How to charge a premium price?

Posted by Philip Huthwaite on June 15, 2015
Pricing is a key factor in the marketing of any product, and getting it wrong can have a serious impact on sales. We have previously looked at how to price your product or service in a more general sense. Now it is time to look at how to charge a premium price.
 
 

 

A premium pricing strategy, also refered to as prestige pricing, involves setting the price of a product higher than similar products. This strategy is sometimes also called skim pricing because it is an attempt to “skim the cream” off the top of the market. It can be a brave strategy to follow, and should only be adopted if the value can be articulated to your customers in at least one of the following ways:

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Topics: Prestige Pricing, Premium Pricing

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