What method do you use to measure willingness to pay?
We have made enhancement to the popular Van Westendorp Price Sensitively Meter (PSM); the questions are asked in context of purchasing. These questions are also dynamic and can change with specific respondent The analytic side of the PSM is also enhanced, leading to at least an order of magnitude better precision of the results. To achieve this, we developed our own software which we call our Predictive Demand Engine™. The use of proprietary software also substantially speeds up the analytic process and reduces cost.