What Concepts Should You Think About for Your Pricing Strategy?
What Concepts Should You Think About for Your Pricing Strategy? Pricing Startegy The Three Pillars of Pricing Strategy: Narrative, Positioning, and Profit Engine Pricing strategy can make or break your business. It’s more than setting a number—it’s about weaving together three critical elements that determine your market success. The Three-Pillar Framework When these three elements work in harmony, they create pricing strategies that are both defensible and scalable—here’s how they interconnect: Every successful pricing strategy rests on three foundational pillars: Narrative : The story your price tells about your value Positioning : Where you stand in the competitive landscape Profit Engine : How your pricing model drives sustainable growth Think of these as the legs of a stool—remove one, and your entire strategy becomes unstable. Building Your Narrative: Value Communication Your price tells a story before you say a word. A $5 coffee suggests artisanal quality; a $1 coffee implies ba...