How to Price Your Brand - Understanding Marketing Strategy

How does one go about pricing their products or services? What are the key things that need to be kept in mind while deciding upon pricing?

Two of the most basic things that would need to be kept in mind while pricing a product or service would be:

• How much are the consumers willing to pay for the product or service?

• How much does the product or service cost you?

What are the other things that need to be kept in mind? Let’s find out from our expert Siddharth now.

In this video, Siddharth answered two key questions:

You also learnt about defining the competitive sphere in order to estimate the true value of  your product or service in the minds of your consumers. Now, once you have decided on the pricing of your product, what is the next thing to look at? Making the product available to the customers! You will hear more about this in the next segment.