Best Price Selection Examples
|Summary||This article provides two examples of a series of questions which isolate the highest price at which the respondent would purchase a product. There is a stand-alone example and and one where it is in a loop so you can repeat the set of questions for any number of brands or products.|
|Written for||Survey programmers|
|Keywords||Price point, best price, higher, lower, selection, purchase, shuffle, random selection.|
Download the example QEX files in the links below:
- Stand-alone example: Best Price.qex.
- Looped example: Best Price (Loop).qex.
In each case
- The respondent starts with a randomly selected price for the product.
- They answer if they would purchase at this price.
- If they say 'No' we ask the next iteration of PriceLoop and randomly select between the lowest available prices (where they haven't said no).
- If they say 'Yes' we ask the next iteration of PriceLoop where we randomly select between the highest available prices (where they haven't said yes).
- The series of questions allow us home in on the highest price the respondent would be willing to pay for the product.
- Once there are no more price options available, we exit the loop and set the final purchase price in the FinalPrice question outside PriceLoop.