The impact of pricing strategies can be critical for the success of new product launches, a company’s image, and ultimately a company’s short- and long-term success. The pricing strategy will affect the promotion, product, and distribution strategies, and must be in keeping with the organization’s vision and mission.
Ten Considerations for Pricing a Product or Service
When introducing a new product or service to the market a key, and often critical, consideration is the price for this offering. I have seen folks simply take the cost of production and use a percentage markup as a pricing model. This is the simplest model and it provides a good example for the need to consider other pricing model options.
Here are 10 things to ...