Customer Willingness to Pay (WTP) Research

Customer Willingness to Pay (WTP) research investigates how much money customers are ready to spend on a product or service. This research helps businesses understand the maximum price customers would agree to, which can inform pricing strategies. By evaluating factors like product features, customer demographics, and market conditions, companies can set prices that maximize sales without alienating potential buyers. Ultimately, WTP research is essential for developing competitive pricing that aligns with customer expectations and enhances profitability.