Pricing workshop prep sheet

Many managers and executives are uncertain about their pricing, especially as they plan to go to market with a new product or service. They ask themselves questions like the following:

  • Will we be leaving money on the table?

  • Can we "take price" and substantially drive higher profits?

  • What price is the best to gain market share without totally killing our profits?

  • What is the "right" price for our new product or service?

  • If we increase the price, will we lose our best customers? Will we see an immediate drop in sales and tarnish our brand? Will customers flee to the competition? 

These questions (and more) can be answered with value research; rigorous, scientific, statistically valid online market research into your market in order to measure willingness to pay and to understand:

  • What is the most desirable customer persona? Meaning the persona that generates the highest sales volume and revenue?

  • What marketing channels and marketing messages are more effective in converting the most desirable customer persona at the most profitable prices?

  • What product or service features and benefits drive a higher willingness to buy and willingness to pay? Driving higher sales volume at more profitable prices.

  • What sales channels and sales methods are most effective in driving the highest possible sales volume at the most profitable prices?

  • What pricing and monetization strategy minimizes sales friction and drives the highest possible sales volume, revenue, and profits?

And most importantly:

  • Are you prepared to grow your company to the next level?