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019 Personal Market Plan Example Trainer Marketing Luxury Business Plans Magnificent Training

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Pricing _ I once said in my Marketing Plan Breakthrough S6PEC that, "Price is the key determinants of your profits". I stand firm to keep it that way. In your marketing plan, you will address pricing plan for your distributors, customers, multiple segments (some business charge differently _ price discrimination) and cost price i.e. your raw materials and things like that. Not many address price correctly and bear in my mind that we need to standby few pricing plan to respond to the market. Take for example during festive season, if everyone is lowering price and slashed their price or even ignited a price war, what do you do about that? Follow suit or wait? If you want to follow, how far? If you want to wait, how long? You capture all this in pricing plan.

You will need to develop your pricing strategies for all of your products and services. Do you want to be higher or lower versus competitors? Do you plan to include labor/overhead/materials in costs? Be sure to list your pricing strategy for each product or service. A comprehensive marketing strategy will ensure your success because it will tell you how to obtain and keep customers, how to compete in your marketplace, and what resources you will use to achieve your goals and objectives.

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