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
 ...
Price includes what customer pays you and what he
should incur to make the product ready for
consumption.
To buyers, this ...
Setting the price, watch for
.….
Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 4
Unit Cost:
pro...
Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 5
Buyers take into
consideration …
Price
Range
• ...
As SME Entrepreneur, you
need to.. Know your market. Apply STP process.
 (elasticity)
 Undertake Competitive Market Ana...
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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
Published in: Business      
Source: www.slideshare.net


Transcripts - Pricing your products by Dr. Adel AlWugayan

  • 1. Dr. Adel A Al-Wugayan, BBA MBA Ph.D Monday September 8th, 2014 Pricing Your Products
  • 2. 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 Penetration Strategy What Makes Pricing Important? Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 2
  • 3. Price includes what customer pays you and what he should incur to make the product ready for consumption. To buyers, this is mental relationship: Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 Price Quality and Value.. Quality Price Value = 3
  • 4. Setting the price, watch for .…. Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 4 Unit Cost: proportion of variable and fixed cost. Customer type: Business or end user? price or quality? Does Product Image matters? Competition competitive advantage
  • 5. Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 5 Buyers take into consideration … Price Range • Absolute Lowest Point • Absolute Highest Point Reference Price • 4 Buyers Yardstick • price point or vector Reservation Price • 4 Seller: Beyond Low • 4 Buyer: beyond high H LRef H Ref L
  • 6. As SME Entrepreneur, you need to.. Know your market. Apply STP process.  (elasticity)  Undertake Competitive Market Analysis  Is your market mature or growing? PLC  Major competitors Size, coverage, and USP  Potential Scenarios for Competitor Reaction  Sales force  Who closes sales?  Is their room for price negotiation?  Potential buyers Aspiration for your product:  Tech savvy groups – using Instagramers, Twitters  B2B ma  Re-buying? Is it possible?  After sale CRM. Pricing for Kuwaiti Entrepreneurs – Dr. Adel Al-Wugayan - Sept 8th, 2014 6

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