How to Price Your Product Or Service (With Confidence)

Practical Tools & Proven Strategies on Pricing for Lasting Success (Including Top Research on Buyer Psychology)
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  • Lectures 43
  • Contents Video: 2 hours
    Other: 9 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 2/2014 English

Course Description

Many entrepreneurs and small business owners are victims of an odd common practice: to price their products and services passively, using little more than raw intuition without careful consideration.

Establishing prices without thoughtful diligence can lead to dire consequences for small business owners whether they price their offers too low (leaving money on the table and not making healthy profits as a result) or too high (turning potential customers away and restricting their market share).

This course has the primary goal of helping you find the right price and also (perhaps more importantly) establish pricing policies that will lead to lasting success. Note the emphasis on the word "lasting": our focus are on strategies that will help you build a connection with your customers, which will in turn lead to long-term, and not just immediate, profitability. Many pricing strategies focus on short-term gains that could potentially lead to fast cash but at the high cost of sacrificing return business - which is not in our interest.

In this course we will offer a great deal of proven strategies, tools, and information that will help you get started right away in establishing your pricing policies and finding the right price(s) for your offer(s).

What are the requirements?

  • An understanding of basic marketing terms such as: Positioning, Branding, USP
  • At minimum, a basic understanding of your own cost structure
  • Ideally (but not required), you are in the process of writing (or already have finished) a business plan

What am I going to get from this course?

  • Provide several winning pricing strategies and illustrate how they can be implemented successfully
  • Provide a great understanding of consumer psychology with practical pricing implications
  • Provide tools and frameworks to help establish a successful pricing process

What is the target audience?

  • Entrepreneurs
  • Small Business Owners

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction to the Course
Introduction, Goals, & Assumptions
Preview
05:19
QUICK SUGGESTIONS (Before Getting Started)!
Preview
00:36
Section 2: Key Concepts & Principles
Key Concepts: Introduction
Preview
00:29
Customer Price Sensitivity
Preview
02:39
Competition & Substitute Products/Services
05:12
Cost-Plus vs. Value-Based Pricing
04:39
Differentiation
03:27
Marketing: Your Brand
04:00
Segmentation Pricing & Versioning
04:44
Higher Prices vs. Greater Market Share
1 page
Price Increase Vs. More Sales: Effect on Profits
05:38
Section 3: Your Target Market: Price Sensitivity & Perception of Value
Your Target Market: Introduction
Preview
00:18
Measuring Price Sensivitity
07:03
Measuring Price Sensitivity: Worksheet
3 pages
Measuring Price Sensitivity: Example
07:22
Price & Perception of Fairness
03:55
Market Research Exercise (Value-Based Pricing Using Competition as Benchmark)
5 pages
Section 4: Buyer Psychology & How it Relates To Pricing
Buyer Psychology: Introduction
00:23
Buyer Psychology: Important Observations
Preview
00:22
Effects of Discounts & Emphasizing Original Price
03:13
Reference Prices: Very Important!
06:30
Reference Prices: Great Study
04:23
Effects of "Just Below" Pricing: the 99-cent Approach
02:52
Effects of "Just Below" Pricing on Quality
02:43
Effects of Small Differences in Prices
03:04
Price From Most to Least Expensive
02:44
How to Raise Prices
04:13
Section 5: General Pricing Strategies
General Pricing Strategies: Introduction
00:31
Top Down Selling
02:55
Decoy Pricing (or Premium Decoy)
02:53
High-Low Pricing
03:02
Loss Leader
03:08
Razor & Blades (or Freebie approach)
02:48
Section 6: Pricing Strategies for New Products & Services
Pricing Strategies for New Products & Services: Introduction
00:33
Strategies For New Offers
Preview
01:44
Skimming
03:25
Penetration Pricing
02:47
Section 7: Pricing Structures & Their Importance
Pricing Structures: Introduction
00:27
When to Bundle
03:18
When to Unbundle: Common Mistakes When Bundling
03:08
Unbundling: Beware of Labeling Items as Free
03:57
Quantity Discounts
03:36
Section 8: Conclusion
Conclusion & Final Considerations
01:04

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Instructor Biography

Gabriel Silva, Educational Consultant, Entrepreneur, Business Owner

With fifteen years of experience as an educational consultant, math tutor, and business owner, Gabriel has over 2,000 online lectures on a variety of subjects, including mathematics, languages, and business. His lessons have attracted hundreds of thousands of viewers and draw enthusiastic reviews from students all over the world.

Gabriel is passionate about providing clear instruction, and his extensive teaching experience (in excess of 10,000 hours of personalized instruction over the years) has equipped him with the power to inspire students and help them succeed in their education. He is an avid language learner, a conspicuous polyglot, and holds a Bachelor of Commerce degree with Honours from the prestigious Sauder School of Business.

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