Logo Help Center
Chat with us
Open a ticket
Sign in
  1. aytm Help Center
  2. Research Tests
  3. Van Konan

Articles in this section

  • Comparing Price Methodologies
  • Overview: Van Konan Price Optimization Research Test
  • Building a Van Konan test
  • Analyzing a Van Konan test
  • A Deeper Look at Van Konan Price Optimization Model

Overview: Van Konan Price Optimization Research Test

Our Van Konan takes the traditional Van Westendorp price model to the next level, allowing add-ons for Max Revenue, Max Sales Frequency, and Max Profit calculations.

 

Learn more about Van Konan in our Lighthouse Academy course!

Lighthouse_CTA.png

Max Revenue

Enabling Max Revenue will provide a view of revenue estimation across price points and the optimal price at which revenue is maximized. This requires asking an additional purchase likelihood question of respondents which is presented as a 0-100% slider. For this calculation, an estimated Total Addressable Market size is required; if not specified, it will default to 1000.

Max Sales Frequency

Enabling Max Sales Frequency will provide context of purchase frequency of the product, service, or subscription at different price points and can be applied to revenue calculations if desired. This requires asking an additional purchase frequency question of respondents; the 8-point scale shown to respondents can be adjusted in the survey editor from our preset options. For this calculation, the estimated consumer purchase frequency (hourly, daily, weekly, monthly) and enabling of Max Revenue is required.

Max Profit

Enabling Max Profit will provide a view of profit estimation across price points and the optimal price at which profits are maximized. For this calculation, at least one set of estimated values for unit cost at quantity is required, with the option to add up to ten sets assuming unit costs changes by quantity. Enabling of Max Revenue is required while Max Sales Frequency is suggested but not required.

 

All required entries for the model to work – estimated addressable market size, purchase frequency, and unit costs – are never displayed to respondents and can be modified once fielding is complete. These inputs are used only to inform how questions are asked of respondents to capture the appropriate data and on the back-end by the models to calculate the various metrics.

 

Additional Resources

  • A Deeper Look at Van Konan Price Optimization Model.
  • Explore the demo to see the results of a Van Konan Research Test.
  • Facebook
  • Twitter
  • LinkedIn
Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request
Return to top
  • Our platform
  • Solutions
  • Pricing
  • Our panels
  • Help center
  • Contact us
  • Blog
  • Privacy
  • TOU
  • About
  • Careers
  • Innovation lab
  • Demo
© 2022, Umongous, Inc. All rights reserved.

zendesk theme design by aytm c/o diziana