55. How to Find Your Pricing Sweet Spot: The Van Westendorp Pricing Model

The Van Westendorp Price Sensitivity Meter is a simple but powerful tool that helps you to identify the series of price points which are psychologically critical to your audience.

Here's an image of the model

Ask your target audience these 4 questions:

1. At what price would this be so cheap that you would question the quality?
2. At what price would you consider this a bargain?
3. At what price would this be getting on the expensive side for you?
4. At what price would this be too expensive that it would be prohibitive for you? Show less

Plot these 4 lines. The square area where they intersect, is your sweet spot

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