From the course: Pricing Strategy Explained
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Scoring your pricing influencers
From the course: Pricing Strategy Explained
Scoring your pricing influencers
- 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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Contents
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Pricing variables1m 41s
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Pricing variable 1: Competition1m 16s
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Pricing variable 2: Demand2m 15s
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Pricing variable 3: First of a Kind2m 3s
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Pricing variable 4: Uniqueness2m 44s
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Pricing variable 5: Scarcity2m 14s
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Pricing variable 6: Quality2m 32s
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Pricing variable 7: Margin2m 8s
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Pricing variable 8: Customer perception of value1m 46s
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Scoring your pricing influencers4m 27s
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