“Before getting into the Pricing Strategy which will work, Lets understand the Pricing Strategy which will not work at all”
During Such Scenario, your Client who is willing to do business with you will be Quizzed on the Pricing. Chances are higher than your Client may move away thinking your Customized Costing would be higher.
NO EXCLUSIVE DISCOUNTS OR OFFERS
Discounts and Offers will not and never give a brand for your Organization. Branding & Positioning are the two main factors to be considered to keep your Quality of Product.
NEVER PRICE BASED ON THE PEOPLE OR THE DESIGNATION
If you have Customized Solutions It is always better to make the three models of pricing and the fourth model as Customized Solutions, so there would be the same pricing to all your clients. This would Increase your Brand Value and the respect for what you offer as a Service or Product.
WHAT IS THE PRICING STRATEGY?
Pricing strategy is a way of finding a competitive price of a product or a service. This strategy is combined with the other marketing pricing strategies that are the 4P strategy (products, price, place and promotion) economic patterns, competition, market demand and finally product characteristics. This strategy comprises of one of the most significant ingredients of the mix of marketing as it is focused on generating and increasing the revenue for an organization, which ultimately becomes profit-making for the company.
Make Different Models of the Pricing Strategy with the attractive features of the Product or the Services you Offer.
KNOW HOW THE COST-STRUCTURE IS DEFINED
COST PLUS THE PREMIUM PRICING
Cost of the Development of the Product Plus the Marketing Cost Plus 20% is the actual Market Pricing Strategy.
PRESTIGE PRICING MODEL
PRESTIGE PRICING MODEL based on the BRAND-POSITIONING of your Products or Services. Make your Prestigious Brand stand out in the Market by Fixing a Fancy Price. This Fancy Price should be the price more based on the marketing factor and position of your brand in the market.
The Basic Development Cost without any PROFITS. Few Companies adopt this Pricing Model as they are not confident about their Product or Services, would just be willing to Sell at a Market Rate or Competitors Price or Sometimes below the Market Rate as well.
Customers would not be able to understand the Important Pain Points the Product & Services would Solve. The Continuous Engagement with the same customer on selling a few other services also will be based on the OFFER PRICE. So, Life-Long you as a Company or Founder would be selling the Quality Product at a very low cost. This Organization has already been Shut down so you don’t expect when such kinds of Organizations will Shut down, it is Very Near. Still in such kind of business model also a bulk transaction would make a Quick Revenue but as a Founder, you would need to Keep a Check on the Timings of the Offer. Limited Time Period Only.
COST PLUS PREMIUM PRICING
Define the Cost of your Product development or Services Offered by the below Formula,
WHAT IS PRESTIGIOUS PRICING?
Do you think your Brand is Providing a very good quality Product or Services to your Customers? Are you Confident on the Product you Offer? Are you good at After Services Model? Well, Go-Ahead with PRESTIGIOUS PRICING Model with a minimum of 40% of the Profits.
For Prestigious Pricings, Brand Positioning is Important with Marketing Activities.
WHAT IS DEVELOPMENTAL PRICING?
A Company that is not Confident on the Pricing Model & Selling Strategy would be selling the Product at a Very Competitive Price. “COMPANY CANNOT SUSTAIN”
WHAT IS AN ATTRACTIVE PRICING WITH NUMEROUS OFFERS?
Providing the Frequent Offers & Discounts which we have already discussed above as a FLAW MODEL
|COMPANIES OFFERING SERVICES||MORE DETAILS||NOW STATUS|
|WEBSITE, APPLICATION DEVELOPMENT COMPANIES OFFERING AT LOW COST||The Cost of the Development is too much underrated to attract the Customers||A Lot of Companies are Shut Down because of such Pricing Strategies.|
|ATTRACTIVE DISCOUNTS ON THE LEARNING SYSTEM PORTALS||The Web Learning Companies Providing Great Discounts||The Quality of the Products gets Weaker. The Business Model itself becomes a Problem due to such kind of attractive offers.|
|Big Day Sales of a Well-Known Company||Discounts & Offers for Products||The Company is in Loss for a Number of Years.|
|The Famous Hotel Booking App||Several discounts to attract the Customers||Not able to Clear the Dues of the Hotel Owners.|