• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Submissions
  • About Us
  • Contact Us
  • Jul 5, 2022
  • Startup
    • Creating a Plan
    • Funding a Startup
    • Franchise Center
    • Getting Your Office Ready
    • Making Your Business Official
    • Marketing Your New Business
    • Personal Readiness
  • Run & Grow
    • Customer Service
    • Human Resources
    • Innovation
    • Legal
    • Operations
    • Risk Management
  • Leadership
    • Best Practices
    • Communication
    • Green Initiatives
    • Open Culture
    • Strategic Planning
    • People Skills
  • Sales & Marketing
    • Advertising and Lead Generation
    • Marketing Innovations
    • Marketing Plans
    • Online Marketing
    • Relationships
    • Sales Activities
  • Finance
    • Budgeting and Personal Finance
    • Payments and Collections
    • Tax and Accounting
    • Pricing Strategy
    • Working with Investors
    • Working with Lenders
  • Tech
    • eCommerce
    • Hardware
    • Software
    • Security
    • Tech Reviews
    • Telecom
  • Shop

SmallBizClub

Helping You Succeed

Home / Finance / Pricing Strategy / 10 Steps to a Successful Pricing Strategy
10 Steps to a Successful Pricing Strategy

10 Steps to a Successful Pricing Strategy

1569 Views

Mar 15, 2016 By SmallBizClub

During the price strategy planning processes, companies assess past strategies, analyze how well each did, and plan prices for the upcoming year, eagerly anticipating a significant impact on the bottom line. After all, a 1% increase in price can result in an 11% increase in profit. However, many things can go wrong: customers can reject the pricing and take their business elsewhere, discounts can get out of control, or the sales team could be uncomfortable with selling at a higher price.

To avoid these common roadblocks and other mistakes, my team and I have put together a list of 10 steps to building a profitable pricing strategy.

Pricing-Strategy-Infographic-768x1855

Author: Dev Tandon is Founder and CEO of The Kini Group, a cloud-based SaaS Business Intelligence (BI) company that provides customers with analytical capabilities to identify sustainable gross margin improvement opportunities. Companies of all sizes use the cloud-based software, KiniMetrix, for advanced business analytics and reporting to identify critical issues and opportunities related to sales performance, price/volume/mix, customer churn, price realization, and any other metric area they deem important to their business objectives. Dev also held positions at McKinsey, Microsoft Corporation, Trilogy Software, and General Electric Aircraft Engines, across a variety of capacities and holds a BA degree in Computer Science from Princeton University.

Filed Under: Pricing Strategy Tagged With: Planning, Pricing Strategy, Value

Source: The Kini Group

SmallBizClub

SmallBizClub

SmallBizClub.com is dedicated to providing small businesses and entrepreneurs the information and resources they need to start, run, and grow their businesses. The publication was founded by successful entrepreneur and NFL Hall of Fame QB Fran Tarkenton. We bring you the most insightful thinking from industry leaders, veteran business owners, and fellow entrepreneurs. That means guides to the complex worlds of financing and technology. It means business owners sharing their personal stories—both successes and failures— through articles, video, and most important, answers to your small business questions. Follow us on Facebook, Twitter, and LinkedIn

Related Posts

  • How to Pack More Value Into your Product or Service
  • 6 Ways To Increase The Value Of Your Startup Business
  • 6 Useful Phone Apps to Organize Your Life

Primary Sidebar

bottom line ad

Random

11 Employee Benefits Millennials and Gen Z Value Most

Jul 4, 2022 By SmallBizClub

freelancers-are-the-new-entrepreneurs-for-services

5 Benefits to Using Freelancers for Your Small Business

Jul 1, 2022 By Lending Tree

6 Evergreen Content Ideas to Inspire Your Editorial Calendar

Jun 30, 2022 By Eleanor Hecks

Custom Pop-Up Tents for Events: Pros & Cons

Jun 29, 2022 By SmallBizClub

Want To Deliver Better Customer Service? Follow These Tips

Jun 29, 2022 By Jeremy Bowler

Footer

About Us

Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Copyright © 2022 by Tarkenton Institute, Inc. All Rights Reserved | Terms | Privacy