Answer to Question #312180 in Marketing for Mohd Danish

Question

A videographer specializing in weddings currently charges $2,000 to shoot a wedding. 

She has been shooting weddings for over twenty years and has now booked some well-known 

clientele. Which two pricing strategies would be most strategic for this videographer and 

why? What other pricing recommendations would you make to this videographer?

Answer 1

Since the videographer is a very experienced person with celebrity-status clientele, she can command premium in the market. Also, the nature of the business is cyclical and seasonal in nature. Thus the recommended pricing strategy for her are PRESTIGE PRICING & DYNAMIC PRICING to maximize her profit.

Other pricing recommendations: If the clients are willing to explore other offerings as well, it is better to pitch with bundle offers and charge them on Bundle Pricing option as well.