Research Purpose – Identify product's optimal price range in a competitive environment
Methodology – Face-to-face quantitative study with product exposure and questioning on four indices: bargain price, too high a price ("I will consider not buying"), expensive price, too low a price ("I will doubt the quality")
Model's Advantages:

• Psychological approach to measuring and setting product price through marketing research.
• The model was developed on the background of weaknesses of accepted techniques (direct questioning, price level sensitivity).
• Based on the assumption that the consumer has his or her own notion of a reasonable price range he or she would be willing to pay for a product.