Week 6: More Focus Group & Survey Updates

“It’s a pricing strategy that businesses use for their services or products to optimise revenue based on external factors.” (focus group member)

Hello and welcome back to my blog!

As I mentioned last week, this week I conducted my trial focus group. I found it very informative and it was interesting to hear everyone’s responses to my questions and reactions to the theoretical situations I gave them. Above is the definition that one of the group members gave me when asked to define dynamic pricing, which I thought to be a very good overview of what dynamic pricing is and wanted to share it! I am still listening to the audio and going through the data I gathered and hope to share everything I learn next week. 

In regards to trying out the focus group concept, I think it was really helpful and am now working with the administration to try and set one up at school with a larger more diverse group of people. When I finished this session I asked the participants for feedback and I was given little to no negative feedback, most saying that they really enjoyed the questions put forth and how I structured the session which is good news and means I won’t have to change much when planning for the next session.

I also wanted to talk about where I am at with my survey. I have now gotten around 190 responses, with more still trickling in, so thank you to everyone who filled it out! I plan to continue to get it around to more people as the larger the sample size that I am able to gain the more precise my data will be when I analyse it. Again, any help sharing that around would be greatly appreciated!

While looking through the responses I have so far from the survey, I was amazed by how diverse the group of people I have is so far (images 1 & 2) as well as how split the answers on some of the theoretical situations were. For example, the last one, where I asked the following question: “A software company offers its products for different prices based on the user’s location or perceived willingness to pay. Some see this as a fair way to price goods in a global market, while others argue it discriminates against certain customers. What do you think?” shown in image 3. I am excited to delve into reading the more detailed responses that people gave that justified their choice.

Thank you for reading my blog this week and I can’t wait to share more of my findings next week!