Pricing your product effectively is crucial. Explore different pricing strategies and learn how to maximize revenue and profitability.
Some companies will swoop into a market with radically low prices as a strategy for attracting new clients. This is called a penetration pricing strategy. We’ll explore what penetration pricing is, how it works, how it compares to other pricing strategies, when it should be used and also look at some penetration pricing examples.
Price skimming means setting a high initial price for a new product, then gradually lowering it to capture more price-sensitive customers. Learn when it works and the risks to consider.
Learn the secret pricing strategies that can take your business to the next level through our actionable guide on setting prices and boosting profits.
The Profit Maximizer
Discover how to optimize pricing for your entire product mix. Learn strategies for product lines, bundles, and essential add-ons.
The Profitability Perspective
Discover pricing strategies focused on costs, target returns, and the experience curve. Learn how to ensure your pricing covers expenses and generates the desired profit.
Reference pricing means setting your prices based on how they compare to similar products in the market. Understand how customers use reference prices and how to influence their perceptions for smarter pricing decisions.
Value-based pricing requires the estimation of the economic value of a product: to what extent does a good or service provide additional value to a consumer? Estimating differentiation value requires strategic approaches towards measuring monetary and psychological value.
Discover how to calculate economic value, a core concept in value-based pricing. Learn to determine reference value, differentiation value, and their impact on optimal pricing
Understand the crucial role of economic value in setting prices. Learn the difference between use value, economic value, and how differentiation impacts pricing strategies.
Due to the many special considerations surrounding the pricing of services, traditional pricing strategies such as penetration pricing, competitive pricing, and premium pricing may not be suitable… we will take a look at emerging alternative service pricing strategies.
