Marketing For Dummies, 4th Edition

Chapter 15

Finding the Right Pricing Approach

In This Chapter

Facing the facts about pricing

Establishing or modifying your list price

Crafting price-based special offers in traditional media and via the web

Staying out of legal hot water

Getting the price just right is the hardest task you face as a marketer, but finding the right pricing approach makes success much easier to achieve. The bottom line is that the customer needs to pay — willingly and, you hope, rapidly — for your products or services. But how much will he or she pay? Should you drop your prices to grow your market? Or would raising the price and maximizing profits be better? What about discounts and special promotional pricing? Getting the price part of your marketing plan right is hard, but this chapter helps you through it by giving you a clearer idea about the many questions you may have about pricing and what it means to your bottom line.

Eyeing Pricing Opportunities and Constraints

Many companies fall prey to the myth that customers choose a product based on its list price (the published selling price in a ...