Frequently Asked Questions
It is a process that runs a neuroscientific survey and analyses it with AI in order to find the profit maximizing price for your product.
The discipline of finding and maintaining prices for consumer products that manage the tradeoff between higher sales and lower margins.
The key factors are
1. The demand that a certain price triggers,
2. The costs of making the product, and
3. The retail margin.
There are 1. direct pricing insights methods (Garbor Granger and Van Westendorp) and 2. Indirect methods (so far mainly Conjoint Analysis and pricing software)
New to the game are methods based on Neuroscientific methods such as Implicit Intelligence.
It combines the simplicity, costs, and speed of direct methods with the accuracy of indirect methods.
It is a process that combines neuroscientific measurement with Causal AI to achieve a new level of accuracy in predicting consumer responses to prices.
It’s a discipline that analyses the human brain and develops methods to measure its activities such as attitudes toward prices.
This are methods that are capable of finding the root cause für desirable outcomes (such as willingness to pay) using data. For pricing it is important to understand if the price or the context is causing the demand.
If you are selling a standard product to consumers or a large number of business buyers, then the answer is YES.
Just follow this link. It takes 1 minute: https://app.supra.tools.
Head to the Our Pricing section for more information about prices: https://supra.tools/pricing
You can use the software including the Expert Judgement tool for free. Running an Implicit Intelligence survey creates external panel costs and is therefore not free.
SUPRA´s physical infrastructure is based on Heroku´s (Salesforce) technology, hosted and managed within Amazon’s secure data centers and utilize the Amazon Web Service (AWS) technology. Amazon continually manages risk and undergoes recurring assessments to ensure compliance with industry standards. Amazon’s data center operations have been accredited under:
ISO 27001
SOC 1 and SOC 2/SSAE 16/ISAE 3402 (Previously SAS 70 Type II)
PCI Level 1
FISMA Moderate
Sarbanes-Oxley (SOX)
PCI
PCI compliant payment processor Braintree is used for encrypting and processing credit card payments. Heroku’s infrastructure provider is PCI Level 1 compliant.
Sarbanes-Oxley
As a publicly traded company in the United States, salesforce.com is audited annually and remains in compliance with the Sarbanes-Oxley (SOX) Act of 2002.
Please contact wolfgang@supra.tools to delete your account.
Please contact wolfgang@supra.tools
Create an account for free at https://app.supra.tools – in the menu you find short tutorial videos.
Unlimited.
Typically, 5 mins.
Product name, product picture, product text description, expected optimal price, a price considered as “high” and as “low”.
Per default we run it with N=100 per product.
Yes.
Depends on the number of tested products and the Incidence rate of your target group. Typically, the results are ready between 1 day to 1 week.
Yes.
Is there anything else you’d like to know? Please feel free to contact us at frank@supra.tools