Get Tability: OKRs that don't suck | Learn more →

6 strategies and tactics for Pricing

What is Pricing strategy?

Every great achievement starts with a well-thought-out plan. It can be the launch of a new product, expanding into new markets, or just trying to increase efficiency. You'll need a delicate combination of strategies and tactics to ensure that the journey is smooth and effective.

Crafting the perfect Pricing strategy can feel overwhelming, particularly when you're juggling daily responsibilities. That's why we've put together a collection of examples to spark your inspiration.

Transfer these examples to your app of choice, or opt for Tability to help keep you on track.

How to write your own Pricing strategy with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own strategies.

Pricing strategy examples

We've added many examples of Pricing tactics, including a series of action items. We hope that this will make these examples as practical and useful as possible.

Strategies and tactics for revamping fuel franchise network strategy

  • ⛳️ Strategy 1: Optimise pricing and rebates

    • Conduct a comprehensive pricing analysis to identify optimal fuel pricing strategies
    • Implement tiered rebate structures based on performance metrics to incentivise high-performing franchisees
    • Negotiate revised rebate terms with franchise partners to align expectations with profitability targets
    • Develop tailored pricing models for B2B customers to secure long-term contracts while maintaining margins
    • Utilise data analytics to dynamically adjust pricing in response to market conditions
    • Set thresholds for minimum sales volume to qualify for rebates, encouraging sales growth
    • Regularly review and adjust rebate schemes to ensure they align with current market demands
    • Educate franchisees on market-driven pricing strategies and their impact on profitability
    • Introduce loyalty programs for end customers to increase fuel sales volume
    • Monitor competitors' pricing strategies regularly to maintain a competitive edge

  • ⛳️ Strategy 2: Enhance operational efficiency

    • Conduct operational audits at all franchise locations to identify inefficiencies
    • Implement standardised operating procedures to ensure consistent service delivery
    • Boost fuel efficiency and reduce wastage through staff training and technology
    • Invest in technology to automate routine processes and reduce operational costs
    • Encourage franchisees to adopt flexible work arrangements to optimise staffing
    • Set up a centralised system for inventory management to ensure optimal stock levels
    • Explore alternative energy offerings to reduce dependency on traditional fuels
    • Conduct quarterly meetings with franchisees to discuss operational improvements
    • Establish key performance indicators (KPIs) to track operational effectiveness
    • Facilitate knowledge sharing between high-performing franchises and those with room for improvement

  • ⛳️ Strategy 3: Diversify revenue streams

    • Explore partnerships to offer additional services such as car wash, convenience stores, or electric vehicle charging
    • Introduce cross-promotional deals with local businesses to attract more foot traffic
    • Encourage franchisees to diversify their offering with value-added services
    • Develop training programs for franchisees to enhance customer service and upselling skills
    • Use customer data to identify trends and develop new products or services
    • Offer customisable services to meet specific consumer preferences and increase customer base
    • Leverage digital marketing to promote additional services and reach wider audiences
    • Host community events or workshops at stations to enhance local engagement
    • Implement loyalty programs to encourage repeat business
    • Evaluate underutilised assets for potential new revenue opportunities
fuel-pricingoperational-efficiencyfranchise-managerpricing-analystmarketing-teamoperations-team
Implement these strategies

Strategies and tactics for increasing revenue by 30% per annum

  • ⛳️ Strategy 1: Optimise pricing strategies

    • Analyse competitor pricing
    • Conduct market research to understand customer perceptions
    • Run A/B tests on different price points
    • Introduce premium pricing for value-added services
    • Implement dynamic pricing based on demand
    • Evaluate and adjust discount strategies
    • Bundle products and services for higher value
    • Communicate price changes effectively to customers
    • Monitor the effect of pricing changes on sales
    • Review pricing strategy quarterly

  • ⛳️ Strategy 2: Expand market presence

    • Identify and enter new geographical markets
    • Develop partnerships with local distributors
    • Create targeted marketing campaigns for new regions
    • Participate in industry trade shows and events
    • Develop localisation strategies for products and services
    • Optimise website for international traffic
    • Engage with local influencers and media channels
    • Offer introductory deals to new customers
    • Conduct market research to understand new market needs
    • Monitor and adjust strategies based on performance metrics

  • ⛳️ Strategy 3: Increase customer retention

    • Implement a customer loyalty programme
    • Conduct regular customer satisfaction surveys
    • Set up a customer feedback loop
    • Offer personalised discounts and promotions
    • Enhance customer support services
    • Develop educational content to add value
    • Utilise CRM systems to track customer interactions
    • Analyse churn rates and identify root causes
    • Establish a proactive engagement plan for key accounts
    • Schedule regular follow-ups with customers
pricingmarket-presencepricing-analystcustomer-success-managersalesmarketing
Implement these strategies

Strategies and tactics for growing service revenue 3x in 5 years

  • ⛳️ Strategy 1: Expand customer base

    • Conduct market research to identify new target audiences
    • Develop and implement a targeted marketing campaign
    • Offer promotions and discounts for first-time customers
    • Create referral programmes to encourage existing customers to bring in new ones
    • Attend industry trade shows and networking events
    • Improve online presence through SEO and social media marketing
    • Collaborate with complementary businesses for cross-promotions
    • Solicit and act on customer feedback to improve services
    • Launch a loyalty programme to retain customers
    • Expand service offerings to appeal to a broader audience

  • ⛳️ Strategy 2: Enhance service quality

    • Invest in employee training and development
    • Implement a robust customer feedback system
    • Monitor and analyse service performance metrics
    • Incorporate technology to streamline processes
    • Offer customised service packages to meet diverse needs
    • Set up a quality control team to ensure consistent service delivery
    • Introduce a 24/7 customer support system
    • Create comprehensive service manuals and protocols
    • Regularly update and improve service offerings
    • Reward employees who deliver exceptional service

  • ⛳️ Strategy 3: Increase pricing strategically

    • Conduct a competitive analysis to understand market pricing
    • Introduce tiered pricing options to cater to different budgets
    • Communicate value propositions clearly to justify price increases
    • Offer premium services or add-ons for higher price points
    • Implement a gradual pricing increase plan
    • Use customer segmentation to tailor pricing strategies
    • Offer bundled services at a discounted rate
    • Monitor customer reactions and adjust pricing accordingly
    • Leverage testimonials and case studies to demonstrate value
    • Regularly review and adjust pricing based on market trends
customer-baseservice-qualitymarketing-specialistquality-control-managercustomer-supportpricing-analysis
Implement these strategies

Strategies and tactics for increasing awareness and sales for turkey-based meals

  • ⛳️ Strategy 1: Leverage targeted marketing campaigns

    • Develop video content highlighting the benefits of turkey as a healthy alternative to pork
    • Create tailored advertisements for busy professionals emphasizing quick meal preparation
    • Design social media posts targeting health-conscious consumers reducing red meat intake
    • Collaborate with influencers to reach religious consumers who avoid pork
    • Offer special promotions for new customers trying turkey-based meals
    • Utilize email marketing to showcase turkey's health benefits and quick preparation
    • Segment ads based on consumer budgets for affordable, mid-range, and premium meals
    • Engage with community events to demonstrate easy preparation of turkey meals
    • Develop culturally sensitive marketing campaigns for Muslim consumers
    • Use customer testimonials to build trust and highlight product features and convenience

  • ⛳️ Strategy 2: Enhance product visibility in stores and online

    • Secure prominent shelf space in grocery stores for turkey-based meals
    • Create eye-catching packaging highlighting the health benefits of turkey
    • Offer product sampling in high-traffic stores to encourage trial
    • List products on major online grocery platforms with detailed descriptions
    • Provide recipes and meal ideas on packaging and online to inspire customers
    • Collaborate with retailers to offer in-store promotions and discounts
    • Ensure product availability in stores frequented by target consumers
    • Optimize product listings with keywords for online visibility
    • Implement a customer reviews section on online platforms for feedback
    • Develop partnerships with health and wellness brands for co-promotion

  • ⛳️ Strategy 3: Expand distribution and collaboration channels

    • Identify and partner with meal kit delivery services to include turkey options
    • Collaborate with fitness centers to offer turkey meal samples to members
    • Secure partnerships with health-conscious restaurants for turkey-based menu items
    • Engage with workplace cafeterias to include turkey meals in their offerings
    • Explore collaboration opportunities with dietitians and nutritionists
    • Expand distribution to specialty stores focusing on organic and health foods
    • Target corporate offices for bulk orders of convenient meal options
    • Establish relationships with religious communities for halal turkey promotions
    • Leverage partnerships with cooking shows or recipe blogs showcasing turkey dishes
    • Create a referral program encouraging existing customers to share with friends
targeted-marketingproduct-visibilityinfluencerdietitianmarketing-teamdistribution-team
Implement these strategies

Strategies and tactics for capturing more market share by providing better customer experience and lowering prices

  • ⛳️ Strategy 1: Enhance customer experience

    • Conduct customer satisfaction surveys to understand current pain points
    • Implement a robust customer service training programme for all staff
    • Introduce a loyalty programme to reward repeat customers
    • Ensure a responsive customer support system with multiple channels (phone, email, chat)
    • Regularly collect feedback and make improvements based on customer suggestions
    • Streamline the checkout process to make it as quick and easy as possible
    • Utilise CRM software to personalise customer interactions
    • Organise regular webinars or Q&A sessions to educate customers about products
    • Ensure a user-friendly website with easy navigation and relevant information
    • Conduct regular audits of customer service processes to identify areas for improvement

  • ⛳️ Strategy 2: Implement competitive pricing strategies

    • Conduct market research to understand competitors' pricing strategies
    • Analyze cost structures to identify areas to reduce expenses
    • Introduce limited-time offers and discounts to attract new customers
    • Regularly review pricing strategies to ensure competitiveness
    • Develop a value-based pricing model to showcase the benefits of the product
    • Implement a price match guarantee to assure customers of the best price
    • Use dynamic pricing tools to adjust prices based on market demand
    • Bundle products or services to provide better value for money
    • Communicate the value of lower prices to existing and potential customers through various channels
    • Monitor the impact of price changes on sales and market share and adjust accordingly

  • ⛳️ Strategy 3: Boost brand loyalty and community

    • Create a brand ambassador programme to engage passionate customers
    • Encourage user-generated content and testimonials to build trust
    • Establish a community forum for customers to share experiences and tips
    • Hold regular events (online and offline) to build a community around the brand
    • Offer exclusive access to new products and beta programmes for loyal customers
    • Develop a referral programme to incentivise existing customers to bring in new ones
    • Enhance social media presence to interact with and engage customers
    • Collaborate with influencers and partners to extend brand reach
    • Create and share educational content related to the products
    • Monitor and engage with customer reviews and feedback on various platforms
customer-experiencepricing-strategiescustomer-service-representativemarket-researchercustomer-support-teammarketing-team
Implement these strategies

Strategies and tactics for developing a marketing strategy for scented candles

  • ⛳️ Strategy 1: Establish a strong sales plan

    • Set clear sales targets for each quarter
    • Identify the target customer segment for scented candles
    • Develop bundled offers or seasonal packages to increase average order value
    • Establish relationships with retail stores and online marketplaces
    • Train sales staff with knowledge about the different scents and benefits
    • Utilise customer feedback to refine sales pitch and product offerings
    • Incorporate a loyalty programme for repeat customers
    • Set up sales incentives for team members to achieve targets
    • Plan for seasonal demand spikes with appropriate inventory
    • Evaluate sales performance monthly to adjust tactics

  • ⛳️ Strategy 2: Use advertising and promotion to boost awareness

    • Implement targeted social media campaigns focusing on visual platforms like Instagram and Pinterest
    • Collaborate with influencers who focus on home décor and wellness
    • Offer promotional discounts during major holidays
    • Host workshops or events that focus on the experience of candle making
    • Send out press releases to lifestyle magazines and blogs
    • Create a referral programme to encourage word-of-mouth marketing
    • Utilise search engine marketing to capture organic traffic
    • Distribute samples in spa centres or wellness events
    • Utilise email marketing to nurture leads and announce promotions
    • Gather and showcase customer testimonials and reviews

  • ⛳️ Strategy 3: Determine selling outlets and pricing strategies

    • Sell through e-commerce platforms like Etsy, Amazon, and own website
    • Explore contracts with boutique stores and home décor shops
    • Determine the preferred market outlet based on customer data
    • Become a qualified supplier by meeting specific buyer requirements
    • Apply competitive pricing by analysing the market and adjusting accordingly
    • Calculate costs accurately to set a profitable yet attractive price point
    • Utilise options and forward pricing to mitigate risks of raw material costs
    • Consider production contracting with suppliers for stable terms
    • Explore marketing contracts to assure outlet partnerships
    • Opt for liability insurance to protect against any product defects
marketingstrategysales-managermarketing-coordinatorsales-teamadvertising-team
Implement these strategies

How to track your Pricing strategies and tactics

Having a plan is one thing, sticking to it is another.

Setting good strategies is only the first challenge. The hard part is to avoid distractions and make sure that you commit to the plan. A simple weekly ritual will greatly increase the chances of success.

A tool like Tability can also help you by combining AI and goal-setting to keep you on track.

More strategies recently published

We have more templates to help you draft your team goals and OKRs.

Planning resources

OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:

Table of contents
Copyright © 2024 Tability