Full Line

Full Line

Let me state the obvious: you can only use a product line pricing strategy if you have a whole product line or if you are in the process of building a whole product line (more than one product, and usually more than several products). This statement seems self-evident but remember products are not usually brought out in a full line; they are introduced one at a time.

So, to use a product line pricing strategy you will need to keep track of each product's life cycle stage, how inter-dependent the products are, when you estimate a product will leave the line, when a new product is scheduled to enter the line, and how the products in the line complement each other. All of these product line elements will affect your product line pricing strategy.

One way of looking at pricing for a product line is to consider pricing and profitability of the whole line, not only individual products of the line. In this type of price analysis, you might have some products that lose money but they help pull in buyers for those products that make money (preferably that make a lot of money). Other products in the line might just break-even but they contribute to the fullness of the line and help support the money-making products.

The other way to look at product line pricing is to analyze the importance of one or more products to the whole line. For example, for a car dealership, the car model is the product, and the accessories, extended warranties, service package, color, sunroof and other options are the rest of the line items. Those line items would be rather meaningless, for the most part, without the car as the primary product.

Product line pricing strategies can be further complicated by competitive activity by product, not exclusively by line. If you have five competitors for one of your products in the line, and then only two competitors for the other products in the line, you might use a different price strategy for the product with lots of competition, than the other line products.

Some more specific product line price strategies are optional-feature pricing (such as in the car example above); ancillary product pricing (such as a digital camera that is packaged with a lens, a case, a battery charger, a memory card, etc.); two-part pricing (such as a museum that charges for general entrance and then adds an additional charge for entrance to a special exhibit); product bundling pricing (in the above car example, if you buy the car and the accessories or one of the other options at the same time you will receive a better price than if you buy some of the accessories separately or later).

Make sure to build a strong promotional program for product line pricing; buyers need to clearly understand what they are buying, what the differences are within the line (especially if there is not clear differentiation), and the benefits of buying bundles, optional features or other line accessories at the same time as the primary product. Your buyers will also need to understand the pricing and value differences between the products and within the line.

For more information on pricing strategies, visit http://www.more-for-small-business.com/pricing-strategy.html and for more information on small business strategies and advice, visit http://www.more-for-small-business.com/
Kris Bovay is the owner of Voice Marketing Inc, a business and marketing services company. Kris has 25 years of experience in leading large, medium and small businesses. Copyright 2008 Voice Marketing Inc.

Circle Line Cruises - The Beast $24 Circle line sightseeing cruises the beast!

Circle Line Harbor Cruises - 75 Min $27 75min Harbor boat Cruise of NYC by Circle Line.

The Gray Line New York Eat and Play Card $24.99 The Gray Line New York Eat and Play Card

Circle Line Harbor Cruises - 3 Hours $36 Circle Line 3hr Harbor Cruises of New York City.

Circle Line Harbor Cruises - 2 Hours $31 2 hr Harbor Cruises of New York harbor by Circle Line.

Manhattan Comprehensive $89 New York Tour packages from Gray Line New York

Freestyle New York $109 New York Attractions Pass from Gray Line New York

Night Tour Loop $44 The Best New York Night Tour from Gray Line New York.

Midtown Cruise (90-min) $28 NYC Cruises of the harbours and skyline on Gray Line's CitySightseeing Cruises.

Land and Sea $69 NYC bus tours and sightseeing harbor cruises from Gray Line New York.

Downtown Cruise (60-min) Gateway to America $18 Sightseeing cruises of New York on Gray Line's CitySightseeing Cruises. Cruise by the Statue of Liberty, The Brooklyn Bridge and the NYC Skyline.

Classic New York Double-Decker Bus Tour $89 Double decker New York sightseeing bus tours from Gray Line New York.

Brooklyn Loop $44 New York's best Brooklyn bus Tour provided by Gray Line New York.

VIP New York Private Tours (4hrs) $696 Private tour guide in new york from Gray Line New York Sightseeing.

Uptown Loop $44 New York tour of uptown Manhattan on board Gray Line hop on, hop off bus tours.

City Tour in Foreign Languages + All Loops Tour $69 Foreign language bus Tours of New York City in Deutsche (german), Francais (French), Italiano (Italian), or Español (Spanish).

Harlem Gospel Tour (Wednesdays) $55 Gospel tour New York, Harlem, Churches and many more.

United Nations Tour $16 A guided tour of the United Nations, with a brief overview of the Organization.

The Hamptons, Sag Harbor & Shopping Day Trip $149 Tours of the Hamptons via bus from New York City.

Statue of Liberty + Empire State Building $35 Ferry ticket to the Statue of Liberty and the Empire State Building. Visit 2 of New York City's greatest attractions at a great price!

Empire State Building Observatory Tickets $21 Tickets to the Empire State Building Observation deck for a panoramic view of New York City.

Statue of Liberty + Top of The Rock $35 The Top of the Rock Observation deck ticket and a ferry ticket to the Statue of Liberty.

Empire State Building + NY Skyride $43 Tickets to the Empire State building observation deck and the NY Skyride, NYC's only virtual tour simulator.

Madame Tussauds New York Wax Museum $39 Madame Tussauds wax museum in New York City, tickets and information.

Freedom Trail Boston Tours from New York $149 Boston day trips from New York, NYC

All Loops Tour with Top of The Rock $76 New York Tour package of Uptown, Downtown, Brooklyn and Night tours plus ticket to The Top of The Rock Observation deck.

Washington D.C. - Bus Tours from New York $149 Washington DC day trips from New York City.

Harlem Gospel Tour (Sundays) $55 The best Harlem gospel tour in New York City.

Manhattan Helicopters : Classic Manhattan Tour $160 Manhattan Helicopters : Classic Manhattan Tour

National September 11 Memorial $10000 National September 11 Memorial

NYC Tribute Tour $99 9/11 Memorial tours NYC. Get your tickets here to enjoy admission to the Ground Zero Memorial, visit to the Tribute WTC Visitor Center, Ferry ride to the Statue of Liberty National Monument and 72 hours of Hop-On, Hop-Off double-decker fun.

Manhattan Helicopters : VIP Manhattan Tour $260 Manhattan Helicopters : VIP Manhattan Tour

New-York Historical Society Museum and Library $15 New-York Historical Society Museum and Library

Tribute WTC Visitor Center $1000 Tribute WTC Visitor Center

BODIES.. The Exhibition $29 BODIES.. The Exhibition

Dialog in the Dark $22.5 Dialog in the Dark

CSI: The Experience $29 CSI: The Experience

Guggenheim Museum $18 Guggenheim Museum

Washington DC by Train $309 A day trip to the Capitol of the United States of America, Washington D.C!

Gossip Girl Tour New York City $42 The Gossip Girl Sites tour in New York.