Pricing Strategy (Business Toolkit)

PRICING STRATEGY TOOLKIT

The Pricing Strategy is a plan for how the organization will set prices for its products or services, and can include a variety of elements, such as the target customer segments, the Value Proposition, the pricing objectives, the pricing methods, and the pricing tactics.

Pricing Strategy is an essential component of the Product Strategy and is one of the 4 Ps (product, pricing, placement, promotion) of the Marketing Mix. Your Pricing Strategy can have a significant impact on the organization's performance and profitability, so it is imperative that your Pricing Strategy is based on empirical analysis and not haphazardly set.

Furthermore, a Pricing Strategy is important for several additional reasons. First, a Pricing Strategy can help organizations align their pricing with their overall business goals and objectives. By defining the target customer segments and the Value Proposition, organizations can ensure that their pricing is well-suited to the needs and preferences of their target customers—and that it supports the organization's overall Corporate Strategy.

A Pricing Strategy can also help organizations manage the risks and uncertainties associated with pricing. By defining the pricing objectives and the pricing methods, organizations can create a framework for making pricing decisions that is consistent, transparent, and well-supported. This can help organizations to avoid making ad-hoc or arbitrary pricing decisions that may not be supported by data or analysis—and that may expose the organization to unnecessary risks.

For more information, have a look at these management topics:

CUSTOMER TESTIMONIALS

"Flevy is our 'go to' resource for management material, at an affordable cost. The Flevy library is comprehensive and the content deep, and typically provides a great foundation for us to further develop and tailor our own service offer."

– Chris McCann, Founder at Resilient.World

"My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success."

– Bill Branson, Founder at Strategic Business Architects

"As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value."

– David Coloma, Consulting Area Manager at Cynertia Consulting

"FlevyPro provides business frameworks from many of the global giants in management consulting that allow you to provide best in class solutions for your clients."

– David Harris, Managing Director at Futures Strategy

"As an Independent Management Consultant, I find Flevy to add great value as a source of best practices, templates and information on new trends. Flevy has matured and the quality and quantity of the library is excellent. Lastly the price charged is reasonable, creating a win-win value for the customer, Flevy and the various authors. This is truly a service that benefits the consulting industry and associated clients. Thanks for providing this service. "

– Jim Schoen, Principal at FRC Group

"[Flevy] produces some great work that has been/continues to be of immense help not only to myself, but as I seek to provide professional services to my clients, it give me a large "tool box" of resources that are critical to provide them with the quality of service and outcomes they are expecting."

– Royston Knowles, Executive with 50+ Years of Board Level Experience

"If you are looking for great resources to save time with your business presentations, Flevy is truly a value-added resource. Flevy has done all the work for you and we will continue to utilize Flevy as a source to extract up-to-date information and data for our virtual and onsite presentations!"

– Debbi Saffo, President at The NiKhar Group

"The wide selection of frameworks is very useful to me as an independent consultant. In fact, it rivals what I had at my disposal at Big 4 Consulting firms in terms of efficacy and organization."

– Julia T., Consulting Firm Owner (Former Manager at Deloitte and Capgemini)

SELECT CUSTOMERS

Since 2012, we have provided best practices to over 10,000 businesses and organizations of all sizes across the world—in over 130 countries. Below is just a very small sample of our customer base.

Did you know?

The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.