Digital
products are defined as products that are transferred or sold
electronically, which are intangible products, unlike the physical
products we buy daily, but these products are marketed through the
Internet and are in the form of educational videos, such as audio files
or electronic books and the like and the importance of these products
day after day This is because all transactions in all fields have become
through the Internet, which supports the marketing of these products
better because they are audible and visible from a large number of
people.
Pricing and Importance of Digital Products
The pricing of products in general is through a thorough study of
several specific points and the most important nature of the market in
which the product will be marketed by the consumer always wants a
product or service concrete high quality, the price is reasonable
compared to the importance as in the case of digital products and the
price of the most important factors Which have an impact on attracting
new customers and also maintaining the loyalty of existing customers.
How to Pricing Digital Products:
The price of the product must always be proportional to the content of
what it offers to the customer. This is done taking into account the
price preferred by the potential customer. The price is determined
according to the need of the customers for this product, its importance
to them and the amount of demand. When dealing with a product, the
demand is large and increasing. This field thus asks customers for lower
prices for this product.
If the product has a large demand but it does not have many options
available in the market in this case, the competition in the field is
rare, which can be worth much higher than it looks and accordingly it
depends on the price on how to provide it correctly economically For
customers.
Pricing strategies for digital products:
The best strategy for pricing is defined when this strategy leads to
the best results in increasing the volume of sales and then achieving
profits and there is a lot of way to price digital products including:
1. High price strategy:
The high price of digital products depends on the extent of the
scarcity of these products and their importance to the people, where
when there is a rare product in the market or there is no great
competition can be launched this product at a high price so that the
maximum possible price and then work on the decline Progressive in price
and depending on the volume of demand for this product after being put
on the market.
But it is a disadvantage to choose a high price for a product that
people can distance themselves from and feel overpriced so it is
necessary to work to match the prices and expectations of consumers.
2. Low price strategy:
When placing a low price for a product when put on the market, it will
be priced less than the average prices of products equal to him and it
is very possible to attract the attention of people and work on the
experience of this product and when they make sure the quality of the
product and the price is less than the quality and quality that will
create some confidence between So that the price of the product is
applied to the products that are common use and have many competitors,
which makes the product gets great economical and competitive advantages
and is sold in quantity
Large but low price strategy for defects such that some customers could
question the quality of the product when sold at a low price, which
gives some misconception about this product, as is also the case in
digital products.
How to choose between digital product pricing strategies: -
1 - If one of the objectives of the owner of the product that he wants
to enter the market of products available in abundance and have a large
turnout and have many competitors will help him to choose a low price
strategy.
2 - If the goal of the owner of the product that he wants to invent a
new product and rare in the market and a pioneer in his field, he can
choose a high price strategy.
3. The price plan may be changed in cases of necessity and necessity.
4 - It is necessary to take into account not to exaggerate the
situation of the price, whether low or high, as the overestimation of a
low price of the product can lead to a misunderstanding of customers for
the low quality as in the case of exaggeration in a high price of the
product can lead to That eliminates the passion of the customer to buy.
Measurement of digital product pricing results:
Product pricing results can be measured on the basis of profit margin
measurement, where the product owner's strategy is determined to be good
or not through the ROI measure he has performed.
Finally, it can be concluded that product pricing strategies are one of
the most important things that should be studied thoroughly and
carefully by a person who enters the world of commerce in digital
products because of its great importance in the extent to which profits
are made and how to get the right choices.
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