Plots the Van Westendorp Price Sensitivity Meter to determine what price most people consider is reasonable.
Example
If additional questions about purchasing intent at the cheap and expensive prices are also provided, then the NewtonMillerSmith (NMS) extension is used to examine how pricing affects demand and revenue
Options
Inputs

OUTPUT
 Select the output type to show. By default this is Attitude of repondents which is the standard van Westendorp chart. If the extra data about purchasing intent is provided, then charts showing Likelihood to buy, Revenue or both of these together can be selected.

DATA SOURCE
 The input data can be supplied using either Paste or type data or existing output in 'Pages'. These are expected to be tables where each row is the response to 4 columns. The columns contain the response to the question: At what price would you consider this product/brand to be 1) Too cheap, 2) Cheap, 3) Expensive, 4) Too expensive. Columns 5 and 6 which ask about purchasing intent is optional and can be left blank if the aim is only to create the van Westendorp chart.

 Alternatively, if the survey responses are present as variables in the data set, the variables can be individually selected as Price considered 'Too cheap' , Price considered 'Cheap' , Price considered 'Expensive' , Price considered 'Too expensive' . If less than 4 of these variables are provided, then only the intersections of the variables provided will be shown.


 Likelihood scale Map likelihood score to probability of buying product; used in NSM extension. The number of values in the list should match the likelihood scores in the data input. That is, if the likelihood to buy is given as a score from 1 to 7 then the likelihood scale should consist of a list of 7 comma separated values which map each of these scores to a probability.



 Remove inconsistent prices Removes observations where prices are not supplied in increasing order. Note that responses where adjacent price points have identical values (e.g. the respondent gave the same answer for Expensive and Too expensive are not removed.

Chart

Intersection Points/Optimal Points

 Show intersection labels/Optimal points Label the critical points on the curve. On the van Westendorp chart, this is where the curves meet, i.e. the point of marginal cheapness, optimal price point, indifference point price and the point of marginal expensiveness. For the other outputs, the label is placed where the price is maximised.



 Number of decimals Number of decimals to show in the intersection labels.



 Wrap intersection labels Whether the intersection labels should be wrapped; otherwise they will be shown in a single line of text which may be quite long.



 Intersection labels width (in characters) This specifies when the line breaks are introduced into the labels. Line breaks are added at the closest wordbreak before the number of characters specified.



 Arrow color The color of the arrow next to the intersection labels



 Arrow line width Line width of the arrow (in pixels).



 Arrow length Controls the length of the arrows (and therefore how close the labels are to the intersection points).



 Currency symbol The currency symbol used in the labels. These will also be used as the defaults in the CATEGORIES (X) AXIS, however, there is a separate control in that group to specify a different symbol (or no symbol).

Refer to Visualization Options for general chart formatting options.
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Displayr: How to Create a Price Sensitivity Meter Van Westendorp Plot