The Pricing Dilemma
Price too low and you're leaving money on the table. Price too high and nobody buys. Get it wrong at launch and changing prices later signals weakness.
The solution? Test pricing with your target market before you launch. Use simulated market research to find the optimal price point.
Pricing Testing Framework
Step 1: List your 3-4 most realistic price points based on competitive analysis and value delivered.
Step 2: Test each price with your target personas using TestSynthia. See which price maximizes both acceptance and perceived value.
Step 3: Layer in willingness-to-pay data. Are you capturing enough of the value you create?
Reading Price Test Results
Look for the 'sweet spot': the highest price where you maintain 70%+ purchase intent.
Check segment variation: Do different buyer personas have different price sensitivity? You might need tiered pricing.
Watch for the 'prestige paradox': Sometimes higher pricing actually signals better quality to certain segments.
From Test to Launch
Use test results to set your launch price with confidence. You have data, not guesses.
Plan for iteration: Test price changes in new markets or segments before raising prices on existing customers.
Remember: You can always adjust. Start slightly lower if uncertain, then raise prices as you prove value.