New product in the tourism market pricing strategy development
Marketing research in the tourism market should take into account the nature of services provided by the client, but also knowledge of the competitive environment and the ever-changing trends in the tourism sector. In the case of this particular project, conducted for a world-renowned client operating in the tourism industry, the job was made easier by the fact that PMR has already successfully completed a marketing study for the client in recent years. This time around, the client was planning on introducing a new product to their portfolio. They also needed to determine the level of price sensitivity among potential consumers.
The target group of our client’s new product offer was both Polish and foreign tourists. The product was to be sold as an additional product to existing customers (cross-selling), which is why we had to consider the client’s current product offer when designing the study. The methodology consisted of several thousands of price tests, carried out using tablets (TAPI - Tablet Assisted Personal Interviewing) among Polish and foreign tourists - both potential and current customers. The survey had many versions, tailored to the consumer’s particular characteristics (e.g. language and most often used currency). The questionnaire was programmed into the tablets, which made carrying out the complex interviews more efficient.
Value for the client
The final result of the project was establishing a pricing strategy for the client’s new product, and also suggesting changes which need to be made in the existing offer, so that it can be even more attractive to consumers. The report presented findings from the price sensitivity tests, broken down by all groups surveyed. Additionally, we included information on price levels among competing compating operating in the Polish and foreign markets of the tourism industry.
You can find out more about price testing here.
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