Bundled Pricing
Sell in a single transaction two or more items that could be sold as standalone offerings.
Pricing
Everything about how to price you products or services.
Pricing models play a critical role in a product’s success. They’re not just about determining the price, but also about reflecting the value of the product, the brand, and understanding the customers’ perception of value.
Different pricing strategies suit different types of businesses, and the choice often depends on various factors like business objectives, market conditions, customer segments, product lifecycle, and competitive landscape.
Moreover, it’s also important to note that pricing is not a one-time decision, it should be continuously evaluated and adjusted according to the changing market conditions, customer feedback, and business goals.
Here are some more specific considerations for some of the common pricing strategies:
Cost Plus
The company adds a markup to the cost of the product or service to determine the selling price. Cost Plus Pricing is a straightforward and widely used pricing strategy in product management. The approach involves calculating the total cost of producing a product (including raw materials, labor, overheads, etc.) and then adding a markup to determine the selling price.
Freemium
Offer your product for free.
Subscription Based
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Switchboard
Connect multiple sellers with multiple buyers; the more buyers and sellers who join, the more valuable the switchboard.
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Last modified August 13, 2024: merge (5ce916e)