Pricing modelframework
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There is an optimal price point that balances solid margins with solid volume, which is neither too high to lose volume nor too low to lose margins. A hybrid pricing model is proposed that considers both internal factors like costs and external factors like competition. The framework involves gathering information, analyzing factors like historical trends, demand, costs, competition and customers, and adjusting prices based on the analysis. The model is intended to help set prices for products, services, and intangibles.
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In life, there are universal laws that govern everything we do. These laws are so perfect that if you were to align yourself with them, you could have so much prosperity that it would be coming out of your ears. This is because God created the universe in the image and likeness of him. It is failure to follow the universal laws that causes one to fail. The laws that were created consisted of the following: ·
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Law of Love: the Law of Love states that love is more than emotion or feeling; it is energy. It has substance and can be felt. Love is also considered acceptance of oneself or others. This means that no matter what you do in life if you do not approach or leave the situation out of love, it won't work.
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Pricing modelframework
- 1. A Simple Framework for a Pricing Model George Sloane MBA, MS
- 2. What is the Right Price? • Too High – Make Margin, Lose Volume = Not Optimum • Too Low – Lose Margin, Excess Volume = Not Optimum • Just Right – Solid Margin, Solid Volume = Optimum (Optimum is Profit and Market Share Gain Balance)
- 3. Pricing Approaches • • • • • Accounting– Cost Plus Marketing– Premium Competitive Matching Economic Supply and Demand Something Else?
- 4. Solution: A Hybrid Model • Hybrid (Multi-Factor) – Internal Factors • Accounting/Finance Dept. • Marketing Dept. • Management – External Factors • Customers • Competition • Micro/Macro Economics
- 5. Pricing Model (A Simple Framework) Historical Time Series Analysis • Seasonal Supply/Demand Trends • Actual v. Projected Results • Statistical Pricing Analysis Advance Orders Analysis Economic Analysis • Actual Advance Orders • Macroeconomic • Forecasted Orders • Microeconomic • Odd Event (Internal/External) • Industry Trends Cost/Expense & B-E Analysis • Fixed Costs Other Variables Pricing Strategy • Variable Costs • Known • Ad Hoc • Break-Even Point Management Estimates Competitive Analysis Customer Analysis/ Ranking • Senior Management • Capacity (Current and Planned) • Segment A • Operating Managers • Pricing • Segment B • Dept. Managers • Substitutes • Other Segment
- 6. How to Do It? • • • • • • • Identify the Team Gather Information Organize Information Perform Analysis Make a Decision Test and Adjust Repeat Process
- 8. For More Information: • Need Help? Contact George Sloane: – – – – – Email: gsloane.business@gmail.com Website: AnalyticsDesignGuy.com Twitter: @TheRealGSloane Linked In: http://www.linkedin.com/pub/george-sloane/49/720/94a Google+: https://plus.google.com/106321626989410967132#1063216269894109 67132/posts – Facebook: https://www.facebook.com/george.sloane.56
- 9. Thank You. A Simple Framework for a Pricing Model Copyright George Sloane All Rights Reserved
- 10. Thank You. A Simple Framework for a Pricing Model Copyright George Sloane All Rights Reserved