🕒 Timestamp: 40:01 – 50:00
Pricing and business model strategies determine profitability and sustainability:
- Freemium Models: Offer free trials or samples to attract users.
- Subscription Models: Create consistent revenue streams.
- Scalability: Ensure your business can grow without excessive costs.
Exercise: Optimizing Your Pricing Model
- Compare your pricing with competitors and analyze market expectations.
- Identify a pricing strategy (subscription, premium, freemium) that suits your product.
- Develop a plan to test and refine your pricing based on customer response.