Plan willingness-to-pay research before you set a price

Plan research into what customers would pay for the product below, for {{audience}}, so that the pricing decision rests on what customers say and do rather than on what the team hopes. The plan should be one we can run in {{timeframe}} with the people and budget we have.

The product or plan we are pricing:
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{{product}}
"""

Who we would sell it to: {{customers}}
What customers pay today for this or for alternatives, as far as we know: {{current_prices}}
Who we can reach for research (customer list, panel, sales calls, website visitors): {{reach}}
Budget and people for the research: {{resources}}
The pricing decision we need to make: {{decision}}

Use these headings:
1. Questions the research must answer: up to 4, each tied to the decision.
2. Method: which methods fit, from price sensitivity questions (the Van Westendorp four questions), interviews about value and current spending, a choice-based study comparing packages, or a live test of prices on a page, with one line on why each fits or does not fit our reach and budget.
3. Sample: who, how many and how we recruit them, and who to leave out, such as customers on discounted contracts if their answers would skew the results.
4. Questions to ask: the exact wording, in order. Ask about past behavior and current spending before any price question, because people asked first what they would pay tend to anchor on the first number they hear.
5. Analysis: how we will read the answers, and what result would change the decision.
6. Timeline: a table with the columns Week, Activity, Owner.

Keep the plan under 700 words.

For example, a behavior question reads: "The last time you paid for a tool like this, what did it cost and who approved it?" This shows the form only.

A good plan makes clear what each answer will tell us and how it bears on the decision. Do not suggest a price or a price range yourself, and do not use competitor prices that are not in the context. Say plainly that what people say they would pay is often higher than what they do pay, and show how the plan checks stated answers against behavior. If our reach is too small for a method to give a usable result, say so and suggest one that fits. If the decision or the customer is unclear, ask before planning.