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AOT-07-06-Business-Pricing Strategies

Authors

1- The product

1.1- Overview

  • What is the product and what makes it unique or valuable?
  • What are the key features and benefits of the product?
  • What is the target market for the product?

1.2- Competitors

  • Who are the main competitors for the product?
  • What are the key differences between the product and its competitors?
  • What are the pricing strategies of the competitors?

1.3- Industry and market

  • What is the current state of the industry and market for the product?
  • What are the key trends and developments in the industry and market?
  • What are the potential risks and opportunities in the industry and market?

1.4- Development and launch

  • What were the costs associated with developing and launching the product?
  • What were the key challenges and successes in developing and launching the product?
  • What was the response of the market to the product upon launch?

2- Pricing strategy

2.1- Overview

  • What is the overall pricing strategy for the product?
  • Is the pricing based on cost, value, or competition?
  • What are the key factors that will determine the price of the product?
  • How will the pricing strategy evolve over time?

2.2- Determining the price

  • How was the price of the product determined?
  • What data and information was used to inform the pricing decision?
  • What assumptions were made about the market and competition when determining the price?

2.3- Responding to market and competition

  • How will the pricing strategy account for changes in the market or competition?
  • What are the key triggers for adjusting the pricing strategy?
  • Who is responsible for monitoring and responding to market and competition changes?

2.4- Customer value and perception

  • How does the pricing strategy reflect the value of the product to the customer?
  • What is the expected customer perception of the price of the product?
  • How will the pricing strategy be communicated to the customer?

3- Supply and demand

3.1- Overview

  • What is the current supply and demand for the product?
  • How does the pricing strategy impact the supply and demand for the product?
  • How will changes in the market or competition affect the supply and demand for the product?

3.2- Market equilibrium

  • How will changes in pricing affect the market equilibrium for the product?
  • What is the expected impact of the pricing strategy on the supply and demand for the product?
  • How will the pricing strategy account for shifts in the market equilibrium?

3.3- Substitutions

  • Are there any potential substitutes for the product?
  • How does the pricing strategy account for the presence of substitutions?
  • What is the potential impact of substitutions on the pricing strategy?

3.4- Supply chain and logistics

  • How does the pricing strategy account for the costs of supplying and delivering the product?
  • What are the potential constraints on the supply chain and logistics for the product?
  • How will changes in the supply chain or logistics affect the pricing strategy?

4- Revenue and profitability

4.1- Overview

  • What is the expected revenue and profit margin for the product?
  • How does the pricing strategy impact the expected revenue and profitability?
  • What are the key assumptions and risks associated with the revenue and profitability projections?

4.2- Pricing sensitivity

  • What is the expected price sensitivity of the product in the market?
  • How will changes in the price of the product affect the demand and revenue?
  • What is the price elasticity of the product?

4.3- Margin management

  • What are the key drivers of the profit margin for the product?
  • How will changes in the cost structure or market conditions affect the profit margin?
  • What are the potential risks to the profit margin?

4.4- Revenue and profit goals

  • What are the revenue and profit goals for the product?
  • How will the pricing strategy contribute to achieving the revenue and profit goals?
  • What are the potential risks and opportunities to achieving the revenue and profit goals?

5- Execution and evaluation

5.1- Implementation plan

  • How will the pricing strategy be implemented?
  • Who is responsible for executing the pricing strategy?
  • What resources and support are needed for implementing the pricing strategy?

5.2- Monitoring and control

  • What metrics will be used to monitor the effectiveness of the pricing strategy?
  • How will the pricing strategy be adjusted based on the monitoring results?
  • Who is responsible for monitoring and controlling the pricing strategy?

5.3- Evaluation and feedback

  • What metrics will be used to evaluate the overall effectiveness of the pricing strategy?
  • How will the evaluation results be used to adjust and improve the pricing strategy?
  • Who is responsible for conducting the evaluation and providing feedback?

5.4- Risk management

  • What are the potential risks to the pricing strategy?
  • How will the pricing strategy account for and mitigate these risks?
  • Who is responsible for managing and monitoring the risks associated with the pricing strategy?

6- Marketing and sales

6.1- Overview

  • How does the pricing strategy fit into the overall marketing and sales strategy for the product?
  • What are the key messages and positioning for the product in relation to its pricing?
  • How will the pricing strategy be communicated to the sales team and customers?

6.2- Marketing mix

  • How does the pricing strategy align with the other elements of the marketing mix (product, place, promotion, people, process, and physical evidence)?
  • What are the potential impacts of the pricing strategy on the other elements of the marketing mix?
  • How will the pricing strategy be integrated with the overall marketing plan?

6.3- Sales process

  • How will the pricing strategy be incorporated into the sales process?
  • What are the potential impacts of the pricing strategy on the sales process and outcomes?
  • How will the pricing strategy be communicated and negotiated with customers during the sales process?

6.4- Customer segmentation and targeting

  • How does the pricing strategy account for the different customer segments and target markets?
  • What are the potential impacts of the pricing strategy on the customer segments and target markets?
  • How will the pricing strategy be tailored to the needs and preferences of the different customer segments and target markets?

7- Legal and regulatory

7.1- Overview

  • What are the legal and regulatory considerations for the pricing strategy?
  • What are the potential risks and opportunities associated with the pricing strategy in relation to legal and regulatory requirements?
  • Who is responsible for ensuring compliance with legal and regulatory requirements in relation to the pricing strategy?

7.2- Pricing laws and regulations

  • What are the key laws and regulations that apply to the pricing of the product?
  • How do these laws and regulations impact the pricing strategy?
  • What are the potential penalties and risks associated with non-compliance with the pricing laws and regulations?

7.3- Competitive practices

  • What are the key competitive practices that apply to the pricing of the product?
  • How do these competitive practices impact the pricing strategy?
  • What are the potential risks and opportunities associated with the competitive practices in relation to the pricing strategy?

7.4- Contractual agreements

  • What are the key contractual agreements that impact the pricing of the product?
  • How do these contractual agreements impact the pricing strategy?
  • What are the potential risks and opportunities associated with the contractual agreements in relation to the pricing strategy?

8- Customer satisfaction and loyalty

8.1- Overview

  • How does the pricing strategy impact customer satisfaction and loyalty?
  • What are the key metrics for measuring customer satisfaction and loyalty in relation to the pricing strategy?
  • How will the pricing strategy be adjusted based on customer feedback and loyalty metrics?

8.2- Customer expectations

  • How does the pricing strategy align with the customer expectations for the product?
  • What are the potential impacts of the pricing strategy on customer expectations?
  • How will the pricing strategy be adjusted based on customer feedback and expectations?

8.3- Customer value

  • How does the pricing strategy reflect the value of the product to the customer?
  • What are the potential impacts of the pricing strategy on the perceived value of the product to the customer?
  • How will the pricing strategy be adjusted based on customer feedback and perceptions of value?

8.4- Customer loyalty

  • How does the pricing strategy impact customer loyalty?
  • What are the potential impacts of the pricing strategy on customer retention and repeat purchases?
  • How will the pricing strategy be adjusted based on customer loyalty metrics and feedback?