Top Product Pricing Strategies & Competitive Pricing Methods

Top Product Pricing Strategies & Competitive Pricing Methods

Of all the decisions entrepreneurs, small business owners and freelance service providers have to make, pricing is without a doubt among the most difficult.

=> Set your price too high and you lose sales to your competitors.

=> Set your price too low and you're missing out on potential profits.

Pricing is the factor that has the largest impact on sales and profits and a small change can produce dramatic results. In a recent study by consulting firm McKinsey & Co. they found that if companies on the S&P Global 1200 raised their prices by just 1%, while demand remained constant, profits would increase by 11% on average.

An effective pricing strategy will not only help you sell your products or services in the short-term, but will also increase your profitability in the long-term.

Other benefits of setting your price at an optimal level include:

• Meeting & Exceeding Revenue Targets

• Retaining & Increasing Market Share and Customer Loyalty

• Creating an Image & Reputation as a Company that offers Quality Products at Appropriate Prices

• Edging out your Competition

By the time you've completed this course, you will be able to:

• Define your ideal customer through objective data gained through market research

• Effectively research your competitors and market trends in order to set prices that will make you competitive

• Position your product or service in your market by defining the unique value it offers your target customer and adjusting your image accordingly

• Understand a variety of pricing strategies and learn which ones work best for your products or services

• Create a system for monitoring the results of your pricing so that you can keep it up-to-date and appropriate

• Understand when it's good to raise or lower prices and how to use these techniques to your advantage

Stop Missing Out on Potential Profits by Learning How To Set The Optimal Price For Your Products & Services!

Enrol now and let's get started!

Learn to capture maximum profit by using proper pricing strategies and knowing when to raise or lower your prices.

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What you will learn

• Set prices that will make you both competitive and profitable
• Define your ideal customer and identify market trends
• Perfectly position your product or service in the market by defining its unique value

Rating: 3.55

Level: All Levels

Duration: 36 mins

Instructor: MindMekka ®