Overview
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Learn a proven methodology for developing a pricing strategy and increasing customer perceptions of value so you can justify higher prices and boost margins.
Syllabus
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Introduction
- Pricing strategy variables
- What price communicates to customers
- Scenario-based pricing
- Types of pricing strategies
- What investors look for
- Test your pricing
- The three pricing models
- Guess the pricing model
- Examples of pricing models
- T-shirt pricing case study
- Common pricing mistakes
- The five key steps to pricing
- Market research
- Market research case study
- Know your margins
- Typical margins by industry
- 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
- 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
- Create your pricing strategy
