Addressing pricing decisions using marketing research requires deep expertise and a carefully structured approach. Ziment’s approach to maximizing revenue through pricing research is PAYZ.
PAYZ recognizes that multiple decision-makers, including patients, physicians, and payers, can create complex pricing challenges in the healthcare marketplace. It integrates the views of these different constituencies into a single, clear approach.
Our experience and know-how has produced actionable results and helped to price many successful products.
Pricing decisions can be made throughout a product’s life. Understanding how different brand features and market factors can impact product pricing can help to optimize brand development and track the price that will produce the greatest revenue for your product.
Early Stage Compound Evaluation. Gauge the value of different product attributes, performance standards or indications with commercial liability and brand/price trade-offs.
Close to Launch When Product Profile Is Stable. Forecast demand and market share at various price points to pinpoint the best price at which to optimize revenue.
Post-Launch Strategic Decisions Where Price is Under Consideration. Model the impact on your product to understand brand and price trade-offs.
Whenever a Competitor Might Change Price. Understand effect of change on the marketplace, the implications to your product and the best response.
Stage 1 is a qualitative phase designed to understand the market landscape and the dynamics of the decision-making process between physicians, payers and patients as far as product pricing is concerned.
Stage 2 gauges the impact of price, brand and product benefit tradeoffs. PAYZ incorporates a variety of quantitative techniques which are selected depending where your product is in the product development life cycle.
Most importantly, the PAYZ approach looks at your business situation and uses the most appropriate technique to solve the problem.
Stage 3 is a strategic phase that determines a revenue-maximizing pricing strategy.
The Right Execution. Ziment understands how to investigate the opinions, roles, and influences of all decision-makers. When appropriate, Ziment can build linked models that account for the influence of the various constituencies on the final purchase decision.
The Right Perspective. The PAYZ approach understands pricing in the context of the product life cycle.
The Right Tools. Powerful back-end ways to communicate results in the most compelling fashion.
We have the experience and know-how to help you frame your learnings within a local marketplace context. We employ some of the best marketing science talent in the industry, allowing you to work with creative analytical minds that work in a culture that demands their focus on your bottom line.