Price Sensitivity (Van Westendorp)
Use the Van Westendorp method to determine the accepted price range of your product – through four targeted price questions from too cheap to too expensive.
The Van Westendorp Price Sensitivity Meter derives the accepted price range and indications of the optimal price point from four price questions. Respondents state the price at which a product seems too cheap, cheap, expensive or too expensive. The intersections of the resulting curves reveal the lower price limit, upper price limit and the optimal price.
When should you use this template?
This template is a great fit for:
- When setting the price for a new product
- Before adjusting prices in an existing range
- To determine the accepted price range in the market
Every question in this template
- 1Single choice
How familiar are you with this type of product?
- Very familiar, I use it regularly
- Somewhat familiar
- Not very familiar
- Not familiar at all
- 2Number
At what price in euros would the product be so cheap that you would doubt its quality?
123 - 3Number
At what price in euros would the product be cheap and a good deal?
123 - 4Number
At what price in euros does the product start to seem expensive, but you would still consider it?
123 - 5Number
At what price in euros would the product be so expensive that you would not buy it?
123
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- Gabor-Granger Price TestThe classic pricing method: purchase intent at several price points yields a demand curve and the revenue-optimal price.
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Frequently asked questions
How are the results analysed?
Do respondents need to know the product?
Start with this template
Load the template into DataLion, adapt it to your brand and start collecting responses — GDPR-compliant, in minutes.