From the course: Pricing Strategy Explained
Unlock the full course today
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Pricing variable 7: Margin
- And our next price influencer of course is margin. Margin is very important to how you're going to actually use your pricing strategy. So, first question of course since we've already gone through all the margin calculations but you have to ask yourself what is your margin. And we have to determine whether or not you have a high margin or a low margin. And we can set some targets here. If you've got a higher margin like 70% or above then you've got enough room. It gives you much more pricing flexibility; you can force the price up. If you've got a low margin it's going to be a lot more competitive, you're going to be a lot tighter, you're going to have a lot less room in order to breathe as it relates to your pricing strategy. It means you're not going to have a lot of room in which to move. So you have to keep into account margin and how that plays into your overall pricing strategy and how it gets influenced by…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Contents
-
-
-
-
-
-
(Locked)
Pricing variables1m 41s
-
(Locked)
Pricing variable 1: Competition1m 16s
-
(Locked)
Pricing variable 2: Demand2m 15s
-
(Locked)
Pricing variable 3: First of a Kind2m 3s
-
(Locked)
Pricing variable 4: Uniqueness2m 44s
-
(Locked)
Pricing variable 5: Scarcity2m 14s
-
(Locked)
Pricing variable 6: Quality2m 32s
-
(Locked)
Pricing variable 7: Margin2m 8s
-
(Locked)
Pricing variable 8: Customer perception of value1m 46s
-
(Locked)
Scoring your pricing influencers4m 27s
-
(Locked)
-
-