Except for price, marketers
are usually interested in a comparative assessment of the elements of the
marketing mix. For example, what factors are more important in driving brand
choice? Or which consumer segment should we target? Or what product formulation
would target consumers like more? Or which advertisement campaign do consumers
find more appealing?
All of the above research questions are relative in nature, comparing a set
of possible alternatives. In contrast, pricing research aims to establish the relationship
between price and demand in absolute terms, making realism essential to the design of the
research study. While some bias may be acceptable in comparative assessments, pricing
research studies must accurately reflect the factors that influence a pricing decision.
