Best Practice: Pricing Ideas

Learn best practices for pricing your ideas

Leigh Greenberg avatar
Written by Leigh Greenberg
Updated over a week ago

In this article:

Deciding how to best represent an idea is vital to getting an accurate read of its merit. Price might be an important aspect of the concept to consider including in your test.


Should I price my test concepts?

Whether or not you should include price comes down to the aim of your research. If you are in the very initial stages of idea testing, it may be better to get a read on the idea in the absence of price, to get a sense of its pure potential. If you are closer to having a finalized innovation, pricing can be helpful to get a sense of portfolio incrementality in Upsiide’s Market Simulator.


What if all of my ideas are the same or similar prices?

In these cases it's best to leave price out as the effect it will have on each individual idea will be more or less the same, which will result in a neutralizing effect overall.


What if I'm including competitors?

If the pricing between your products and the competitors' is very different, including pricing could provide useful information for consumers, especially when using follow-up questions to tease apart potential differences in performance between your product and the competitors'.

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