Pricing Strategy Assessment

Pricing is an important part of the Marketing Mix because it is often coordinated with promotions while also being reflective of the brand positioning.

You can use this tool multiple times – for new products, product lines, services, or the business as a whole. Your business might use short-term, long-term, or a combination of pricing strategies so you might also consider taking this assessment from different viewpoints depending on your objectives and business or product lifecycle.

Before taking this assessment, ensure you are familiar with your business’s marketing and overall objectives because consistency across the business and the brand is critical to success.

This assessment will take approximately 5 minutes after which you will immediately receive your results. You may complete the assessment on any device.

Before getting started, please provide us with your details:

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*required

Business Type

Please answer each of the following three questions:

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1) Do you sell products, services, or both?

2) Are you best described as a retailer, distributor, manufacturer, wholesaler or services provider?

3) Who do you sell to?


Pricing Objectives

Please select which statement best describes what you want to achieve through your pricing strategy for your business or a particular product or service:

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Market Price Sensitivity

Please select the statement that best describes how your target market reacts to pricing:

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Competitor Pricing

Please complete the following statement: Compared to my major competitors, my pricing is:

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Pricing Drivers

Please select the statement that best describes your situation in relation to the basis on which you need to determine your pricing strategy:

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Pricing Strategies

Business can have more than one pricing strategy. To determine yours, please select one or more of the most suitable statements below:

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Results

You’re all done! Thanks for taking our online assessment. Below is your pricing strategy statement which you can copy and paste into your Marketing Strategy under Pricing. We recommend researching your market and competitors thoroughly to ensure your strategy is the right one. We also recommend you compare your pricing strategy with your brand to ensure it is consistent. If you haven’t already, you can take our Product assessment tool which will help you with your brand.

If you want any assistance with your marketing plan or execution, please select the option below your statement. Alternatively, or in addition to, please subscribe to receive updates on our free online marketing tools.

Pricing Statement

Does this statement accurately reflect your business and marketing objectives? Is it consistent? If not, you will need to revisit your overall strategy.

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