What is involved in pricing a product? The basics of product economics  In this podcast, we discuss the importance of product economics and pricing strategies in marketing. They explained that pricing involves a comprehensive analysis of costs, including variable costs and break-even points, as well as market research to determine customer willingness to pay. The conversation highlighted pricing strategies such as cost-plus pricing, value-based pricing, psychological pricing, dynamic pricing, competitive pricing, and the freemium model. Susan defined product economics as the financial health of a product or service, including customer lifetime value and customer acquisition costs. The conversation emphasised the significance of these concepts for business decision-making and achieving profitability.

Visit ⁠@more2marketing⁠

Don't forget to follow to be the first to hear the next podcast and follow.

Please note: This is a conversation style podcast - raw and authentic. If you have any questions or who like to be on guest on More 2 Marketing, please⁠ contact us⁠.