There are certainly lot of buzz terms associated with pricing.
There's cost-based pricing, values-based pricing, competition-based pricing. But which ensures profitability while also serving the customer in the best way possible?
And how can entrepreneurs get to a place of confidence in the prices they're asking customers to pay?
One of the field's most prominent experts visited American Underground
in June to provide some best practices and lessons in pricing. Sri Venkatamaran
is a marketing professor
at UNC's Kenan-Flagler Business School who consults with big name brands like GE, Sony, Coca-Cola, Nielsen and Disney. He's earned patents for his research and models.
He speaks frequently about how to maximize ROI through marketing activities, and also works with startups trying to make sense of analytics. Watch this video for some practical ways to begin implementing some of his best tips for pricing your product.