Creating a clear price positions should be based on your customer’s willingness to pay, the influences on price in each market and the features of your product or service that are most valued by your customers. It enables your business to command price premiums v your competitors and defend yourself against customers who demand lower prices. Ultimately, companies that execute excellent Price Management practices earn profit margins 24% more than their competitors*.
Margin2 use a range of tools to help businesses create clear price positions:
Pricing Journey Assessments – we conduct a structured review of your current price management techniques based on the template. The assessment identifies quick pricing wins and the greatest opportunities to deliver performance improvements.
New Product Launches – we use strategic price management techniques and conduct customer research to identify the optimum price for a new product by understanding its key value drivers and the willingness to pay of prospective customers.
E mail us at firstname.lastname@example.org to find out more about how Margin2 can improve your price positioning.
* (Source Hogan 2011)