Pricing
Effective guidelines at determining your pricing strategy
Consumers accept many compromises when they choose products. Price is one of the factors – but certainly not the only one – affecting their decisions. Compromises happen when they choose among different advantages and value they expect to gain from the product, and the price they are willing to pay for given advantages.
When determining the price of products we have to take into account various factors including:
- emerging trends,
- the historical development of the market,
- product and pricing elasticity,
- as well as product complexity.
Setting the price is key to the design of any products offer, which is why at Valicon we always use our Price-Icon methodology and its results (the optimal price for the client) in the context of the client company’s need for survival and growth, company strategies and market situations. Our goal is an optimal price based on all these factors.