Sec$on

6.3: Pricing Strategy

Ques$on posed by NEM?
HOW DO WE TRANSITION FROM UTILIZING
THIRD-PARTY MARKETING AVENUES THAT
OFFER DISCOUNTED SERVICES TO
ATTRACTING MORE FULL-PAYING CLIENTS?

Sec$on 6.3. Pricing Strategy

The pricing strategy por$on of the marke$ng plan involves determining how you will
price your product or service; the price you charge has to be compe$$ve but s$ll
allow you to make a reasonable prot. The keyword here is "reasonable"; you can
charge any price you want to, but for every product or service there's a limit to how
much the consumer is willing to pay. Your pricing strategy needs to take this
consumer threshold into account.

Basically you set your pricing through a process of

calcula$ng your costs [company]

es$ma$ng the benets to consumers, and

comparing your products, services, and prices to others that are similar
[compe$tors]

In conclusion, is your suggested pricing for NEM compe$$ve? That is, if the price you
plan to charge is lower, why are you able to do this? If it's higher, why would your
customer be willing to pay more? This is where the "strategy" part of the pricing
strategy comes into play; will your business be more compe$$ve if you charge more,
less, or the same as your compe$tors and why?

h^p://www.newhampshireclimbing.com/

h^p://www.mooneymountainguides.com/trips/rock-climbing.html

Bundling NEMs products/services

with the bunkhouse

Shapleigh Bunk House in Crawford Notch

h^p://sec$onhiker.com/shapleigh-bunk-house-in-
crawford-notch/