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Pricing strategy development @Pro-AspectX

Pricing strategy development @Pro-AspectX pixabay.com

As part of the MAN 633 Entrepreneurial Spirit course in fall 2020 Simon Kabs temporarily joined Pro-AspectX and helped them in pricing their product. The challenge hereby was the exclusive use in the B2B–sector and the unique character of the product. To determine a price range, instruments commonly used in marketing for price queries among potential buyers were used, such as the van Westendorp method (also called price sensitivity meter) and conjoint measurement. Special factors for the success of the project were the size of the producer's company and its short existence as a start-up, the high degree of technical innovation of the product, the relatively small number of possible buyers associated with it and the industry-specific conditions of the buyer sector.

Pro-AspectX is a spin-off from the Mannheim University of Applied Sciences, currently operating in the government-funded start-up program EXIST. The team has committed itself to develop a new generation of optical non-contact process sensors for explosion-proof (Ex) areas in the chemical industry. With a unique optical setup and housing concept, their current prototype is the first “Ex-ready” all-in-one Raman sensor that can be operated directly in process plants. The developed sensor distinguishes itself from competitors by significantly lower installation costs, easy assembly and less bureaucratic effort. The high-performance plug-and-play sensors leads to cost reduction, increased efficiency and process safety of industrial processes within the scope of digital transformation. 

To know learn more about ProAspectX, see their presentation as part of EXIST.

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Sponsors

  • University of Mannheim
  • Institut für Mittelstandsforschung
  • Gründerverbund
  • ESF
  • Europäische Union
  • Baden-Württemberg - Ministerium für Finanzen und Wirtschaft
  • Absolventum