Understand in Under 5: Van Westendorp Pricing Analysis

Market Research concepts under 5 minutes. Van Westendorp Price Sensitivity Meter (PSM) is a value-based pricing analysis to gauge customers' price preference for a new product or service. It's a common technique in market research. In this short video I will explain what it is, how to do it and what its benefits and drawbacks are. For more market research content, visit www.choicebased.com I am curious what your thoughts are - have you used the Van Westendorp pricing analysis before? What was your experience? Share your comments below - and don't forget to hit subscribe to see more market research concepts in under 5 minutes!