Scenario:
You plan a product or already selling one. Are you selling it at the Right Price? Could you price it higher to make more profit per unit sale? Or should you lower the price to gain more sales volume? Achieving right price is difficult, as pricing too high or too low would inevitably result in “Sales Loss”.
What is the Solution? :
Following factors are important for getting “Near-Perfect” Price:
- All kind of costs: Fixed, Variable, Operational and Capital.
- Competition Price Points.
- Company Business Objectives: Top Line, Bottom Line or Hybrid.
- Consumers / Target Group’s willingness to pay.
Have you considered the “Freemium” or “Pay As You Like” Model? Can this work for you?
Role of SmarrtGrid:
We help organisations align the product pricing to their business objectives and enable them achieve “Near Perfect” Price. In order to reach this goal here is structured views of your organisation level objectives:
Business Objectives:
- Increase market share initially.
- Capture niche market, before it opens the product to mass market.
- Increase their pie size by taking away some business from the competition.
Product Objectives:
- Create a differentiator in a product line based on feature set.
- Increase perceived value of the products in a form of an offer.
- Position a product as an exclusive product.
- Make a psychological connect with consumer through product.
Sales Objectives
- Upsell to consumers by giving ++Options.
- Sell at a static profit % earning strategy.
- Sell at a profit% range: high & low and try to achieve mean.
- Sell to consumer based on benefits and value and not the production cost.
How can we help?
Getting the price right is equally important as the quality of the product. Your consumers will always way quality of product inline with the price you offer it at. At SmarrtGrid, experts help you, to map your objectives with the right pricing strategy and achieve “Near Perfect” price.
Getting the Price Right, every time is Critical to Succeed!
