Price Sliders for pricing research
Pricing research often asks about the prices that individuals are willing to pay, a price range or, with the van Westendorp price monitor, four price points for expensive, too expensive, a bargain and too cheap. Using a price slider makes it easy to collect price preferences, while also ensuring that the price is in the right range and format, and that the logic of set of price points is correct.
Understanding price as more than a single point
Pricing is one of the more technical areas of market research since we have expectations of how prices work (we normally prefer lower prices - but not always) and questions about price need to take into account issues such as 'anchoring' and data entry. Using sliders allows the logic of a set of prices to be built in to the way the data is collected, and makes it easy to enter price as a range of values - from and to - not just a single price point.
The Cxoice price slider can also be used to capture all four points of the van Westendorp price sensitivity monitor, a popular way of understanding expected price ranges for a product or service.
An alternative to pricing with a slider is to use dials instead of typing in numbers.
Try and test a price slider question
You can freely edit variations in the Cxoice Questionnaire Creator, using 'Try it' to see how they work - no sign ups or downloads needed.
Available for individual projects or as part of a Cxoice Subscription.
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- Price slider for van Westendorp
- Try It
- Edit in Questionnaire Creator
