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Pricing Strategy: To Skim or to Penetrate?
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Pricing is arguably the most critical component of your marketing mix. It directly drives how your product is positioned and what target segment you go after.
Below, we have 5 documents that help you determine and craft a robust pricing strategy for your product or service. They range in topics from covering the basic question of skimming vs. penetration, pricing increase, pricing strategy by offering, and more.
Pricing Strategy Toolkit
This toolkit provides an in-depth discussion on Pricing Strategy. Topics include: Skimming vs. Penetration, Consumer Adoption Curve, Price Curve Analysis, Price Sensitivity Analysis, Pricing Tactics, and more.
Pricing Strategy Implementation Toolkit
This framework is focused on the point at which we ask the customer for a price increase. None of the strategic value of a pricing recommendation matters unless we take action with the customer. There are several tools and approaches that could make the increase more successful.
Best Practices in Price Increase Execution
In many industries, price is a crucial lever for driving higher profitability. Applying best practices to the tactical execution of a price increase can significantly improve yield and help the organization to “kick-start” a successful long-term price management system.
Pricing Strategy Template
The determination of product pricing is the responsibility of the Product Manager, but many departments in a firm will want to influence this process, particularly Sales and Finance. This Word document provides a format to enable communication and collaboration when creating a pricing structure for your product.
Pricing Strategy Workshop
This is a presentation used for conducting a pricing workshop. Topics covered include: Pricing framework & Implementation, OEM Pricing, Distributor Pricing, New Product Pricing, Bundle Pricing, and more.
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