Any phase · Craft
Price and package a product
Pricing and packaging decide what customers pay for and what they get. They shape who buys, how they use the product and how the business grows.
About 5-15 daysEvergreenLast reviewed 5 November 2026
Who this applies to
- Skills it builds
- Commercial and business sense
- PM types
- All
- Product types
- All
- Starting points
- All
- Ways of working
- All
- Experience
- Experienced (5+ years)
- Size of organisation
- All
Steps, by experience
Beginner (under 1 year)
- Learn what customers value most.
- Look at how alternatives charge.
- Pick what to charge for.
- Group features into simple plans.
- Test before launching.
Intermediate (1 to 4 years)
- Research willingness to pay.
- Choose a value metric that grows with customer value.
- Design simple packages and test them.
Experienced (5+ years)
- Choose a value metric that scales with customer success.
- Design packages for different segments, with clear reasons to upgrade.
- Test prices with research and controlled experiments.
- Plan price changes and how to treat existing customers.
Who can do this
Owner: Product manager
Can be delegated to
- Data Analyst or Data Scientist / ML Engineer: Analyse usage and revenue by segment
- Policy / Legal / Compliance: Check pricing terms and consumer law
Reviewed by: Data Analyst, Policy / Legal / Compliance
Tool examples
- Power BI
- Model revenue under different pricing scenarios.
- Google Docs
- Document pricing principles and the reasoning behind each package.
Definition of done
- Value metric chosen
- Packages designed with clear upgrade reasons
- Prices tested before launch
Common pitfalls
- Pricing from cost rather than value
- Too many plans
- Changing prices without a plan for existing customers