Hey team! Today, we're going over some key strategic pricing methods that can help us better price our products. I'll be using our popular "Popa" fizzy drink as an example.

First up, we have cost-plus pricing. It's straightforward—you take the cost of producing the product and add a markup. For example, producing a can of Fizz costs 50 cents, and we want a 100% markup, our selling price becomes $1. It's easy to use, but it doesn't consider things like customer demand or competitor pricing, so we have to be mindful of that.

Next is competitor-based pricing. Here, we set our prices by looking at what our competitors are charging. We can either price lower to attract customers, or higher if we're offering something more premium. If our competitor sells their product for $2, we might set our price at $1 to gain a competitive edge.

Now let's talk about value-based pricing. This strategy is based on how much our product is worth to the customer. If Popa offers unique flavors, healthier ingredients, or a cool brand story, we can charge more because customers will see the extra value. It's all about positioning our soda as something worth paying more for, because of the benefits we provide.

The last strategy is dynamic pricing. This means adjusting prices based on demand. For example, we could raise our price to $1.5 when icy refreshments are more popular during summer. This keeps us flexible and can help us maximize revenue, but we need to watch market trends and customer behavior to make it work.

Each strategy requires specific data and has its unique impact on our revenue. Choosing the right strategy will help us succeed in the market and make sure our soda stands out. Let's use these to our advantage as we push forward!