Pricing your products by Dr. Adel AlWugayan
How you price your product can make or break it. And it’s not just the price that matters, but the process you use to decide on a price.
Published on: Mar 4, 2016
Transcripts - Pricing your products by Dr. Adel AlWugayan
Dr. Adel A Al-Wugayan, BBA MBA Ph.D
Monday September 8th, 2014
Pricing Your Products
To Kuwaiti entrepreneurs:
Directly influencing bottom line
Make or break sale
Flexibility vs. other Mix Variables
Impression in credence attributes
Push vs. Pull strategy; Marketing Skimming or
What Makes Pricing
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Price includes what customer pays you and what he
should incur to make the product ready for
To buyers, this is mental relationship:
Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014
Price Quality and Value..
Setting the price, watch for
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Business or end
price or quality?
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Buyers take into
• 4 Buyers
• price point
• 4 Seller:
• 4 Buyer:
H LRef H Ref L
As SME Entrepreneur, you
need to.. Know your market. Apply STP process.
Undertake Competitive Market Analysis
Is your market mature or growing? PLC
Major competitors Size, coverage, and USP
Potential Scenarios for Competitor Reaction
Who closes sales?
Is their room for price negotiation?
Potential buyers Aspiration for your product:
Tech savvy groups – using Instagramers, Twitters
Re-buying? Is it possible?
After sale CRM.
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