Hitting the Bull’s-Eye: Avoid a Dartboard Approach to Pricing

Geoffrey Jaroch, MBA, CAE, Senior Director of Marketing for the College of American Pathologists and McKinley’s Mike Norbut recently wrote an article “Hitting the Bull’s-Eye: Avoid a Dartboard Approach to Pricing,” which appeared in the March 2013 issue of FORUM magazine, published by the Association Forum of Chicagoland. See below for an excerpt.

5 Questions for Strategic Pricing

With a disciplined approach to pricing, you can minimize guesswork and maximize revenue opportunities.

The process starts with five key questions about your members, your competition and your product, which will help you zero in on an optimal price that increases sales as well as profits.

The College of American Pathologists (CAP) recently asked those questions. Based in Northfield, Ill., it has more than 18,000 pathologist members and is constantly looking for ways to help them improve their skills and enhance their education. One opportunity that CAP identified a few years ago was a set of certificate programs based on cutting-edge topics in pathology. Catering to small groups of 20 or less per class, the College wanted to create a rigorous, hands-on program that would generate demand based on the quality of the education and the exclusivity of the certificate.