Identify Price Thresholds

A national chain of wheelchair-accessible van providers, providing solutions to the disabled community, partnered with W5 to test three van product concepts and assess market sensitivity to proposed price ranges. Beyond receptivity to the concepts, the client desired specific strategic insights to guide decision making for its market offering.

APPROACH

W5 conducted an online concept testing survey with custom questions to explore unique product features, options, and consumer needs. The survey was conducted with disabled consumers and a sample of caregivers. W5 applied a Van Westendorp price sensitivity series of questions and analysis to model consumers’ interests in paying for vehicles with the client’s proposed solutions.

RESULTS

The research highlighted the best product option based on in-depth consumer evaluation and consideration. Insights around consumer and caregiver concerns and potential barriers emerged, and a statistical prioritization of product attributes guided the client’s strategic decisions moving forward. The insights gained in the Van Westendorp price sensitivity analysis provided direction for product pricing based on consumer demand. This was an interesting application of this analysis when focused on proposed/potential new product options rather than simply on products currently available in the marketplace.