There is no such thing as “reality” when it comes to pricing. Buyer perception is everything. What buyers perceive your performance is compared to the competition will dictate whether you can win, and at what price premium. Your ability to grow your revenues will depend on your ability to influence these perceptions.
- List of Competitors
- Price Positioning statement
- List of attributes for purchase decisions
- Competitive differentiation maps
- Identification of competitive advantages, competitive disadvantages, overinvestment areas, and potential disadvantages
- Positive differentiation value
- Product & Marketing re-positioning actions
With this phase completed, it is time to move on to Phase 6: Revenue Model.