From the course: Pricing Strategy Explained

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Create your pricing strategy

Create your pricing strategy

From the course: Pricing Strategy Explained

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Create your pricing strategy

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- Now we're ready to fill out our prep worksheet for our pricing strategy. But first, I want to give you a couple of tips. Now, it's important to understand that your product or service pricing strategy's a megaphone that communicates so much to your customers. So you got to make sure you get this right. It creates brand. It communicates the quality of your product. It communicates the level of uniqueness that you have out there in the marketplace. So, keep in mind, it's sending a lot of messages and you have to be aware of them all. Make sure you understand your customer limits as well in terms of purchasing. So when you're setting price, we have to make sure that the customers can actually afford it at that level, the target customers that you're going after. It's also essential that this works in harmony with all your other business strategies: your positioning, your branding, your competitive strategies, and your…

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