Without a coherent pricing strategy in the B2B arena, your customers and potential customers may be confused about how your products and services deliver value for them.
- Without a coherent pricing strategy,…in the business to business, or B2B arena,…your customers and potential customers…will be confused about how your products…and services deliver value.…B2B pricing is more complex than B2C pricing,…because the organizational buying unit…is usually more complex and sophisticated…than are individual consumers.…When companies buy products and services,…they're buying a collection of benefits.…
You can categorize those benefits into three types.…Functional benefit refers…to a product's physical performance.…For example, when buying a car,…functional benefits include the size of the engine,…passenger seating or how the car handles.…Economic benefits are related…to saving money or saving time.…With a car, economic benefits would include…the miles per gallon, annual maintenance cost,…or perhaps the car's reliability.…
And finally are emotional benefits.…These are related to the psychological feelings…you get when using a product.…For a car, it would include things…like status or self-esteem.…
Author
Drew Boyd
Released
3/27/2018Drew 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
Skill Level Intermediate
Duration
Views
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Introduction
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Welcome1m 1s
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Exercise files27s
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1. Understanding B2B Pricing
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What is B2B pricing?3m 16s
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Why B2B pricing is important3m 11s
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2. Understanding Pricing Principles
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Defining value3m 4s
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3. Understanding the B2B Pricing Process
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Organizing for B2B pricing2m 58s
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Creating pricing tiers3m 29s
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Communicating price3m 11s
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4. Understanding B2B Pricing Techniques
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Managing price competition3m 32s
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Conclusion
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Next steps2m 9s
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Video: Why B2B pricing is important