When the President Asks You To Set The Price of New Software - Page 2
7. Analyse and identify the Perceived and Psychological prices
8. Bargaining power of your consumers and other stake holders
9. Identify the barriers in selling and their influence on price
10. Talk to your sales and marketing teams and gather more information around pricing
Based on the above factors,
1. Set the Price Objectives and discuss with your President/key stake holders
2. Arrive at a Long term and Short term Pricing Strategy after consulting with key stake holders
3. Prepare a price book and identify your 'Base Price' based on your strategy, that you can help you to reach your objectives.
4. Identify various channels that help you to sell, distribute your product
5. Identify the different discount ranges for each channel that motivates them to sell
6. Identify the 'Book Price' for the different products
7. Perform a test marketing and identify the issues around the selling
8. Improve your Base price.
9. Maintain a pricing intelligence system to meet your long term pricing strategy