--- title: 5 Ways Price Research can Help with New Product Pricing description: Learn about how price research can help improve new product development in general and new product pricing in particular. image: https://blog.pricebeam.com/hubfs/Images/DirectIndirectPricingManagement.jpg --- [Skip to content](https://blog.pricebeam.com/5-ways-price-research-can-help-with-new-product-pricing#main-content) [![PriceBeam](https://blog.pricebeam.com/hs-fs/hubfs/lead-flow-images/PBLogoTransparent%20(1).png?width=400&height=100&name=PBLogoTransparent%20(1).png)](https://www.pricebeam.com/) - Solutions ![RGM360](https://blog.pricebeam.com/hs-fs/hubfs/RGM360_Headlines.png?width=319&height=255&name=RGM360_Headlines.png)[PriceBeam RGM360](https://www.pricebeam.com/rgm360) is an end-to-end Revenue Optimization Platform, offering unmatched value by integrating market research, internal data with AI and next-generation simulation and optimization tools. 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[FAQ](https://www.pricebeam.com/rgm-optimizer-simulator-faq) - Industries & Challenges Industries - [FMCGs/CPG](https://www.pricebeam.com/consumer-goods-pricing) - [Cosmetics](https://www.pricebeam.com/cosmetics-pricing) - [Beverages](https://www.pricebeam.com/beverage-pricing) - [Beer, Wine & Spirits](https://www.pricebeam.com/alcoholic-beverage-pricing) - [Apparel](https://www.pricebeam.com/apparel-pricing) - [Home Care](https://www.pricebeam.com/home-care-pricing) - [Home Appliances](https://www.pricebeam.com/home-appliances-pricing) - [Food Products](https://www.pricebeam.com/food-products-pricing) - [Pet Food](https://www.pricebeam.com/pet-food-pricing) - [DIY & Home Improvement](https://www.pricebeam.com/diy-pricing) - [Consumer Services](https://www.pricebeam.com/consumer-services-pricing) - [Media & Publishing](https://www.pricebeam.com/media-and-publishing-pricing) - [Hotels & Hospitality](https://www.pricebeam.com/hospitality-pricing) - [Subscription Services](https://www.pricebeam.com/subscription-services-pricing) - [Phones & Telecom](https://www.pricebeam.com/telecommunication-pricing) - [Memberships](https://www.pricebeam.com/membership-pricing) - [Training & Education](https://www.pricebeam.com/training-and-education-pricing) - [Retail](https://www.pricebeam.com/retail-pricing) - [E-commerce](https://www.pricebeam.com/ecommerce-pricing) - [Events](https://www.pricebeam.com/event-pricing) - [Sports Subscriptions](https://www.pricebeam.com/sports-subscription-pricing) - [Streaming](https://www.pricebeam.com/video-on-demand-pricing) - [Consumer Electronics](https://www.pricebeam.com/consumer-pricing-electronics) - [Start-ups](https://www.pricebeam.com/entrepreneur-pricing) - [SaaS & Software](https://www.pricebeam.com/saas-software-pricing) - [Consumer Finance](https://www.pricebeam.com/consumer-finance-pricing) - [Equity Analysis](https://www.pricebeam.com/equity-analysis-pricing-insights) - [Veterinary Products](https://www.pricebeam.com/veterinary-products-pricing) - [OTC Pharmaceuticals](https://www.pricebeam.com/otc-pharmaceuticals-pricing) - [Automotive](https://www.pricebeam.com/automotive-pricing) - [Auto Aftermarket](https://www.pricebeam.com/automotive-aftermarket-pricing) Pricing Challenges Solved - [Pricing New Products](https://www.pricebeam.com/pricing-new-products) - [Brand Health & Pricing](https://www.pricebeam.com/brand-health-pricing) - [M&A Pricing](https://www.pricebeam.com/mergers-and-acquisitions-pricing) - [Investment Portfolios & Pricing](https://www.pricebeam.com/portfolio-growth-pricing) - [Price Segmentation](https://www.pricebeam.com/price-segmentation) - [Sales Team & Pricing](https://www.pricebeam.com/sales-team-pricing) - [International Pricing](https://www.pricebeam.com/international-pricing) - [Navigating New Tariffs](https://www.pricebeam.com/tariffs) - [Price Optimization](https://www.pricebeam.com/price-optimization) - [Price Increases](https://www.pricebeam.com/price-increase-management) - [Pricing Strategy](https://www.pricebeam.com/pricing-strategy) - [Psychological Pricing](https://www.pricebeam.com/psychological-pricing) - [Value-Based Pricing](https://www.pricebeam.com/value-based-pricing) - [Lifecycle Pricing](https://www.pricebeam.com/lifecycle-pricing) - [Market Launch Pricing](https://www.pricebeam.com/market-launch-pricing) - [Value Communication](https://www.pricebeam.com/value-communication) - [Assortment Pricing](https://www.pricebeam.com/assortment-pricing) - [Promotions & Discounts](https://www.pricebeam.com/promotion-pricing) - Plans - [Plans overview](https://www.pricebeam.com/plans) - [Predictive Research Plans](https://www.pricebeam.com/predictive-research-plans) - [RGM Data Lake Plans](https://www.pricebeam.com/rgm-data-lake-plans) - [RGM Optimizer Plans](https://www.pricebeam.com/rgm-optimizer-simulator-plans) - [Pricing Power Tracker](https://www.pricebeam.com/pricing-power-tracker) - [Pricing Power Snapshot](https://www.pricebeam.com/pricing-power-snapshot) - Resources - [Webinars](https://www.pricebeam.com/resources) - [Blog](https://blog.pricebeam.com) - [Case Studies](https://www.pricebeam.com/customer-case-studies) - [Newsletter](https://www.pricebeam.com/newsletter) - [RGM Pulse Survey 2026](https://www.pricebeam.com/rgm-pulse-survey-2026) - About - [Company](https://www.pricebeam.com/about) - [News & Events](https://www.pricebeam.com/news) - [Partners](https://www.pricebeam.com/partners) - [Press](https://www.pricebeam.com/press) - [Careers](https://www.pricebeam.com/careers) - [Contact](https://www.pricebeam.com/contact) ![Search icon](https://5018647.fs1.hubspotusercontent-na1.net/hubfs/5018647/Design/Icons/Font%20Awesome/search.svg) [All posts](https://blog.pricebeam.com/all) January 26, 2018 # 5 Ways Price Research can Help with New Product Pricing ![Picture of PriceBeam](https://blog.pricebeam.com/hs-fs/hubfs/Images/PBLogoBadge240x240.png?width=50&name=PBLogoBadge240x240.png)   PriceBeam  ·  2 minute read ![DirectIndirectPricingManagement.jpg](https://blog.pricebeam.com/hs-fs/hubfs/Images/DirectIndirectPricingManagement.jpg?width=770&height=289&name=DirectIndirectPricingManagement.jpg) Launching new products or services can be a daunting task. With everything from product development, marketing, sales training, customer communication, as well setting the price. Price research can help in various ways with these challenges. **1: Understand overall price expectations:** with price research you can ask both current customers and potential customers about their willingness-to-pay. You can test WtP overall against your final new product, but price research can also be used to [test different product concepts](https://www.pricebeam.com/comparative-willingness-to-pay) while the overall product design is still on the drawing board. Or, you can test preferences for product features by using a [conjoint analysis based method to](https://www.pricebeam.com/Value-Attributes) determine what value customers put behind each feature..   **2: Understand value drivers:** Getting insights into what features and attributes of the new product that customers value the most can be of huge importance, not only after having launched the new product but also in the concept and product development phase. If customers value feature A highly but don't really care (value-wise) about feature B, then either improve on feature B or remove it, and of course highlight feature A in all communication and maybe even make it better. [Price research based on conjoint analysis](https://www.pricebeam.com/Value-Attributes) can provide such insights. **3: Identify the best suited customer segments:** Sometimes new product launches help reach new customer segments. It can be because the new product is more premium than the existing product, or perhaps because it solves new and additional customer challenges. Similarly, price research can be done by customer segment, and insights into overall willingness-to-pay, as well as the individual features and value attributes, can also easily be found through a segmented market research approach. **4: Support price and general communication:** Knowing what customers are willing to pay of course helps with the price setting itself. But it also can provide tremendous value when it comes to how and and what to communication on once launched. If feature A is highly valued and feature C is only of medium value versus what the competition can provide, then of course it is Feature A that needs to be most prominent in communication. Price research can help take the guesswork out of that process and deliver solid facts about what to emphasize in the communication. **5: Position against current product portfolio or competitive products:** Use price research to test willingness-to-pay for both the new product but also existing products or even competitors. PriceBeam's comparative analysis or value-attribute analysis both allow managers to understand the differences in willingness-to-pay that customers put on different product versions, including own existing products, different iterations of new products or competitive products. We compare the willingness-to-pay responses and isolate statistically what comes from each product version. This is also very useful for when the new product typically gets a higher price than the existing one.     Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.pricebeam.com/5-ways-price-research-can-help-with-new-product-pricing) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.pricebeam.com/5-ways-price-research-can-help-with-new-product-pricing) [twitter icon](https://twitter.com/intent/tweet?url=https://blog.pricebeam.com/5-ways-price-research-can-help-with-new-product-pricing) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.pricebeam.com/5-ways-price-research-can-help-with-new-product-pricing) [envelope icon](mailto:?body=https://blog.pricebeam.com/5-ways-price-research-can-help-with-new-product-pricing) ## Related posts [![](https://blog.pricebeam.com/hubfs/Images/pbscreenshotcomposite.png)](https://blog.pricebeam.com/testing-product-concepts-with-price-research) [Pricing](https://blog.pricebeam.com/topic/pricing) #### [Testing Product Concepts with Price Research](https://blog.pricebeam.com/testing-product-concepts-with-price-research) [![Pricing New Product Development](https://blog.pricebeam.com/hubfs/Pricing_New_Product_Development.png)](https://blog.pricebeam.com/webinar-pricing-in-new-product-development-from-afterthought-to-integral-part-of-the-process) [new product pricing](https://blog.pricebeam.com/topic/new-product-pricing) #### [Sign up for Webinar: Pricing in New Product Development - From Afterthought to Integral Part of the Process](https://blog.pricebeam.com/webinar-pricing-in-new-product-development-from-afterthought-to-integral-part-of-the-process) [![Hand drawing image of businessman. Business challenge](https://blog.pricebeam.com/hubfs/Stock%20images/Hand%20drawing%20image%20of%20businessman.%20Business%20challenge.jpeg)](https://blog.pricebeam.com/webinar-recording-setting-the-right-price-for-new-products-or-services) [innovation](https://blog.pricebeam.com/topic/innovation) #### [New webinar recording: Setting the Right Price for New Products or Services](https://blog.pricebeam.com/webinar-recording-setting-the-right-price-for-new-products-or-services) **Pricing Right, Made Easy** Almost all companies struggle to price right. They use methods such as cost plus a fixed margin. They use guesses and gut feel. They peg their price to a competitor’s. They price themselves too low, leaving money on the table, or too high, forsaking sales volume. They lose out on the profits they should be earning. PriceBeam changes all that. With a methodology that is confirmed to be accurate in thousands of projects, PriceBeam provides AI-powered market insights software that generates actionable insights into consumers' willingness-to-pay, competitive price positioning, packaging and assortment dynamics, promotional benchmarking, and opportunities from new product pricing. 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