{"id":24513,"date":"2021-07-12T17:04:03","date_gmt":"2021-07-12T14:04:03","guid":{"rendered":"https:\/\/www.ibtdi.com\/?p=24513"},"modified":"2021-07-12T17:04:03","modified_gmt":"2021-07-12T14:04:03","slug":"how-to-initially-pricing-products","status":"publish","type":"post","link":"https:\/\/www.ibtdi.com\/en\/how-to-initially-pricing-products\/","title":{"rendered":"How to Set Initial Prices for Products"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.ondeck.com\/wp-content\/uploads\/2016\/07\/Screen-Shot-2016-07-06-at-10.10.35-AM-1.jpg\" alt=\"7 Key Factors to Building a Good Pricing Strategy - OnDeck\" width=\"673\" height=\"447\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">When you fail to set <a href=\"https:\/\/www.ibtdi.com\/en\/product-pricing-strategies\/\">\u062a\u0633\u0639\u064a\u0631<\/a> the right price for your product, you put its market value at risk. And if you're looking for one of the biggest<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> challenges facing both executives and finance leaders, here it is: setting the right price<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> to attract customers and maximize profits. So we need to be clear that pricing is one of<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> the most difficult and complex tasks as a company grows, its customer base expands, markets overlap, and competitors enter.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> in their many forms.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #0000ff;\"><strong>Benefits of an initial pricing model:<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">We\u2019re not going to discuss this complexity or examine it in detail here. There are many articles and books devoted to<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> \u0628\u062f\u0631\u0627\u0633\u0629 \u0627\u0644\u0623\u0645\u0631 \u0645\u0646 \u062c\u0645\u064a\u0639 \u062c\u0648\u0627\u0646\u0628\u0647, \u0644\u0643\u0646 \u0645\u0647\u0645\u062a\u0646\u0627 \u0648\u0646\u062d\u0646 \u0641\u064a \u0647\u0630\u0647 \u0627\u0644\u0645\u0631\u062d\u0644\u0629 \u0647\u0648 \u0645\u062c\u0631\u062f\u00a0<strong>\u062a\u0633\u0639\u064a\u0631 \u0623\u0648\u0644\u064a\u00a0<\/strong>take our current stage into account,<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> which is the initial product stage. Therefore, the pricing model should have the following benefits:<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #00ccff;\"><strong>- A clear pricing model that\u2019s easy to understand at a glance:<\/strong><\/span> Customers shouldn\u2019t have to think too hard to understand<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> the cost based on their requirements. The model should be simple and straightforward, with no complicated calculations.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #00ccff;\"><strong>- The model gives customers access to a free trial:<\/strong><\/span>\u00a0\u062a\u062a\u064a\u062d \u0647\u0630\u0647 \u0627\u0644\u0641\u062a\u0631\u0629 \u0644\u0644\u0645\u0633\u062a\u0647\u0644\u0643 \u0623\u062e\u0630 \u0627\u0644\u0645\u0628\u0627\u062f\u0631\u0629 \u0628\u0627\u0644\u0634\u0631\u0627\u0621 \u0623\u0648 \u0627\u0644\u062a\u0633\u062c\u064a\u0644<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> for the product. However, one downside of this approach is that some offer too many features or an excessively long free trial,<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> This approach should be measured and carefully considered.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #00ccff;\"><strong>It must generate a profit:<\/strong><\/span>\u00a0\u062a\u0635\u0648\u0631 \u0623\u0646 \u064a\u0643\u0648\u0646 \u0633\u0639\u0631 \u0627\u0644\u0645\u0646\u062a\u062c \u0642\u0627\u0628\u0644\u0627 \u0644\u0644\u0628\u064a\u0639 \u0648\u0644\u0643\u0646 \u0644\u0627 \u064a\u0639\u0648\u062f \u0628\u0641\u0627\u0626\u062f\u0629 \u0648\u0639\u0627\u0626\u062f \u0645\u0627\u062f\u064a \u0645\u0642\u0628\u0648\u0644, \u0637\u0628\u0639\u0627<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> This is never acceptable. Selling at a price that fails to deliver the required value is not a marketing strategy; it\u2019s a path to failure.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">We all know there are many pricing models, and each one suits a particular way of presenting, selling, and using a product, as well as<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> the target market and what customers in that market are accustomed to.<\/span><\/p>\n<p>.<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u0627\u0642\u0631\u0623 \u0623\u064a\u0636\u0627\u064b:<a href=\"https:\/\/www.ibtdi.com\/en\/%d8%a7%d8%b3%d8%aa%d8%b1%d8%a7%d8%aa%d9%8a%d8%ac%d9%8a%d8%a9-%d8%a7%d9%84%d8%aa%d8%b3%d8%b9%d9%8a%d8%b1-%d9%84%d8%aa%d8%b9%d8%b8%d9%8a%d9%85-%d8%b1%d8%a8%d8%ad%d9%8a%d8%a9-%d8%b9%d9%85%d9%84%d9%83\/\">A Pricing Strategy to Maximize Your Business\u2019s Profitability<\/a><\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #0000ff;\"><strong>How do you price your product and set an initial price?<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Many factors can constrain your pricing strategy and the price you\u2019re comfortable setting, such as customers\u2019 purchasing power,<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> competitors\u2019 prices in the market, the value customers perceive, and how strongly they feel<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> \u0627\u0644\u0639\u0645\u064a\u0644 \u0628\u062d\u062c\u0645 \u0627\u0644\u0645\u0634\u0643\u0644\u0629 \u0628\u062f\u0648\u0646 \u0627\u0644\u0645\u0646\u062a\u062c &#8230;\u0627\u0644\u062e.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Above all, you need an initial price that lets you make sales and earn at least an acceptable minimum return,<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> while beginning the learning process in the market.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Here, I can offer practical advice: find an acceptable initial pricing model, then enter<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> the market as quickly as possible and learn how to adjust it later. Here\u2019s how:<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Look at your competitor and use their model, pricing your product 10\u201315% lower to compete.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">If you don\u2019t have a direct competitor, look for an indirect competitor offering a service somewhat similar to yours,<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> and use their model with a 10\u201315% price reduction.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">If none of the above applies, simply prepare a model you think is suitable.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u00a0\u0648\u0645\u0646 \u062b\u0645 \u0642\u0645 \u0628\u0633\u0624\u0627\u0644 \u0632\u0628\u0627\u0626\u0646\u0643 \u0627\u0644\u0645\u062d\u062a\u0645\u0644\u064a\u0646 \u0639\u0646 \u0631\u0623\u064a\u0647\u0645 \u0628\u0634\u0643\u0644 \u0630\u0643\u064a \u0644\u0644\u062d\u0635\u0648\u0644 \u0639\u0644\u0649 \u0627\u0644\u0625\u062c\u0627\u0628\u0627\u062a.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Don\u2019t overthink it, but stay alert. Avoid setting an unreasonable price that\u2019s so high it keeps you out of the market or makes people question <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">your product\u2019s quality because it\u2019s too low.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/multichannelmerchant.com\/wp-content\/uploads\/2020\/06\/pricing-strategy-illustration-feature.jpg\" alt=\"Pricing Strategies to Optimize Customer Loyalty in Uncertain Times\" width=\"678\" height=\"359\" \/><\/p>\n<p>.<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u0627\u0642\u0631\u0623 \u0623\u064a\u0636\u0627\u064b:<a href=\"https:\/\/www.ibtdi.com\/en\/%d9%85%d8%a7%d9%87%d9%88-%d8%a7%d9%84%d9%88%d9%82%d8%aa-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d8%b3%d8%a8-%d9%84%d8%aa%d8%ba%d9%8a%d9%8a%d8%b1-%d8%ae%d8%b7%d8%a9-%d8%a7%d9%84%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1\/\">When Is the Right Time to Change Your Pricing Plan?<\/a><\/span><\/p>\n<p>.<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">As is well known among <a href=\"https:\/\/www.ibtdi.com\/en\/top-3-lessons-learned-from-the-success-of-entrepreneurs\/\">\u0631\u0648\u0627\u062f \u0627\u0644\u0623\u0639\u0645\u0627\u0644<\/a> offering a product at a low price and then gradually raising it is frustrating<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> for customers and can put you in an awkward position in the market. You can solve this problem by setting a higher price and offering discounts.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> Offer monthly or annual discounts to attract customers. As your product evolves, you can reduce these discounts over time. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Or eliminate them entirely.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">But how can you tell whether your product\u2019s pricing and strategy will generate a satisfactory financial return? As mentioned, it\u2019s difficult to know for sure.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> You\u2019ll need to examine several variables to track and understand the return from each sale over a given period of time.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> But don\u2019t worry\u2014at this stage, it\u2019s enough to look at production and marketing costs multiplied by the number of contracts you expect to<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> sign within a specific period.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u0644\u0646\u0623\u062e\u0630 \u0645\u062b\u0627\u0644\u0646\u0627 \u0627\u0644\u0633\u0627\u0628\u0642 \u0648 \u0647\u0648 \u062a\u0637\u0628\u064a\u0642 \u0627\u0644\u0647\u0648\u0627\u062a\u0641 \u0627\u0644\u0630\u0643\u064a\u0629 &#8220;\u0627\u0644\u0645\u0648\u0642\u0641 \u0627\u0644\u0630\u0643\u064a&#8221;, \u064a\u0645\u0643\u0646\u0646\u0627 \u0628\u064a\u0639 \u0627\u0644\u062a\u0637\u0628\u064a\u0642 \u0628\u0633\u0639\u0631 \u062b\u0627\u0628\u062a \u0639\u0646\u062f \u0627\u0644\u062a\u062d\u0645\u064a\u0644<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> or charge a recurring monthly fee. We could also make it completely free and take a commission from parking<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> \u0627\u0644\u0645\u0648\u0627\u0642\u0641, \u0623\u0648 \u0646\u0623\u062e\u0630 \u0639\u0645\u0648\u0644\u0629 \u0645\u0646 \u0623\u0635\u062d\u0627\u0628 \u0627\u0644\u0633\u064a\u0627\u0631\u0627\u062a \u0639\u0644\u0649 \u062d\u0633\u0628 \u0639\u062f\u062f \u0645\u0631\u0627\u062a \u0627\u0644\u0631\u0643\u0646 &#8230;\u0627\u0644\u062e.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">As you can see, there are many options. But for an app like this, we can see that <a href=\"https:\/\/www.ibtdi.com\/en\/7-marketing-methods-to-overcome-competitors\/\">Competitors<\/a> For example, they take a<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> small commission from parking lot owners only, without charging car owners, because the app<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> It will be completely free for consumers, so adoption will be very rapid\u2014and widespread adoption is the key to its success.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> More use means more people using the parking spaces and, therefore, higher returns. From parking lot owners\u2019 perspective, taking a commission<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> of a small portion of the parking fee would be enough to fill their garage and generate more revenue.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">We can see that there are many options, but you should also consider the customer\u2019s perspective and think on their behalf as they make a purchasing decision.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Go ahead and choose your pricing model, and don\u2019t worry about changing it later once you\u2019ve studied the market and learned more.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Once you have your initial pricing model, you\u2019re ready for the next stage: acquiring pilot customers.<\/span><\/p>\n<p style=\"text-align: center;\">","protected":false},"excerpt":{"rendered":"<p>&nbsp; \u0639\u0646\u062f\u0645\u0627 \u062a\u062e\u0637\u0626 \u0641\u064a \u0648\u0636\u0639 \u062a\u0633\u0639\u064a\u0631 \u0635\u062d\u064a\u062d \u0644\u0645\u0646\u062a\u062c\u062a\u0643, \u0641\u0625\u0646\u0643 \u062a\u0647\u062f\u062f \u0642\u064a\u0645\u062a\u0643 \u0641\u064a \u0627\u0644\u0633\u0648\u0642, \u0648\u0625\u0646 \u0643\u0646\u062a \u062a\u0628\u062d\u062b \u0639\u0646 \u0623\u0643\u0628\u0631 \u0627\u0644\u062a\u062d\u062f\u064a\u0627\u062a \u0644\u062f\u0649 \u0627\u0644\u0645\u062f\u0631\u0627\u0621 \u0627\u0644\u062a\u0646\u0641\u064a\u0630\u064a\u064a\u0646 \u0648\u0627\u0644\u0645\u0627\u0644\u064a\u064a\u0646 \u0639\u0644\u0649 \u062d\u062f \u0633\u0648\u0627\u0621,<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":3,"featured_media":24514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ibtdi_aa_focus_keyword":"","_ibtdi_aa_secondary_keywords":"","_ibtdi_aa_audience":"","_ibtdi_aa_tone":"","_ibtdi_aa_summary":"","_ibtdi_aa_reviewer_name":"","_ibtdi_aa_reviewer_bio":"","_ibtdi_aa_reviewer_url":"","_ibtdi_aa_reviewed_date":"","_ibtdi_aa_service_id":"","_ibtdi_aa_related_ids":"","_ibtdi_aa_human_reviewed":"","_ibtdi_aa_disable":"","_ibtdi_aa_disable_links":"","_ibtdi_aa_sources":"","_ibtdi_aa_update_notes":"","footnotes":""},"categories":[491],"tags":[5683,4501,24038,793,2166,24037,23322,24039],"class_list":["post-24513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-491","tag-5683","tag-4501","tag-24038","tag-793","tag-2166","tag-24037","tag-23322","tag-24039"],"_links":{"self":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts\/24513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/comments?post=24513"}],"version-history":[{"count":0,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts\/24513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/media\/24514"}],"wp:attachment":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/media?parent=24513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/categories?post=24513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/tags?post=24513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}