7 Key Pricing Strategies and How to Choose One
‘Pricing is either your most powerful weapon or your worst enemy.’
Setting a price for your product might sound like a small piece of the much larger picture. However, in reality, it’s one of the most important decisions that you will make when bringing your product to market.
To make setting pricing a little less daunting, our guide takes your through the pros and cons of 7 common pricing strategies.
Great to give you:
- A summary of how each strategy works
- The advantages and watch outs of each
- Indications of where to use each pricing strategy
Pricing fails when it’s taken as a dull task within a company or simply not given the time and effort it deserves. When taken seriously and handled in smart ways, pricing turns into a secret and very effective marketing tool and can make the difference between success and failure of your product.
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Meet our Pricing Expert – Anna Taylor
For over 15 years I had the great pleasure of working for companies that I have truly admired such as Cadbury’s, SAB Miller, Asahi and Unilever.
Working in Finance alongside Sales and Marketing teams throughout that time I learnt from the best and developed new methods and strategies for pricing, promotion and revenue management. From training sales forces in margin and pricing to co-designing and calculating the impact of an entirely new price pack architecture and everything in between.
I have seen first-hand the importance of getting pricing right, of designing a pricing architecture and more importantly, sticking to it. I understand how to get win-win pricing between you and your retailers and how to evaluate promotions to understand what really works and is worth spending money on.
Pricing is such a crucial element in every business and I am passionate about sharing my knowledge and seeing more companies benefit from this area that is so rarely taught and properly explained.
Pricing fails when it’s taken as a dull task within a company or simply not given the time and effort it deserves. When taken seriously and handled in smart ways, pricing turns into a secret and very effective marketing tool and can make the difference between success and failure of your product.
