Choices are an integral part of effective pricing strategies. They help the customer understand the link between price and value, and even facilitate decision-making. But poorly constructed product versions — often the “good, better, best” systems designed in the absence of a concrete rationale — can be as much a hindrance as a help. If you version on the wrong dimensions, set the wrong levels or otherwise provide the wrong options, customers won’t buy what you were expecting and your average price level will drop.
- Competitor versioning approaches
- Versioning system options
- Evaluation criteria
- Versioning system scoring
- Conjoint analysis
- Version design
With this phase completed, it is time to move on to Phase 8: Price Metrics and Fences.