PRICING STRATEGY
It is the amount of money a customer must pay to obtain a product or service.
Answer: Price
The model developed by Simon Sinek that encourages innovators to communicate starting from purpose to method, then offering.
Answer: Golden Circle Framework
It involves determining prices by adding a markup percentage to the total cost of production.
Answer: Cost-Plus Pricing
This is the core belief or purpose of your business idea—your cause, your reason for doing what you do.
Answer: Why
This pricing strategy sets a low initial price to quickly attract customers and gain market share, often used for healthcare products or services.
Answer: Penetration Pricing
This part of the Golden Circle explains the specific actions taken to realize your ‘Why’ and make your solution possible.
Answer: How
A strategy where prices are set high initially and lowered over time, often used for new, innovative health technologies or products.
Answer: Price Skimming
A short and persuasive speech that explains your nursing business idea or innovation clearly and quickly, usually within 30 to 60 seconds.
Answer: Elevator Pitch
This pricing strategy sets a low initial price to quickly attract customers and gain market share, often used for healthcare products or services.
Answer: Penetration Pricing
The key element of an elevator pitch that explains the unique benefit your product or service provides to solve a health-related problem.
Answer: Value Proposition