From the course: Pricing Strategy Explained

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Scoring your pricing influencers

Scoring your pricing influencers

From the course: Pricing Strategy Explained

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Scoring your pricing influencers

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- All right, now we're going to pull it all together, and we're actually going to create the profile. We're going to summarize each one of our pricing influencers, and we're going to be able to score them. So, first step is that we're going to actually score each one of our pricing influencers based on our business, right? So we're going to take a look at our product or service, and say, "How does our product or service "relate to or impact this pricing influencer?" Don't worry, we're going to go through this. And then I want you to summarize any one of the strategies that you can deploy to actually get higher prices, higher margins, add more value. We're going to take a look at that as well. And your last step is analyzing the score. So what we want to do there, is we want to see if you're on the higher end of the spectrum, or the lower end of the spectrum, right? So if you're on the higher, if you get a higher score, and…

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