The process is to first define the marketing strategy, then align the pricing strategy, then set the price, then communicate the price, and then confirm price commitments.
- Setting prices is as easy as writing a number…on a price tag, right?…Well, not exactly.…In B2B pricing you need to follow a disciplined process.…First, create a cross-functional team.…Pricing is hard, so it makes sense to harness…the brainpower of others to make sure you do it right.…You'll need talented people from many parts…of your organization.…Next is define your marketing strategy.…You don't want to be guilty of setting prices…and then asking, hmm, based on our prices…what must our strategy be?…No.…
It needs to be the other way around.…Ask what your strategy is first.…With an overall marketing strategy in place,…you can now create a pricing strategy that is…completely aligned around it.…All aspects of the marketing mix must work in harmony…if you're going to succeed in the market.…With a clear pricing strategy, your next step is to set…the actual price of the product.…This must be tied to the value that your products…or services deliver.…
And I'll show you how to do that.…Now, many people mistakenly believe that once you set…
Drew explains how to think about price when it comes to B2B business transactions-and understand the important relationship between cost, price, and value. He also shows how to define value, identify stakeholders, and link pricing to your overall marketing strategy. Plus, learn to use tools such as the value ladder and pricing tiers to gain leverage in price negotiations.
- What is B2B pricing?
- Defining value
- Linking marketing and pricing
- Creating pricing tiers
- Managing pricing competition