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Marketing plays a crucial role in pricing as it helps in creating awareness about the product or service. It targets the right audience who can afford the product or service. Marketing also helps in establishing business relationships with clients, which begins with a sale. It's not just about selling, but about building long-term relationships with customers.
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Understand your ideal client and their spending power, Dill, writes. A costly product or service can be totally affordable as long as it's marketed to the right audience. Payment plans that allow paying in installments is also a good idea. "Pricing is largely a marketing issue, not a sales issue. Marketing creates awareness. Sales brings clients from awareness into a business relationship. A sale isn't the end of a conversation. It's the beginning of a relationship," she says.
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Take the most advantageous pricing approach to increase profitability of your organization. Use our Pricing Strategies presentation to outline factors...
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