![6 Pricing Model Strategies To Rake In Better Profits [Best Templates Included]](https://www1.slideteam.net/wp/wp-content/uploads/2021/02/Size-1013x441-5.jpg)
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You have beaten the odds in building an exceptional product, and now it’s time to launch it in the market. But wait! Have you decided on the product pricing yet? At what cost will you pitch your product to the customers? Will you throw a random number into the conversation and decide it sticks? How will you jump to the pricing conclusion? Well, these questions are enough to give you a wake-up call about the urgency of pricing psychology. It is the approach that will make your company sail or sink, depending upon what price you have set for the goods.
“The moment you make a mistake in pricing, you're eating into your reputation or your profits.” - Katharine Paine
As per the above quote, don’t fall into the trap of keeping the price product too low - it may affect the supply-demand model and you won’t get any profit. Set the price too high, and you will drive your loyal customers away. For organizations, setting the right price is the hardest job. It is because of the similar chunks of the product in the market.
In this fast-paced and competitive sector, organizations want to build a decent customer base, and this takes place by selling a qualitative product at a reasonable rate. And, this will take place by adopting a strategic product pricing model. Even a major brand like Starbucks has epitomized how a business can maximize its revenue rate by adopting pricing model strategies. Read on to know more about the secret sauce.
Unmasking The 6 Pricing Model Strategies
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Competition-Based Pricing
This pricing strategy is suitable for your business in every aspect. In this, you need to check out your competitor’s product price as a benchmark and monitor how they are landing more customers. By doing this, you can set your product's pricing slightly higher or below than that of your competitors. This pricing strategy will always keep you ahead of your opponents.
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Demand Pricing
It is also known as dynamic pricing or time-based pricing. This strategy works when the product price fluctuates based on the market and customer demand. You can shift the rate of your product as per the consumer's willingness to purchase it. This demand pricing strategy will help you gain and retain loyal customers.
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Discount Pricing
Ever heard of the Black Friday and Cyber Monday sale? Yes, that’s what discount or high-low pricing is all about. To elaborate, it is the pricing strategy where the company initially raises the product cost but lowers the rate when the product drops in relevance. This strategy is the best to bag innumerable customers.
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Premium Pricing
This strategy is apt for the big brands that launch luxury products in the market. They keep their product prices high so that the customers know the brand is of high-value and the products are exclusive. You can also follow this premium pricing strategy to make an impeccable brand reputation before your customers.
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Bundle Pricing
Buy one and get two complementary products. This tagline is in fact the best tactic to hook your customers. In bundle pricing strategy, you can offer two free products together and sell them at a single price. This strategy will drive more value to your offerings and help you land more customers.
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Geographic Pricing
You can apply this strategy if you want to ship your products overseas. Yes! This pricing strategy helps you adjust the selling price of an item as per the consumer’s location. In this, you can cover the product price inclusive of shipping charges. If customers love your product and are willing to pay, your brand will boom in the respective geographical location.
These pricing strategies will majorly assist you in positioning your brand. So it is crucial that you discuss them with your bosses and team members via a well-devised presentation. Check out our striking product pricing templates below to drive the point home by utilizing insights in your presentation.
Top Pricing Model Strategies Templates To Download And Use
Template 1
Select the best pricing strategy that you think will help your brand grow substantially. While launching a product, work on its cost structure by utilizing this ready-made template. The deck is topic-specific and comprises a total of 33 editable slides. Each slide contains relevant information about the pricing model. You can download it and start your work instantly.
Template 2
Implement value-based pricing effectively by using this template. The creative bundle consists of a total of 24 slides, each briefing about the various types of planning related to the cost structure. Without any delay, get access to this eye-catching deck.
Template 3
Create an ultimate guide to product pricing models with the aid of our visually-attractive template. You can share the different pricing model strategies with your viewers and leave a lasting impression on them. The best thing about this template is that it is fully editable, which means you can tweak the content as per your needs.
Template 4
Put together all the pricing models in your presentation by employing this easily-accessible template. In this deck of 41 slides, you can talk about vital price-related components. The various high-quality features present in the deck enhance the look and feel of your presentation. Just tap on the template and start exploring it.
Template 5
The pricing model not only enhances your reputation but also drives your revenue. So here we offer you a template that caters to all your business needs effectively. You can personalize your content, fill in your headings with colors, modify the fonts, etc. If you simply want to learn about pricing model strategies, you can get access to this deck.
Template 6
Product pricing is a vital approach for your business. It can make or break your professional journey. Talk about the pricing strategies we listed in this blog using this creative set. You can also mention other models which you think are best for your business. Also, the template is content-ready which gives you enough knowledge to price your products.
Template 7
Get access to this pre-designed template and get a clear understanding of pricing strategies. There are a lot of elements that come under product costing, and you can learn all of them from this deck. The template can be downloaded in easy steps. So grab it now and get started before it gets too late.
Template 8
Pricing model is a vast concept and its strategies are pivotal for your business growth. Adopt this template to let the viewers know about its importance in the corporate sector. Jot down all the valid points which you think are best for pricing your product. Grab this template to convey your message to the audience clearly.
Template 9
This exceptional slide with a dollar image in the background is here to assist you in creating an appealing presentation. Bring the audience’s attention to the 3 pricing model strategies like cost-plus, competitor-based, and value-based pricing. The template has enough text room where you can add more information to make it subjective and engaging.
Template 10
List the advantages of following pricing model strategies in an organized manner with the aid of this easy-to-use template. By utilizing this slide, you can make amendments in your content and make it more readable for your audience. Just a few clicks on the template, and you get access to it.
It all adds up...
Now that you have got a closer look at various pricing model strategies, you can implement them and amp up your revenue. Moreover, our templates can be a huge add-on to optimize the price of your product conveniently. Landing more customers won’t be a daunting job for you anymore. Set the price right and share your experience in the comment section below!
Related read: The Ultimate PowerPoint Template Toolkit For Effective Strategic Management in 2021
