The point of a good pricing strategy is to increase how much people are willing to pay for your products or services. Not to figure out how much they’re willing to pay and put that on a price tag, but to increase ...
Pricing Strategy
Start here: Pricing strategy fundamentals
Most people think that developing a pricing strategy consists of selecting a pricing method, or a pricing model, or implementing some "pricing strategies" such as using penetration pricing, adding some product tiers, or a couple of bundles, maybe using odd prices (for psychological pricing, you know?), and they're all set.
Unfortunately, this couldn't be further from the truth. A sound pricing strategy requires a pricing method, a pricing model, a price positioning, some additional more targeted strategies when needed (commonly referred to as "pricing strategies", such as penetration pricing, price skimming, product bundling, unbundling, product tiers, etc), and finally, the actual price points.
None of the previous can be considered a complete pricing strategy on its own though (or at least not a good one); a sound pricing strategy requires them to work in conjunction.
Read the post below to find out more:
In today’s post, we’re going to go over the three price-setting methodologies: cost-based pricing, competitor-based pricing, and value-based pricing. We’ll see what each one of them is, what are their advantages ...
Once the basics are clear, it's time to build your own pricing strategy
Pricing Strategy Development Toolkit
Concepts: pricing strategy building blocks
Here you can find posts about pricing concepts and commonly used "pricing strategies" that can be used as building blocks to create the broad, all encompassing pricing strategy described in the post at the top of the page.
Additional pricing strategy content
Beyond the pricing strategy basics
Here you can find posts about pricing strategy in the context of a broader business strategy development.
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