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

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

You can get an indication of what a customer is willing to pay for a product by using the PrimeDSS 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.

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.

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.