Christopher Murphy · 21 June, 2020
Summary: Pricing and positioning are inter-related. Where you position something – at the low- middle- or high-end of the market – will affect its perceived price point. Your price is also a form of marketing. (As a recent interview with Charles Burdett highlighted.)
If I go into McDonalds, I don’t expect to pay £500 for a couple of burgers. Similarly, a meal for two at noma isn't £5. (The prices are reversed. One is positioned as a convenience food, the other an experience. One you will forget, one you will remember.)
This series of lessons dives into the intricacies of pricing and positioning. I'm keeping all of the lessons light so that they're easy to consume.
April Dunford helped to shape my thinking on positioning and I'll be expanding on her thoughts shortly. I'll also be writing up some thoughts on prototyping your prices, taking them through an iterative loop – which you test against – as you experiment with launching products.
Price = Marketing