View source for How much would a customer be willing to pay for my product?


<!--block--><u><span style="font-size:larger;"><span style="color:#0000FF;">How much would a customer be willing to pay for my product?</span></span></u>

<!--block-->You can get an indication of what a customer is willing to pay for a product by using the PrimeDSS [http://www.dss.primefish.eu/index.php/wtp Willingness to Pay] tool. The tool utilises a methodology called “choice modelling”, where consumers participating in an online experiment have indicated their preference on a set of goods.<br/> <br/> Based on specific characteristics known as attributes such as price, production method, presentation format, sustainability label, nutritional and health claims, a mathematical model estimates how each product attribute (including fish species) has contributed to drive consumers’ choices and therefore the consumers willingness to pay for each attribute to give a total price.<br/> <br/> The results also include a graphical representation of the willingness to pay for each attribute for the species chosen as well as a comparison of species by the country selected.