Van Westendorp's Price Sensitivity Meter
The Price Sensitivity Meter (PSM) is a market technique for determining consumer price preferences. It was introduced in 1976 by Dutch economist Peter van Westendorp. The technique has been used by a wide variety of researchers in the market research industry. The PSM approach was a staple technique for addressing pricing issues for the past 20 years. It historically has been promoted by many professional market research associations in their training and professional development programs. The PSM approach continues to be used widely throughout the market research industry and descriptions can be easily found in many market research websites.
Read more about Van Westendorp's Price Sensitivity Meter: Assumptions, Approach, See Also
Famous quotes containing the words van, price, sensitivity and/or meter:
“It is not a certain conformity of manners that the painting of Van Gogh attacks, but rather the conformity of institutions themselves. And even external nature, with her climates, her tides, and her equinoctial storms, cannot, after van Gogh’s stay upon earth, maintain the same gravitation.”
—Antonin Artaud (1896–1948)
“A bargain is in its very essence a hostile transaction ... do not all men try to abate the price of all they buy? I contend that a bargain even between brethren is a declaration of war.”
—George Gordon Noel Byron (1788–1824)
“The vanity of men, a constant insult to women, is also the ground for the implicit feminine claim of superior sensitivity and morality.”
—Patricia Meyer Spacks (b. 1929)
“Much poetry seems to be aware of its situation in time and of its relation to the metronome, the clock, and the calendar. ... The season or month is there to be felt; the day is there to be seized. Poems beginning “When” are much more numerous than those beginning “Where” of “If.” As the meter is running, the recurrent message tapped out by the passing of measured time is mortality.”
—William Harmon (b. 1938)