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IMC92 Challenges of Product Pricing

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Ben is joined by Kate (Journey in Style) and Dan (Dan Barker Studios) to discuss how these two businesses have negociated the challenges of product pricing.

Notes

  • How to determine optimal pricing strategy for products?
  • Does competition factor?
  • What quoting software
  • Common pricing models

Value pricing

  • Set price based on worth to customer
  • What someone is willing to pay

Good, Better, Best

Value Ladder or Product staircase

Product Pricing Tricks

  • Dynamic pricing – Increases when you re-visit
  • Surge pricing
  • Price conditioning

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