1. Identify Competitors: Start by listing other farmstays, rural bed and breakfasts, and countryside hotels in your area to understand your competition.

2. Analyze Pricing Structures: Examine the pricing structures of your competitors, noting their peak and off-peak rates to gauge the market average.

3. Factor in Location: Consider the location of each competitor and how proximity to attractions or accessibility may influence their pricing.

4. Assess Amenities: Evaluate the quality and range of amenities offered by competitors, as these can impact the perceived value and pricing.

5. Unique Experiences Offered: Identify any unique experiences or activities provided by competitors that may justify higher prices.

6. Use Online Platforms: Utilize online booking platforms and review sites to gather information on competitors’ pricing and guest experiences.

7. Understand Your Target Market: Define your target audience, whether it’s luxury travelers, families, or budget-conscious guests, and their willingness to pay.

8. Compare Value Propositions: Assess how your farmstay’s value proposition compares to competitors in terms of experiences, services, and pricing.

9. Position Your Pricing: Determine how to position your pricing based on the competitive analysis and the unique value you offer.

10. Adjust for Profitability: Ensure that your pricing not only covers your costs but also allows for a healthy profit margin, making adjustments as needed based on market research findings.

By breaking down the market research process into these subtopics, you can systematically analyze the competitive landscape and set your farmstay’s pricing strategically.