Pricing strategies for SMEs: A simple four-step model
Tools & Resources
Key learnings
- Understand your costs before setting prices – Knowing both fixed and variable costs is essential to avoid pricing too low (and losing money) or too high (and losing customers).
- Align pricing strategy with your business goals – Whether you're aiming for profit, market share, or brand positioning, your pricing needs to reflect that objective.
- Use multiple pricing approaches to stay competitive – A blend of cost-plus, value-based, and psychological pricing can help you meet different customer needs and market conditions.
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