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Gabor-Granger Method

Technique for determining the optimal price for a product or service

This method involves asking a respondent their likelihood of purchasing a product or service at a certain price point. If they are likely than a higher price point is displayed and they are asked the same question again. If they are unlikely a lower price point is displayed. This is repeated until the optimal price is found.

There are three key components to the Gabor-Granger method:

  • Product/Service description
  • A list of prices to iterate over
  • The likelihood question in a loop

IncQuery makes this simple by providing a module which you can easily insert using the Insert Modules function. Pick Gabor-Granger from the list and 4 variable, a loop and a question will be added to your survey. From here you can edit the price list and question as needed.