Ask Beyond the Price Tag

Rather than directly asking potential customers how much they will pay, it is more effective to explore their existing behaviors and investments in related categories. Inquire about their current spending patterns on kitchen tools, and how these have evolved over time. By examining the broader budget that includes kitchen tools rather than a specific item, one can gauge the range of price they are willing to entertain. Additionally, eliciting responses to hypothetical extreme pricing can provide valuable insights into perceived value and pricing thresholds. Asking questions about extreme scenarios, such as the price of a pan being set at an unusual amount, may lead to revealing information about customers' actual willingness to pay compared to their initial expectations.