Gabor-Granger Technique

The Gabor-Granger Technique is a market research method used to determine the best price for a product or service. It involves asking potential customers, at different price points, how likely they are to buy the product. By analyzing their responses, businesses can identify the price that maximizes revenue while still appealing to customers. This approach helps firms find an optimal balance between affordability and profitability, ensuring they set prices that attract maximum demand without undervaluing their offering.