I have, in previous posts, raised the importance of defining the industry and to understand what the company offers to its customers, i.e., which right to existence the company has. Once you know your industry, what to offer, and who your customers are, you then need to decide the price of the product.
A while ago I got the question from some young entrepreneurs asking how to price their products. There are, of course, many different more or less complex pricing and business models. However, I decided to share three very basic methods, and I believe these might also be of interest to some of you who read my blog. The basis for the three models are:
- Market pricing
- Customer valueRead More »Pricing