/12\/crisi-reputazionale-post-definizione-dei-prezzi-errata-377x251.jpg 377w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure>\n\n\n\n<p>Basically, pricing <strong>informed by marketing research <\/strong>allows you to:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Predict consumer response regarding the adoption of certain prices or the change in previous amounts.<\/li><li>To find out, in advance or in real time, the effects that certain prices have on market demand.<\/li><li>Adjusting prices to customers&#8217; needs while avoiding the much-feared reputation crises.<\/li><\/ul>\n\n\n\n<p>Knowing this information in advance through market research allows you to <strong>predict the impact of pricing on your company&#8217;s revenues <\/strong>. As you can well imagine, meticulous investigation can save you from failure and benefit your ROI instead.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Read also:<\/strong> <a href=\"https:\/\/www.centralmarketingintelligence.it\/ricerca-di-mercato-qualitativa\/(si%20apre%20in%20una%20nuova%20scheda)\">\n  <em>Qualitative market research: definition and meaning<\/em>\n<\/a><\/p><\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">How do you fine-tune accurate sales pricing?<\/h3>\n\n\n\n<p>In order to fine-tune a perfect price definition, it is necessary, first, to collect a large amount of data and, second, to analyze it taking into account precise variables.<\/p>\n\n\n\n<p>Delving even further into the topic, we can tell you that <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/online-market-research-this-is-the-cmi-method-of-analysis\/\">market research<\/a> that borders on perfection is that <strong>based on the collection and analysis of Big Data online <\/strong>.  <\/p>\n\n\n\n<p>This data is, precisely, public information expressed on the web by both your customers and your competitors (in fact, Pricing should preferably also include ad hoc<a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/competitor-analysis-5-reasons-to-entrust-them-to-central-marketing-intelligence\/\">competitor analysis<\/a> ) and product sales data in marketplaces such as Amazon.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.centralmarketingintelligence.it\/report-analisi-mercato-amazon\/?utm_source=centralmarketingintelligence&amp;utm_medium=banner&amp;utm_campaign=Landing_AmazonReport&amp;utm_content=Banner_articoliCMI_Report_Amazon\"><img loading=\"lazy\" decoding=\"async\" width=\"2408\" height=\"436\" src=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2021\/03\/vendi-meglio-amazon.png\" alt=\"\" class=\"wp-image-14411\" srcset=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2021\/03\/vendi-meglio-amazon.png 2408w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2021\/03\/vendi-meglio-amazon-480x87.png 480w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2021\/03\/vendi-meglio-amazon-768x139.png 768w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2021\/03\/vendi-meglio-amazon-1536x278.png 1536w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2021\/03\/vendi-meglio-amazon-2048x371.png 2048w\" sizes=\"auto, (max-width: 2408px) 100vw, 2408px\" \/><\/a><\/figure>\n\n\n\n<p>This is spontaneous and sincere information. Words and behaviors that can suggest the perfect price for your products or services.<\/p>\n\n\n\n<p>Pricing should always be informed by <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/3-reasons-why-you-should-consider-quantitative-market-research-without-neglecting-qualitative-research\/\">quantitative<\/a> (and, if possible, qualitative) <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/3-reasons-why-you-should-consider-quantitative-market-research-without-neglecting-qualitative-research\/\">market research<\/a> and be based on 6 main steps:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Defining the goals of the company&#8217;s Pricing strategy <\/strong>(e.g. pushing sales in a well-defined time period, reaching a particular market segment etc.).<\/li><li><strong>Demand identification, <\/strong>i.e., target customers&#8217; demand for the product and price perception of the product. The relationship between price and demand is analyzed by means of the demand curve.<\/li><li><strong>Estimation of the costs <\/strong>of production, distribution, and sale of products so that the defined prices can ensure a profitable Return on Investment, to be determined precisely during market research.<\/li><li><a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/competitive-analysis-competitive-intelligence-to-learn-the-secrets-of-your-competitors\/\">\n  <strong>Competitor analysis<\/strong>\n<\/a>, so you can peek at what your competitors are doing and adopt a better strategy.<\/li><li><strong>Determining Pricing strategy<\/strong> by considering one or more variables including consumer demand, estimated business costs, and competitor strategies (plus additional external factors that might influence consumers).<\/li><li><strong>Ultimate definition of the price of the product\/service <\/strong>based on the data analyzed and conclusions drawn about it.<\/li><\/ol>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"460\" src=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2020\/12\/definizione-del-prezzo-informata-dalle-analisi-di-mercato.jpg\" alt=\"pricing informed by market analysis\" class=\"wp-image-12970\" srcset=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2020\/12\/definizione-del-prezzo-informata-dalle-analisi-di-mercato.jpg 680w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2020\/12\/definizione-del-prezzo-informata-dalle-analisi-di-mercato-371x251.jpg 371w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/figure><\/div>\n\n\n\n<p>The pricing strategy must also consider possible adjustments in accordance with changes in the target market, new strategies of competitors, and changes related to market demand.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">When to request marketing research aimed at pricing?<\/h3>\n\n\n\n<p>Pricing strategies in marketing are useful in particular <strong>contexts<\/strong>, listed just below:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The most common case, which is the launch of new products or services, even when they belong to a pre-existing line.<\/li><li>The company&#8217;s expansion to the foreign market (we talk precisely about Geographic Pricing when the company decides to assess different prices based on the geographical region to which consumers belong).<\/li><li>The expansion of marketing strategies to a new market segment.<\/li><li>The adjustment of prices in case of discounts and promotions dedicated to particular segments (e.g. discounts for students under the age of 25).<\/li><li>The implementation of new marketing strategies.<\/li><li>The birth of a new company. In this case, it is necessary for pricing to be a small part of a significantly larger market search.<\/li><\/ul>\n\n\n\n<p>Pricing tends to be an <strong>ongoing<\/strong> process. It is not limited to a single survey but is repeated periodically according to market and business needs.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Read also: <\/strong><em>\n  <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/3-reasons-why-you-should-consider-quantitative-market-research-without-neglecting-qualitative-research\/\">3 reasons why you should consider quantitative market research (without neglecting qualitative research)<\/a>\n<\/em><\/p><\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">Do you need to define the price of your products\/services?<\/h3>\n\n\n\n<p>Then all you need is ad hoc market research that allows us to analyze your target market and suggest what prices you should offer in order to add your goals.<\/p>\n\n\n\n<p>Avoid DIY: it will lead you to make completely wrong choices!<\/p>\n\n\n\n<p><strong>Turn to a<a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/market-research-agency-we-are-the-007-thats-why\/\">market research agency<\/a><\/strong> that can provide you with the right answers to your marketing problems.<\/p>\n\n\n\n<p>We correct ourselves. Don&#8217;t turn to &#8220;just any&#8221; agency. Turn to us at <a href=\"https:\/\/www.centralmarketingintelligence.it\/en\/\">Central Marketing Intelligence<\/a> and request a survey based on solid, irrefutable data.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.centralmarketingintelligence.it\/contattaci\/\">Contact us now<\/a>.<\/strong> We are at your disposal.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2500\" height=\"586\" src=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2026\/01\/Banner-in-articolo-allargato-RDM-2500x586.png\" alt=\"Banner articolo RICERCA DI MERCATO\" class=\"wp-image-20735\" srcset=\"https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2026\/01\/Banner-in-articolo-allargato-RDM-2500x586.png 2500w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2026\/01\/Banner-in-articolo-allargato-RDM-480x113.png 480w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2026\/01\/Banner-in-articolo-allargato-RDM-768x180.png 768w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2026\/01\/Banner-in-articolo-allargato-RDM-1536x360.png 1536w, https:\/\/www.centralmarketingintelligence.it\/wp-content\/uploads\/2026\/01\/Banner-in-articolo-allargato-RDM-2048x480.png 2048w\" sizes=\"auto, (max-width: 2500px) 100vw, 2500px\" \/><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is how market research provides you with valuable information to determine the selling price of your products or services. Setting the selling price of products or services, also known as Pricing, is a crucial procedure for companies and with a very high margin of error&#8230; If you don&#8217;t rely on market research. In fact,&nbsp;[Leggi tutto]\n","protected":false},"author":6,"featured_media":17646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[111],"tags":[],"class_list":["post-17644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Price setting based on marketing research<\/title>\n<meta name=\"description\" content=\"Did you know that a definition of the sales price of products and services that benefits your ROI is informed by marketing research? &gt;Click here and read more!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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