Pricing your product effectively is crucial. Explore different pricing strategies and learn how to maximize revenue and profitability.
Explore when and how to implement price increases or decreases, including the importance of maintaining customer trust and brand image.
Understand Pricing Psychology
Learn how pricing influences customer behavior. Use targeted strategies to create a sense of value and urgency.
Explore contrasting pricing strategies for new products: price skimming for high initial profits vs. penetration pricing for rapid market share gains.
Cost-based pricing involves setting prices based on the costs for producing, distributing and selling the product. But costs represent the other extreme: costs set the floor for the price that the company can charge.
Customer value-based pricing is considered to be the best pricing strategy… When a customer buys a product, he exchanges something of value (the price) to get something of value in return (the benefits of having or using the product or service).
