Create a Profitable Pricing Strategy MasterClass

Learn the fundamentals of creating a profitable pricing strategy using proven methodolgy that helps customers to see the value of your business.

• WHAT PRICING COMMUNICATES ABOUT YOUR PRODUCTS AND SERVICES 13:56

  • 1: Pricing Strategy Overview Preview 02:59
  • 2: What Price Communicates 05:00
  • 3: Scenario-Based Pricing 01:54
  • 4: Types of Pricing Strategies 01:37
  • 5: What Investors are Looking for in Your Pricing Strategy 01:41
  • 6: Test Your Pricing 00:45

• PRICING MODEL BASICS 08:29

  • 7: The 3 Pricing Models 02:46
  • 8: Guess The Pricing Model 02:33
  • 9: Examples of Pricing Models 01:18
  • 10: Case Study T-Shirt Pricing 01:52

• PRICING MODEL - PART 1 23:08

  • 11: Common Pricing Strategy Mistakes 02:09
  • 12: 5 Key Steps to Pricing Strategy 01:18
  • 13: Researching Your Market 05:00
  • 14: Case Study Researching the Competition 02:58
  • 15: Know Your Margins 09:35
  • 16: Average Industry Margins 02:08

• PRICING MODEL PART 2 - PRICE INFLUENCERS 23:36

  • 17: Pricing Influencers Explained 01:45
  • 18: Pricing Variable 1 - Competition 01:16
  • 19: Pricing Variable 2 - Demand 02:19
  • 20: Pricing Variable 3 - First of a Kind 02:08
  • 21: Pricing Variable 4 - Uniqueness 02:48
  • 22: Pricing Variable 5 - Scarcity 02:19
  • 23: Pricing Variable 6 - Quality 02:36
  • 24: Pricing Variable 7 - Margin 02:12
  • 25: Pricing Variable 8 - Customer Perception of Value 01:46
  • 26: Scoring Your Pricing Influencers 04:27

• PRICING MODEL PART 3 - PRICING MODELS 20:38

  • 27: Overview of Pricing Models 00:38
  • 28: Cost-Based Pricing Pros and Cons 03:26
  • 29: Market-Based Pricing Pros and Cons 03:37
  • 30: Value-Based Pricing Pros and Cons 05:18
  • 31: Choosing a Pricing Model 02:25
  • 32: Common Mistakes in Pricing 02:08
  • 33: Setting Your Price Case Study 03:06

• WORKSHOP 06:34

  • 34: Workshop - Create Your Pricing Strategy 04:34
  • 35: Create a Profitable Pricing Strategy For Your Business Quiz 02:00

Pricing can determine whether your business succeeds or fails – yet too many entrepreneurs rely on guesswork or back-of-the-napkin calculations to set prices. This learning stream reveals a proven methodology for developing a pricing strategy, as well as ways to increase customer perceptions of value so you can justify higher prices and boost margins. As part of the process, you’ll learn how investors evaluate pricing strategies, the advantages and drawbacks of different pricing models, how to calculate margins, average margins for specific industries and retail categories, how to gauge price sensitivity, and how to build a pricing profile specific to your offering based on eight key variables. Tips and examples are included for both product- and service-based businesses, as well as businesses that contend with seasonal pricing variations. The session offers guidance on bundling, discounting, and other pricing techniques, which you can apply in a workshop session that walks through the pricing strategy framework step by step.

You will learn…

• How do customers perceive price and value?
• What will customers pay more for?
• Why is pricing important to potential investors?
• Which pricing model should I use for my business?
• How do I determine how much pricing flexibility I have?
• How can I justify higher prices in a competitive market?
• What are ways I can add value that boost margins, not costs?

About Your Instructor

Ken Burke, founder and CEO of The EntrepreneurNOW! Network, is a speaker, serial entrepreneur, mentor, and author. Ken founded MarketLive, a market-leading, enterprise class eCommerce software platform used by major merchants generating $2b in online sales through the platform. He sold MarketLive to Vista Equity Partners in 2016. Ken authored the book, “Intelligent Selling: The Art and Science of Selling Online,” as well as hundreds of industry articles. He earned his MBA in Entrepreneurship from University of Southern California -Marshall School of Business, which later awarded him the honor of Entrepreneur of the Year.

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Reed courses certificate of completion

Digital certificate - Included