From the course: Create Your Brand Message Strategy

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Pricing strategies for your customer

Pricing strategies for your customer

From the course: Create Your Brand Message Strategy

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Pricing strategies for your customer

- What's the impression you get of a restaurant that doesn't even have prices on the menu? Have you ever chosen to not buy something because it was so inexpensive you assumed it was poor quality? Pricing creates perception. The key to an effective pricing strategy is positioning your business with how your ideal customers see themselves in the world. Whenever a business has customers frequently asking for discounts, or has too high a rate of cancellation or buyer's remorse, it is because the customer couldn't tell what to expect upfront with regards to price. The market position of the business was not clear. This problem is solved by making sure your business creates an accurate price point impression through brand message and image. For example, let's say you're walking down a street and peer in the windows of a restaurant. The tables have white linen tablecloths and the staff is impeccably dressed. You walk a little…

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