The Van Westendorp Price Sensitivity Meter is used to determine the psychologically acceptable range of prices for a single product or service. Learn more about the method and its output with our free Excel template.
Van Westendorp Price Sensitivity Meter
The Price Sensitivity Meter helps determine psychologically acceptable range of prices for a single product and approximately estimate price elasticity.
Overview of the Van Westendorp PSM Excel template
The Van Westendorp Price Sensitivity Meter (PSM) is one of the most commonly used pricing techniques to reveal consumer attitudes toward price points and discover the psychologically acceptable range of prices for products and services. To help you understand the Van Westendorp output, Conjointly has set up a free Excel template with an example study for a multivitamin brand.
Conjointly Van Westendorp PSM Excel template
Sign up on Conjointly for free to download the template.
Using Van Westendorp PSM Excel template
On the Respondents tab , the columns AA to AD are the output for the Van Westendorp, where:
- Column
AA= the “too cheap” price. - Column
AB= the “cheap” price. - Column
AC= the “expensive” price. - Column
AD= the “too expensive” price.
Download the full report of the example experiment
The example study is based on Q4 of the “Example experiment 3: Gabor-Granger and Van Westendorp”, which is accessible for free in your list of experiments.
