VW
Pricing research

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.

Van Westendorp PSM Excel Template

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.
VW
Pricing research

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.
Using Van Westendorp PSM Excel template

Download the full report of the example experiment

The example study mirrors question four of the Example experiment 3: Gabor-granger and Van Westendorp, which its full report is available for free along with other example experiments when you sign up to the Conjointly platform.

Download the full example experiment

Also, remember to check out the detailed discussion on interpreting the PSM chart.

Feel free to get in touch with us if you would like to adjust your pricing to maximise profits. Or, if you need custom research or help with the automated tools, Conjointly’s team of research experts are here to help.


Written on 1 July 2022 by:
Chun Hui Lee image
Chun Hui Lee
Insights Writer

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