Pricing Strategy Explained

Learn a proven methodology for developing a pricing strategy and increasing customer perceptions of value so you can justify higher prices and boost margins.

Introduction

• Pricing strategy variables

1. Pricing Strategy Explained

• What price communicates to customers
• Scenario-based pricing
• Types of pricing strategies
• What investors look for
• Test your pricing

2. Pricing Model Basics

• The three pricing models
• Guess the pricing model
• Examples of pricing models
• T-shirt pricing case study

3. Research and Margins for Pricing

• Common pricing mistakes
• The five key steps to pricing
• Market research
• Market research case study
• Know your margins
• Typical margins by industry

4. Pricing Influencers

• Pricing variables
• Pricing variable 1: Competition
• Pricing variable 2: Demand
• Pricing variable 3: First of a Kind
• Pricing variable 4: Uniqueness
• Pricing variable 5: Scarcity
• Pricing variable 6: Quality
• Pricing variable 7: Margin
• Pricing variable 8: Customer perception of value
• Scoring your pricing influencers

5. Pricing Models

• Review of the three pricing models
• Cost-based pricing pros and cons
• Market-based pricing pros and cons
• Value-based pricing pros and cons
• Choosing a pricing model
• Setting your price: case study
• Common mistakes in pricing

6. Putting Your Pricing Strategy into Action

• Create your pricing strategy