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Pricing Optimization

How to find the optimal price for your product or service

$195 $185
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$195 $185
  • 3+ hours of video
  • Excel templates
  • Lifetime Access
  • Certificate
  • Device Friendly
  • 30-Day Guarantee
  • Mystery Bonus

Pricing is the fastest way to increase profit.

But how do you find the optimal price for your product or service?

Maybe you’re unsure what to do. So you reflect on your costs and competitors, eventually choosing a price that “feels right.”

Sure, this decision might work. Or…it might be costing you money.

In this course, you’ll learn a better approach. Pricing can be complex, but this course will teach you clever methods that anybody can do.

Use this course for:

  • Profit Growth—Find prices that maximize profit
  • Design Tweaks—Make them more appealing
  • Agency Services—Offer these methods to clients

Contents

Introduction

  1. Overview of Pricing Methods — 2:01
    • A brief description of each method in this course.

Part 1: Pricing Method — Psychology

  1. Software Pricing — 7:50 — Preview
    • Annual pricing vs monthly pricing. Common mistakes in displaying the price. Which colors to use.
  2. eCommerce Pricing — 5:09
    • Best location of the price and button. How to push attention toward the CTA. Best way to frame discounts.

Part 2: Pricing Method — Surveys

  1. Determine Your Customer Segments — 1:36
    • How segmentation influences pricing
  2. Select the Survey Tool — 2:19
    • Two factors for choosing a survey platform
  3. Recruit People in Each Segment — 3:05
    • How to identify and isolate groups of people
  4. Ask People to Evaluate Your Product — 1:24
    • How to portray a realistic purchase scenario
  5. Analyze Their Willingness to Pay — 0:46
    • A placeholder for each pricing method
  6. Compare Responses Across Segments — 0:54
    • How to spot people with different needs (and thus, a different willingness to pay)
  7. Example: Home Goods — 3:39
    • A summary of all of the steps with a cutting board

Part 3: Pricing Method — Van Westendorp

  1. Overview of Van Westendorp — 1:07
    • What is it? How does it work?
  2. Collect the Data — 2:30
    • How to run a survey to get the necessary data
  3. Convert the Data Into a Frequency Table— 4:11
    • A brief tutorial in excel
  4. Convert Table Into Percentages— 4:09
    • A brief tutorial in Excel (continued)
  5. Analyze the Van Westendorp — 3:47
    • How to find the optimal price
  6. Excel Spreadsheet — Van Westendorp
    • Sample data that can help you run this analysis

Part 4: Pricing Method — Gabor-Granger

  1. Overview of Gabor-Granger — 0:54
    • What is it? How does it work?
  2. Set Up the Gabor-Granger — 2:06
    • How to run a survey to get the necessary data
  3. Prepare the Data — 2:22
    • A brief tutorial in excel
  4. Analyze the Gabor-Granger — 3:46
    • How to find the optimal price
  5. Excel Spreadsheet — Gabor-Granger
    • Sample data that can help you run this analysis

Part 5: Pricing Method — Conjoint Analysis

  1. Overview of Conjoint Analysis — 1:58
    • What is it? How does it work?
  2. Which Software to Use? — 1:17
    • You can do it yourself in R or use “easier” software. Alternatively, this course will teach a method in Excel.
  3. Set Up the Conjoint Study — 5:53
    • How to set up a conjoint study using software
  4. Analyze the Conjoint Data — 5:38
    • How to simulate the impact of different prices on market share
  5. Bonus Method – Conjoint Analysis in Excel — 4:52
    • I explain a simple way to perform conjoint analysis in Excel without advanced software or knowledge
  6. Excel Spreadsheet — Conjoint Analysis
    • Sample data that can help you run this analysis

Part 5: Pricing Method — Split Testing

  1. Overview of Split Testing — 1:38
    • Distinction between split testing vs. price discrimination
  2. Which Prices Should You Test? — 1:58
    • Four categories of prices that you can test

Part 6: Pricing Method — Demand Curves

  1. Overview of Demand Curves — 2:54
    • What is it? How does it work?
  2. How to Analyze a Demand Curve — 4:11
    • How to analyze past sales data to calculate the optimal price

Bonus

  1. Pricing Method: Reaction Time — 1:58
  2. How We Perceive Numbers — 20:58
  3. House Money Effect — 3:02
  4. How to Reduce the Pain of Paying— 6:20
  5. What’s the Best Visual Size for Your Price? — 4:52
  6. Where Should You Position Your Price? — 5:12
  7. Should Your Price Be Rounded or Precise? — 7:41
  8. What are the Best Nearby Stimuli? — 7:42
  9. Which Numbers Should You Choose? — 8:13
  10. How to Design Your Pricing Package — 7:57
  11. How to Structure the Payment — 4:42
  12. Which Products Should You Discount? — 7:41
  13. Which Type of Promotion Should You Offer? — 4:05
  14. How Large Should Your Discount Be? — 7:41
  15. How to Frame and Display Your Discount? — 7:41

FAQs

Do you bundle your courses?

Buying multiple courses? Get this lifetime bundle with all of my current and future courses.

Is this new material?

Yes. Some videos in the bonus section will summarize the principles from my pricing guide, but the majority of information is new.

Do I need any prior knowledge or skills?

Nope. Some advanced methods (e.g., conjoint analysis) require software or knowledge, but I describe alternative variations that can be performed by anybody.

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