Find the right price for your product using google form and Van Westendorp's Price Sensitivity Meter

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Van Westendorp's Price Sensitivity Meter (PSM) is a valuable tool in market research that helps businesses determine optimal pricing strategies. PSM enables companies to understand how consumers perceive price and assess their willingness to pay for a product or service. By conducting surveys and analyzing the four key price points (too cheap, inexpensive, expensive, too expensive), PSM provides insights into demand and price elasticity. This information aids in pricing decisions, product positioning, and forecasting revenue. PSM helps businesses strike a balance between maximizing profits and attracting customers, leading to effective pricing strategies that optimize sales and market competitiveness. It is a powerful and practical approach that guides organizations in making informed pricing choices.