Many businesses price on “cost plus” basis, sometimes combined with a “What they think they can get away with” approach.
This session looks to apply some ‘Science’ to this mechanism without getting too complicated; the aim being to help businesses establish prices that are right for them and for their customers.
What is a pricing strategy and why do you need one?
1. What Is A Pricing Strategy and Why Do You
Need One?
Date:17th June 2010
Facilitator: Sammy Rose MBA, MCIM
Chartered Marketer
Mentor: Richard Mooney DipM, Chartered Marketer,
FCIM
1
2. ROUND UP:-
•Product Proposition – What About This Makes Us Different?
•Target Audience – Know Who This Is And Address Them
Instead Of Everyone In General
•Competitors – How They Affect Our Product Proposition
And Sales & Marketing Approaches
2
12. BRAND MAPPING
High Price
Premium Strategy
Rip off & false economy strategy High Value Strategy
Average Strategy
Low High
Quality Quality
Good Value Strategy
Superb Value Strategy
Economy Strategy
Low Price
12
19. BRAND MAPPING
High Price
Premium Strategy
Rip off & false economy strategy High Value Strategy
Average Strategy
Low High
Quality Quality
Good Value Strategy
Economy Strategy
Superb Value Strategy
Low Price
12
21. ROUND UP:-
•Price For Profit
•Bundle Instead Of Discount
•Play on Customer's Vanity
•Remember Your Branding Proposition
•Consider Your Stance on Margin v Volume
•Keeping Playing Chess
•Consider Your Distribution Channels
•Use Incremental Prices To Help Negotiate Best Deals
21