Smarter Pricing: How to capture more value in your market

Perils of price questions

Probing intentions and preferences around price has perils. All the approaches and techniques mentioned carry with them the risk that predicted behaviour may not occur in practice. Any survey about price holds dangers that people will not be able to reflect their normal behaviour in an artificial environment. They may exaggerate the importance of price when the researcher focuses his or her attention on this element, or may be distracted by numerous appealing features, so that the role that price has in making real decisions is underplayed.

For this reason the most reliable findings come when real people are making normal decisions in a familiar environment. If it is possible to use actual behaviour as the guide then ...