Finance - Pricing: Create a Profitable Pricing Strategy: Pricing Models

Understanding the right pricing model to use in your business is critical to your success. In this course, we will guide you through which pricing model is the right fit for your business. We will dive deep into the advantages and disadvantages of the three primary pricing models used. These pricing models are: - Cost based - Market based - Value based And here is a quick secret. There is no question that value based pricing is by far the best pricing model you can use however your industry might force you into one of the other two. We will give you proven strategies that can help you take maximum advantage of value based pricing. Included are examples of products and service from a variety of industries—travel, retail, furniture, and tech. This walk-through also covers margin considerations for ensuring that your pricing model is financially sound. 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 - Competition and Margins - Create a Profitable Pricing Strategy - Pricing Influencers