video | June 23, 2016
Product Strategy: Improving Product Profitability and Pricing
To hit your revenue growth objectives, your products must be priced correctly. If they’re not, products will not be profitable and your company will no longer be able to innovate. In order to do this, you must have a comprehensive understanding of product profitability and pricing strategies. We recently spoke with Lauri Hanover, the CFO at Netfim, about these topics. Watch here as she discusses product strategy, specifically how to increase your profitability and determine your overall pricing strategy.
Lauri will begin the show by discussing the key inputs into a well-defined pricing strategy. She will explain how to calculate the cost to build, market, sell, install, and support your product. Next, she will walk our audience through determining what your buyers will pay for the product, and the value it brings to your customer. She’ll explain the concept of a good, better and best product pricing strategy. And she’ll explain why it’s important to understand competitor pricing in order to determine your product positioning.
We will wrap up the show with an action plan for our audience. What are 3 actions they can take to make the most impact? Watch here to understand how to immediately improve product pricing and profitability. Lauri’s insights will enable you to partner with your CFO and calculate the true costs of your products.