I recently received the student feedback from BUS213: Monetizing Marketing Models, the course I taught for Stanford Continuing Studies during the Winter 2011 quarter. Overall, the course was well received. But the number one area where students would have liked to go deeper was in how to set pricing.
So for those of my former students who may be reading this blog, I've decided to do a series of in-depth posts that I hope will be helpful in this area. The first few posts will deal with an overview and frameworks. The last with tactics and practical tips.
Pricing Overview
As anyone who has studied Marketing 101 knows, Price is one of the classic "4Ps" of the marketing mix (the others being Product, Promotion, and Place). In setting prices, three major elements need to be considered:
1. Pricing Strategy
2. Business Revenue Model
3. Pricing Mechanisms
To read the full, original article click on this link: Thrice Around the Block: How to Set Prices: Pricing Strategy
