PRICING STRATEGY

Overview

Pricing and price positioning are at the core of business strategy. The two extreme positions are those of low price providers and premium price providers. There are many options between these. One option that should never be taken is to follow your competition.The pricing strategy needs to take into account the following:

• How profitable is the product? By unit, by product, and by customer.
• The nature of the product-is it unique?
• Quality of the product-is the quality superior to the competition?
• The competitions pricing and pricing positioning.
• The perceptions of clients/customers.
• Your marketing strategy and position in the market.

What We Do

• A comparative review is carried out to gain information about competitors’ prices and price positioning.
• Conduct a sales mix profitability analysis on the products- By unit, by product, by customer.
• A review is carried out on direct competitors’ products.
• We make sure that possible savings and / or production efficiencies that can increase the profit margin are identified and examined.

Your Results

Boardroom Innovations will give:

• Recommendations for areas where you can make changes- which may include such factors as features, pricing and production costs.
• Recommendations for ways of improving your pricing strategy.