Process / pipelinePricing research and value estimation
Willingness-to-Pay Estimation
Willingness-to-Pay (WTP) estimation encompasses methods for quantifying the maximum price consumers are willing to pay for a product, service, or feature. Developed through advances in marketing research and behavioral economics, WTP estimation helps organizations set optimal prices, allocate marketing budgets, value product features, and understand customer value perception.
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Sources
- Wertenbroch, K., & Skiera, B. (1998). Measuring Consumers' Willingness to Pay at the Point of Purchase. Journal of Marketing Research, 35(4), 460-469. DOI: 10.1177/002224379803500406 ↗
- Jedidi, K., Jagpal, S., & DeSarbo, W. S. (2003). A Stochastic Multidimensional Scaling Procedure for the Spatial Representation of Semantic Concepts. Journal of Marketing Research, 40(1), 72-85. DOI: 10.1509/jmkr.40.1.72.19130 ↗
- Backhaus, K., Erichson, B., & Plinke, W. (2016). Multivariate Analysis Methods and Applications (3rd ed.). Springer. DOI: 10.1007/978-3-662-46076-3 ↗