Set Pricing to Improve Margins and Market Share
|Change your pricing policies to take advantage of opportunities to use price for more profit and growth.|
What steps should I take?
We have designed StrategyStreet to work in levels. Begin with the most basic level and proceed to more complex levels only as you find the greater detail necessary and helpful. Consider each of the steps below for your situation and then use only those that offer you immediate help.
|Step 1. Watch the Three Videos in the Overview of Pricing Series
These videos describe how to look at pricing in your market, what to expect as your market matures and what to do about these developments.
|Step 2. Answer the Pricing Questions in Board of Directors
Review the Pricing questions, Questions 7-8, in the Board of Directors section of StrategyStreet. Determine whether you can answer them to your satisfaction.
If you would like to pursue these questions in more detail, go to Step 3. If you feel you have a good understanding of your market and simply wish to develop new ideas, skip to Step 4.
|Step 3. Complete Activity Three: Steps 19 to 23 in the Basic Strategy Guide
Each step in Activity Three outlines a specific analysis for you to do. It shows you what the completed analysis looks like, and tells you how to do it. Each step explains why the analysis is important, advises you on what to expect to see, and then recommends an action or decision you might take at the completion of the step.
|Step 4. Develop New Approaches to Pricing
Use the Improve/Pricing section of StrategyStreet to develop new pricing policies based on your Core customers’ needs and on openings provided by your competitors.
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