BUSN 491 Pricing Strategy

Evaluating Pricing Strategies

The requirement for the assignment was to develop a chart with a Pricing Strategy and an estimated “Break Even” post (charted). This was due to be posted by midnight.

Members of the BUSN 491 class: I know that you have been working hard on your Business Plans and financial statements. Some of you also doing presentations today. There is one item that we need to clean up; and that is your pricing strategy document. That was still an individualized item, and so I will give an individual score. Unlike some of the credit for entrepreneurship interviews, I do need to grade this document. It's worth 10% of your grade.

I have gone through and looked at what I had requested and what was included in the document. Because of the resources available to you with the tools online that were given to you for this assignment, I did expect as part of this assignment that you would give some consideration of the different pricing options. I believe we discussed this in class. Certainly the types and mix of products and services that you're offering would be considered; as well as comparative products from other competitors, your cost of doing business and the consideration of the other influences, and how all these things are affecting your pricing. You also were asked to consider a breakeven point for your products. With the break-even plan you should be looking at your overall product offerings. Also if the information was incomplete, or the paper was late, then points would be deducted.

So what I'm going to do after this note is to send you a checklist with these items and what I saw on your pricing strategy. I believe the assignment called for a pricing strategy in Unit 5. But I'd like you to reflect back and consider if I missed something in the review of the document. Perhaps you did provide the items that I requested. So I'll give you a couple days to review my checklist and your pricing strategy, and then by Thursday I want to be able to submit a final grade on this.

I looked at some of the information posted on the Blackboard site for this course on pricing, specifically these web link which were available to you:

· http://www.smallbusinessnotes.com/marketing-your-business/pricing-a-product-or-service.html .

· http://www.bizfilings.com/toolkit/sbg/marketing/packaging-pricing/pricing-is-difference-between-success-failure.aspx

Category to Assess

Consider pricing options

Product/Service Portfolio

Comparative Products/Svcs?

Consider other influences

Costs

Break Even

Paper Late?

TOTAL