Service Pricing Strategies
How do organisations determine the ideal prices for the products and services they offer? Is it simply a case of maximising profits? Or are there additional factors to consider? The answer is of course the latter – pricing strategies are about far more than bringing in basic revenues. Price can influence not only the affordability of a product, but also its appeal. Excessively high prices can be off-putting for some, but also suggest exclusivity and luxury. By contrast, rock-bottom prices attract some, but to others convey a sense of poor quality. The question being – how and where do you draw the line?
This advanced tutorial has been designed for anyone working in business ownerships, senior management, sales, marketing or product development. Explore the function and value of price, along with pricing objectives, profit-oriented objectives and key factors that affect price determination. Addition topics introduced include the product’s value to the buyer, the different types of costs, basic methods for price determination, ‘the going rate’ pricing and more.