In episode #1330, we chat about how Peloton turned a failing model around to become a billion-dollar business, using only one marketing tactic! That’s right, we are talking about pricing. If your products or services are priced to high or too low your sales can easily suffer. Tune in to hear about ways to intelligently price your offers in order to maximize sales for your company and keep growing!
TIME-STAMPED SHOW NOTES:
[00:25] Today’s topic: How Peloton Went from Failing to Becoming a Billion-Dollar Business Using One Marketing Tactic.[00:34] Quick information on Peloton and what the company offers.
[01:09] The initial struggles that the founder of Peloton had with investors.
[01:48] Too cheap or too expensive — both bad for sales.
[02:39] The impact of intelligent pricing; signaling quality through the price tag.
[04:17] Current prices on Peloton’s products and financing options they offer.
[04:50] Starting with high-end pricing and then moving down-market with cheaper items.
[05:19] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information.
Links Mentioned in Today’s Episode:
Peloton
Nike
Allbirds
Patrick Campbell
Price Intelligently
ProfitWell
Tomasz Tunguz
Affirm
Tesla
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