Top Product Pricing Strategies & Competitive Pricing Methods
What you'll 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
- Implement a variety of pricing strategies and identify those that work best for your company
- Understand when it's good to raise or lower prices and how to use these techniques to your advantage
Requirements
- The only requirement for this course is that you have a product or service you wish to sell now or in the future.
Description
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!
Who this course is for:
- Entrepreneurs
- Small Business Owners
- Freelance Service Providers
Instructor
- 4.2 Instructor Rating
- 6,406 Reviews
- 152,801 Students
- 26 Courses
We are a group of motivated, like-minded professionals who share a passion for education and an appreciation for the beauty of learning.
We equip startups, entrepreneurs and small business owners with the training, knowledge, tools & motivation they need to succeed.
Our aim is to assist those wishing to improve their station in life by providing quality educational products that are affordable and accessible.
Our courses are crafted in such a way that they not only impart the necessary theoretical knowledge, but also provide learners with practical skills that are applicable to the real world.
We endeavour to create an environment that offers the richest forms of nourishment to our students, and rewards their time and financial investment to the fullest extent.
MindMekka aims to allow its students to become the best possible version of themselves. Our goal is not only to educate, but also to elevate, to motivate, to inspire.