Product and Pricing
Your product development and your pricing are essential parts of your marketing strategy. They are deeply connected. As you get clearer about who your customer is, your products need to align with that understanding. As you clarify your driving why, you also need to look at every product you offer and ask: Does this align with what I say my business stands for?
Sometimes we create products we personally enjoy, but if they don’t support our core why or reinforce our value system, we need to consider whether they still belong in our business. Are they serving the customer? Are they part of the larger movement you’re building? Or are they a hobby, a side project, or something to pause and revisit later?
First, get clear on what your products actually are. Then explore where each product sits in the market. This is where online research is your friend. Look at other businesses who are offering similar or adjacent products. Who are they serving? What gaps are they filling? How does your product compare?
From there, identify how you are better, different, or more uniquely positioned. How do your products meet a need in a way others aren’t? This understanding becomes part of your marketing language.
Next, revisit the vision and mission structure from earlier modules. Apply the same framework to each product. This helps you understand the purpose, alignment, and messaging behind everything you sell.
Pricing is also part of your marketing. Many people who care deeply about their work believe keeping prices low makes them more accessible, but low pricing can unintentionally dilute perceived value. If your pricing communicates “cheap,” customers may not trust or value what you offer.
On the other hand, you can only charge what the market will pay. Some industries have capped prices—for example, digital music—so your pricing must reflect both the customer and the category.
As you continue refining your vision, your customer understanding, and your brand, keep revisiting your product list and pricing structure. Collect feedback, see what’s working, and pay attention to the language your customers use. This language becomes powerful marketing material.
In this module, your task is to break down each product clearly and honestly. Understand its value, how it fits into your business, and whether the pricing reflects that.
Activity
Product Overview
- What are all of your current products? List them.
- Which products are performing well, and which are not?
- What does customer feedback reveal about what to keep, change, or redevelop?
Alignment & Purpose
- What problem does each product solve for your customer?
- What is the “why” behind each product?
- Does each product align with your business’s central vision and values?
- Does it reinforce the movement or value system you are building?
Pricing
- How much are you charging for each product?
- What does that price communicate about its value or your brand perception?
- Are you priced too high or too low for your customer and your market?
- Where do your prices sit compared to others offering similar products?
