Concept Evaluation and Pricing Study Survey Template

Concept Evaluation and Pricing Study Survey Template can be used by any business or organization who is keen on collecting feedback from a target audience related to an upcoming product pricing and feature concepts. When an organization or a business has a an idea that they want to get right, concept evaluation and pricing study questionnaire can save a lot of time and money to concept test before bringing it out to the world. Concept evaluation and pricing study survey allow to refine a product concept, create good ad campaigns, new logo etc.



   
 
This survey is about a new [product/service] concept that is described as follows:

[ENTER PRODUCT/SERVICE DESCRIPTION HERE]
 
   
About how many units of this new product would you buy over the next year at each price point listed below?
Would Not Buy Volume 1 Volume 2 Volume 3 Volume 4
FMV + 30%
FMV + 20%
FMV + 10%
FMV + 5%
FMV
FMV - 5%
FMV - 10%
FMV - 20%
FMV - 30%
 
   
 
How would you best describe your familiarity with a product/service like that described above?
 
I was not aware of such a product/service
 
Only generally aware
 
Have investigated or researched such products
 
Have been demoed with a product like this
 
Have purchased or regularly use a product like this
 
   
 
If you are a current user, how long have you used [Product/Service]?
 
Under 1 month
 
1-6 months
 
6 months to 1 year
 
1-2 years
 
3 years or more
 
Do not currently use
 
   
 
How often could you find a use for this [Product/Service]?
 
Once a week or more often
 
2-3 times a month
 
Once a month
 
Every 2-3 months
 
2-3 times a year
 
Once a year
 
Do not use
 
   
 
Based on the description, how interested would you be in buying this new [Product/Service] if priced within your budget?
 
Not at all interested
 
Not very interested
 
Not sure
 
Somewhat interested
 
Very interested
 
   
 
What is it that you like most about the [Product/Service]?
   
 
   
 
What do you like least about the [Product/Service]?
   
 
   
 
Which of the following best describes your need for this product?

 
I really need this product because nothing else can solve this problem.
 
This is a minor improvement over what I currently use.
 
Looks okay but is about the same as what I'm using now.
 
My current product would serve me better.
 
I am not at all interested in this product.
 
   
 
About what would you expect to pay for a new [Product/Service] like the one described? (Nearest dollar)
   
 
   
 
At what price would this new product begin to look inexpensive or cheap? Select one.
 
FMV + 30%
 
FMV + 20%
 
FMV + 10%
 
FMV + 5%
 
[Enter estimated FMV]
 
FMV - 5%
 
FMV - 10%
 
FMV - 20%
 
FMV - 30%
 
   
 
At what price would the product begin to look too expensive? Select one.
 
FMV + 30%
 
FMV + 20%
 
FMV + 10%
 
FMV + 5%
 
[Enter estimated FMV]
 
FMV - 5%
 
FMV - 10%
 
FMV - 20%
 
FMV - 30%
 
   
 
At what price would the product begin to look so expensive that you would never consider buying it?

 
FMV + 30%
 
FMV + 20%
 
FMV + 10%
 
FMV + 5%
 
[Enter estimated FMV]
 
FMV - 5%
 
FMV - 10%
 
FMV - 20%
 
FMV - 30%
 
   
 
If you knew that the average price of [Product/Service] was $[Enter Price], would you expect to pay more or less to buy the described product/service?
 
(20-30%) more
 
(5-10%) more
 
No more, no less
 
(5-10%) less
 
(20-30%) less
 

Why conduct Concept Evaluation and Pricing Study Survey?

  • This survey is a way to get a quick concept and price testing within the target audience. This is one of the best ways to gain market insights on new business ideas before making investment decisions.
  • For example, if a marketing team of a certain organization is brainstorming to come up with ideas for a new product and the price range that will be best suited to the customers.
  • At the end of the day there are a number of options available on the table and still, the team is unsure what should be the right approach.
  • The best way to handle this is to deploy the concept evaluation and pricing study survey and ask absolutely relevant questions in the survey. In this survey carefully created by QuestionPro, questions are direct and help collect appropriate and straightforward answers.
  • The answers to these questions make it easy to choose a concept and price to go with and they help sharpen the final product.

Best Uses of Concept Evaluation and Pricing study Survey

Concept evaluation and pricing study is an initial investigation of potential consumers’ reaction to a proposed feature or price range or even services before introducing the product or service into a market. When a business or organization decides to launch a product or service, concept evaluation and pricing study survey is a valuable step to identify consumer perceptions, what their needs are.

Following are the best uses of concept evaluation and pricing study survey:

  • By deploying this survey to a target audience, an organization or a business can gain a first-hand knowledge about what the audience thinks that reflects the value a business or an organization provides versus their competitors.
  • Once the audience responds to the survey, businesses or organization gain data-oriented market insights on how the market will respond to the introduction of this product in terms of pricing and products/services absorption, which in turn will help them put a cap on pricing.
  • Using the concept evaluation and pricing study survey organizations and businesses can collect meaningful insights and plan their strategic moves regarding concepts and pricing of product and services that will, in turn, help them reach their revenue and market share goals.

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