Dec 16, 2021: Product Pricing
Always go with the pricing model, what fits best for your business, and the products you sell. You should also know about your exit plan, who is likely to buy your business as pricing strategy also has a huge impact on it.
One of the common ways is looking at your competitors’ pricing and then settling your pricing.
✔️ Free should be a part of your pricing strategy.
✔️ If you are looking at a long period and expect your customer to stay with you for years and years, you can definitely offer your business or product for free, for a month or two.
✔️ Subscription pricing is something which reoccurs every month, this is alone one of the good strategies to look at but then it also depends on the product or services you are selling.
✔️ If you have a consulting or coaching business, hourly-based pricing is also one of the models you choose.
✔️ One is discount strategy, as winter sale or festival sale you can price your products under discounts or offers.
✔️ Geographic pricing is where you set your price based on the country or city as the market is not the same across global.