The Van Westendorp method uses a series of questions, given to respondents to identify key psychological price points to understand how much they’re willing to pay for a product.
It enables the marketer to see a range of prices that might be appropriate, and to see the fall off in consumer interest that occurs as price rises.
It can be particularly useful if the marketer is contemplating a change in pricing, or wants to understand consumer perceptions of own products vs. a competitor’s products.
How do I setup Van Westendorp question type?
To add Van Westerndorp question:
Go to: Login » Survey (select a survey) » Edit » Workspace.
Click on add question button.
Under advanced question types » customer satisfaction, click on Van Westerndorp question.
Customize the question text and answer values.
Under settings, you can set minimum and maximum value that a respondent can enter as price.
Validation: By default, validation option is turned off. Respondents can skip and move ahead in the survey without answering the question. You can enable validation if you don't want to allow respondents to skip this question. By enabling validation option you can see a drop-down with options - force response and request response.
Force response option makes a question mandatory/required, as shown in the above image. The respondents cannot finish survey without answering a mandatory question.
When you select request response, the respondent gets a pop-up in case a question is not answered, requesting to answer the question or continue survey without answering.
How does Van Westerndorp question work?
While taking the survey, the respondent needs to enter the price that they consider for each category - too expensive, expensive/high side, cheap/good value and too cheap.
How do I view the report for Van Westerndorp question?
To view the report for Van Westerndorp question:
Go to: Login » Surveys (select a survey) » Analytics » Dashboard.
You can see the following chart:
In the above chart, the responses for too expensive, expensive, bargain and cheap categories can be seen. The blue part shows the acceptable range of prices for the product.
Turn pricing perception into decisions with Van Westerndrop and Gabor-Granger
This feature is available with the following license :