Is Pricing That Difficult?
In a nutshell, the basic recipe for pricing is:
- Assess the value you provide to your customers.
- Measure the customer’s willingness to pay for this value.
- Design the right pricing model (try not to mess this one up).
- Plan a strategy to roll out (this involves market research).
- Use the right tactics to make your move on the market.
- Measure and analyse the impact.
You can use the above recipe by yourself and test your skills on your business and customers. It might work. Or, you let us use scientific methods and hard-earned experience to do that job for you and save you the painful cost of a possible mistake.