Join Drew Boyd for an in-depth discussion in this video Communicating price, part of Marketing Fundamentals.
…After you set the price of your product or service,…you have to communicate it in an effective way that supports your overall strategy.…A simple framework for…this is answering the questions, who, what, why, when, and where.…Your target audience, of course, is who you want to communicate to.…But it's more than just potential customers.…You also want to make sure your partners,…such as distributors, understand your pricing structure.…Generally speaking, you want to make your prices available to the public.…
Including competitors.…They may be setting their prices based on yours.…What you communicate about pricing is much more than just the dollar amount.…When a customer first sees the price,…that's a critical time to remind them of the value they're getting for their money.…Be sure to tell them about any discounts that might apply.…Or any other terms and conditions, such as shipping and handling charges.…You want customers to have a complete and clear picture of your pricing.…
If they're confused about something, they may look elsewhere.…
You'll also learn to address tactical challenges and present the plan to get buy-in throughout an organization, from the C-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. Finally, you'll learn how to launch the campaign and measure its performance.
- Marketing in an organization
- Assembling the team
- Creating the marketing plan
- Analyzing your products, customers, and market
- Segmenting customers
- Creating a value proposition
- Developing a strategy
- Setting goals
- Setting prices
- Using social media
- Presenting your plan to leadership
- Budgeting your plan
- Measuring success
Skill Level Beginner
Understanding Marketing's Role
Analyzing Your Business
Developing Your Strategy
Developing the Tactical Phase
Aligning the Organization
Launching and Measuring Your Plan
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