Jeremy Gray - "Practical Solutions to Difficult Problems"
A pricing strategy is a model or method used to establish the best price for a product or service. It helps you choose prices to maximize profits and shareholder value while considering consumer and market demand.
If only it was that simple. There are many pricing strategies that you can follow and it is likely you will use a mix of several strategies. We will look at some of the most common pricing strategies and talk about the pros and cons of each.
It's important to keep in mind: People buy from you for only three reasons. You can save them money, you can save them time, or you make them feel good. I have seen extensive lists of the reasons people buy but they are just subsets of these three fundamental reasons to buy.
Strategies we will cover are:
We will also briefly discuss
I will look at detail into Value Based Pricing and why it is important
Pricing programs often fail to meet their objectives and some ideas on how to increase your chances of success.
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