More than pricing
Strategic pricing is not about tricking customers as many mistakenly believe. Strategic pricing is about creating a price / financing model that fits your prioritized- and your most potential target groups in detail. The goal is, of course, to create higher interest, more business and loyal relationships with your customers.
Wrong pricing is a detail that potentially ruins the entire business
An incorrectly communicated price means the majority of customer, as much as up to 100 % will choose another supplier. Those who still completed the deal are more likely to be dissatisfied based on the experience of an incorrect price in relation to the product.
With correct pricing you are likely to generate up to 80-100 % transactions based on customers that showed an interest of your products/solutions.
Follow us here in a couple of weeks
I will in a few weeks review the basics of strategic pricing so that you can create a competitive price based on your product / solution and your market.
I’m going through a structure that makes it easier for you to understand how to handle, including pricing of the Base Product, Supplementary Product, Add-on product, and the Value Enhancing Product. We use a model, (Customer Valued Pricing), which basically contains several items with the following goals:
1) Create a price that is logical
2) Create price that enhances the value
3) Create a price that generates higher loyalty
4) Create a long-term price
5) Create a price that in itself has a competitive advantage, without being lower
6) A price that (increases) the direct interest
7) funding Models
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