Discover How Your Pricing Strategy for New Products or Services Can Drive Profitability

Developing a new product or service takes a significant amount of time and effort, and we believe that pricing your new offering should be considered with commensurate thought and care (but companies often don’t take the time to do so). The pricing of services and products is important because it is a key driver of the offering’s profitability and overall success – price too high and no customers buy, making it impossible to recoup your development costs; price too low and you can quickly erode profitability not only for your new product or service but across your portfolio – and, in the worst case, initiate price wars.

profit solutions and planning

In order to determine the appropriate pricing of services or products, you must understand the unique value your offering provides in the context of what is currently available in the market. INSIGHT2PROFIT works with clients to do this in a number of ways.

We take a data-driven approach to understanding your offering’s value proposition and how it is positioned in the market relative to competitive offerings. We use analytical methods, such as conjoint analysis, to quantify the value customers assign to each of your offering’s features and attributes, and to price it accordingly.

Based on our understanding of market dynamics, we assess and anticipate how competitors will respond to your new offering and factor those considerations into our planning and pricing strategies.

We put tools and techniques in place to measure how the new offering is performing in real time, allowing you to be agile and quick in your response to changes in the market that may necessitate pricing or product positioning adjustments.

Key to Success and Profitability

Ultimately, pricing your new product or service offering appropriately is key to its success and your profitability. 

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