Some effective pricing tools for evaluating cost, feature, and market share include cost-based pricing tools, value-based pricing tools, and competitive pricing tools. Cost-based pricing tools help businesses determine the cost of production and set a price that covers the cost and ensures profit. Value-based pricing tools evaluate the features and benefits of a product and set a price based on the perceived value. Competitive pricing tools analyze the market share and prices of competitors to set a competitive price.
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Need to evaluate the best pricing strategy for a product? This Pricing Strategy spreadsheet includes the top pricing tools to evaluate cost, feature,...
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To begin, first enter the name of the cell phone under the Price Analysis section of the Field tab, along with an initial price point to analyze. Then enter the total fixed cost for the business, which is the total amount of money a business must pay to keep their operations running regardless of how many products they make or sell.
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