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Last Updated: May 25, 2024

How to quiz your audience and find the ideal price for your products and services

When launching a new product or service (and ideally before you build it), you can quiz your audience and ask them how much they would be willing to pay.

There are a few ways of asking, here are some options:

Option 1: Use the Van Westendorp Pricing Method

Here are 2 short videos about it.

You can also read this Wikipedia article.

Van Westendorp Example

Here are the 4 questions layed out in a quiz format so you can visualize it.

Question 1

At what price would this be so cheap that you would really question the quality?

  • $100
  • $200
  • $300
  • $400
  • $500
  • $1,000
  • $2,000

Question 2

At what price would you consider this a bargain?

  • $100
  • $200
  • $300
  • $400
  • $500
  • $1,000
  • $2,000

Question 3

At what price would this be getting on the expensive side for you?

  • $100
  • $200
  • $300
  • $400
  • $500
  • $1,000
  • $2,000

Question 4

At what price would this be too expensive that it would be prohibitive?

  • $100
  • $200
  • $300
  • $400
  • $500
  • $1,000
  • $2,000

If you use a tool like ScoreApp and your price is between 1 and $1,000, you could use a slider type of question.  

You can then plot your results, and find the sweet spot right at the bottom.

Van Westendorp sweet spot

See the 2 videos above to learn more.

Source: https://www.youtube.com/shorts/jX3yB7wDoBE

https://www.youtube.com/watch?v=NfoocYAuZN0

Option 2: You could ask them straight up like this.

How much would you be willing to pay?

  • Less than $100
  • $100 to $200
  • $200 to 500
  • $500 or more

Or if your product does provide a return on investment, tell them in the question, like this:

Provided you get a return-on-investment, how much would you be willing to pay?

  • Less than $100
  • $100 to $200
  • $200 to 500
  • $500 or more

Other ways to question your audience

Question

If a friend would have [solved their problem] with a $3,000 solution, would you consider it?

  • Yes
  • No

Follow-up Question

When would you buy?

  • Now.  Please call me.
  • in 2 weeks.
  • In 4 weeks.

Conclusion

Once you have found an optimal price, you can create multiple offers around that price, something cheaper that leads to your core offer, and something more premium for people willing to spend more.

If you need help creating and implementing your quiz, simply reach out.


Leave a comment or ask a question.

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Denis Ethier

I help startups and established businesses communicate the value of what they do using design, copywriting and the latest tools.

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