Pricing: Do’s and Don’ts for Product Marketing

Pricing has the power to make or break your product — set the bar too high, and you’ll price your customers out of the market. Set your price point too low, and risk undermining the quality and value of your product.

Pricing: Do’s and Don’ts for PMM

Warren Buffet sums it up well. Pricing is the decision power.

The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.
- Warren Buffett, Chairman and CEO at Berkshire Hathaway

3 important biases that I have come across are:

• Power of now: The longer wait for a product is not ideal.
• Social proof: Recommendations and reviews from others
• Scarcity bias: As availability of a product decreases, it’s more desirable.

source: www.thinkwithgoogle.com/consumer-insights/consumer-journey/navigating-purchase-behavior-and-decision-making/

Each pricing model can be flexed to make it work for you and your team. Find the right value…