1 / 4

Strategic Pricing Guidelines for Competitive Market Advantage

Learn how to determine the selling price of your product using a strategic pricing approach. Understand the cost to make, competitive products, customer value, reimbursement factors, and more. Find insights on setting an appropriate gross margin and leveraging market data to optimize pricing strategies.

joylyn
Download Presentation

Strategic Pricing Guidelines for Competitive Market Advantage

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Product pricing Cost to make SIGMAPRO BUSINESS TOOLS Whatis the sellingprice of yourproduct ? Parameters to consider Value for customer Competitive products Price Reimbursement For a medicaldevice or therapyproduct

  2. Severalapproaches 1. Price vs values for the customer 2. Price of the competitiveproducts 3. Cost to make + margin 4. Reimbursement of similar class of products (for medicaldevices) 5. Othermarket data 6. Is the Gross marginappropriate ? Gross margin = (price - cost to make) /price The Gross margin should not be lower than the industry average in which you are competing

  3. Pricing Identifyyourcompetitors or products close to yours. Analyse and rate the products on features/values and pains for the customers. Compare the prices per product. This should help you to define the price of yourproduct. • The price-value of competitiveproducts

  4. Reimbursement Medical devices and reimbursement • Pricing Reimbursementis a key factor for sales growth and market adoption Reimbursement must beobtained country by country Usuallyobtainedseveralyearsaftermedicaldevice or drugapproval Plan in advance for successfulreimbursement http://clinicaldevice.typepad.com/cdg_whitepapers/2011/05/reimbursement-strategies.html http://theatticusgroup.net/understanding-reimbursement-medical-devices-coding-coverage-payment-payors/

More Related