At the third stage, having gathered the necessary information and analyzed it, you can start developing your own pricing strategy, which will become part of the overall development strategy of the company.
As a rule, the development and implementation of the company's pricing strategy are handled by a structural division responsible for pricing issues.
Most often, the activities of such a division are supervised by a top manager of the company, who is responsible for marketing or sales of products, in close interaction with the planning and economic department, if there is one.It is advisable to develop a pricing strategy in a project team of specialists responsible for:
· Evaluating and planning the cost of production under different pricing policies and the corresponding production and sales policies,
· Justifying financial indicators, which the pricing policy should be aimed at achieving,
· Developing financial aspects of implementing such a policy (for example, determining the limits of financing advertising activities),
· Collecting information about the current market situation, determining the real structure and segmentation of the market,
· Forecasting sales volumes, possible at different price levels for the product.
· Evaluation of possible actions of competitors under various pricing policies,
· Justification of opportunities for increasing sales and improving financial indicators without changing prices,
· Conducting advertising campaigns, forming a brand image, and disseminating information that influences competitors' commercial decisions.
If the company is small, the team may consist of only 2-3 people, but they must possess the necessary skills and knowledge, fully understand the goals of such work, and follow the sequence of actions.
It should be understood that the pricing strategy is not something adopted once and for all. It can change depending on market trends and internal changes in the company itself. When deciding which strategy to make key for a particular time period, keep in mind which pricing strategies
are most often used by modern companies.The most common strategies are based on:
‣ perceived value
As a rule, strategies are combined, using the most optimal for different brands and product categories. Also, different strategies can be applied to different markets. On an old market, where the company has existed for many years, this can be a strategy based on perceived value, while on a new market for it, it can apply a competitive or predatory strategy