Create a Profitable Pricing Strategy - Competition and Margins

Gain an understanding of how margins work so that you can choose the right price for your product or service. Having a justified pricing strategy will help you avoid common mistakes such as guessing at price-setting, skipping competitive pricing research, leaving money on the table with a too-low price, or misunderstanding the whole value of what you're offering.

Learn how supply and demand for your product or service impact price, how to quantify the level of value you're delivering (don't under-value it!), and how market forces impact your pricing. 

You will learn…

• How to calculate direct margin for your product or service
• How to determine what price to charge at retail
• Specific questions you must ask about your competitors' pricing strategy
• How to use competitive information to inform your pricing strategy
• Standard margins for a host of industries 

This course is part of a larger series on creating a profitable pricing strategy.  To learn more, you can watch the following courses in this series.  

• Create a Profitable Pricing Strategy- The Fundamentals
• Create a Profitable Pricing Strategy- Pricing Influencers
• Create a Profitable Pricing Strategy - Pricing Models