A survey tells about the opinion of the people on a specific research-based topic. It plays a significant role in collecting the respondents’ responses to derive analytical results. Research-based surveys or other kinds of surveys are used for collecting data and information from people. The people give their opinion. It may be about some research-based topic or it may be about the company’s products and services.
Online Survey Template
It’s a piece of cake to collect respondents’ responses digitally without any physical effort. In the past, people were forced to fill out the written questionnaire for submission and that was an inefficient way of collecting data. But nowadays, one can easily give their opinion by filling the questionnaire online and submitting it digitally.
Everyone can easily create an online survey template according to the questionnaire type requirement and can send it to the people either by Email or other survey links.
Van Westendorp is a survey technique that is used to finalize product service by identifying the demanding price for the customers. The respondents are given four points counting different price parameters and they are forced to choose the best manageable price for the product. The survey is important for the company to fix a reasonable price for the product that is affordable for the customers to boost maximum sales and revenue.
Why is the Van Westendorp template necessary for product pricing?
It’s very important for product pricing as it is also called a pricing research survey. It’s not a piece of cake for the company to launch any product in the market without a proper pricing research methodology. It’s an era of competition and if a company wants to excel from the competitors in the market then proper research is mandatory.
The respondents choose one of the options to give their interest in buying that product. In this way, one can easily identify the flexible price of the product. The four points include:
- Too expensive and not considering to buy
- Expensive one but considering to buy
- It’s a bargain price
- Too cheap and the quality is questionable
These four points selected by respondents would indicate the maximum attraction of the customers to which price ranges. If the results are in favor of the second point then the company can maintain its price value to the maximum.
When to use Van Westendorp Survey Template?
It is used in finalizing the price of the new launching product. It is used for pricing research methodology to identify the reasonable and acceptable price of the product for the customers in which they show a positive response to boost your product sale. Before launching a new product or software in the market you must get the opinion of the people to finalize the ideal price. The ideal price is the main key to get customers’ attraction and competing with the competitors.
If most people select a bargain price option then you must choose a price that is between too expensive and too cheap and finalize an ideal product price. In this way, you can directly interact with the buying audience to sell your company’s products and services. Normally, people choose a mid-range price product that is affordable for them. If you are launching new products to compete with your competitors then you must choose a normal price for them.