How To Determine The Right Price For Your Product Or Service

Businesses that focus on the value-rather than the cost-to the customer can command nearly any price they choose. Pricing for Profit teaches business owners how to break free from industry pricing and obtain pay that reflects the genuine worth of the product or service being delivered. Readers will discover how to quantify the worth of their products or services, differentiate between price and value purchasers, bundle their offers for competitive advantage and enhanced customer value, and create a powerful marketing strategy that communicates value. The low prices that small firms feel obligated to offer limit their potential to earn profits, slowing their reaction to changing client needs. This accessible and practical guide is a must-read for anyone who wants to create more unit sales, close more transactions overall at higher prices, and make more money with less unneeded effort. It is filled with easy-to-use formulas, sample scripts, clear examples, instructive exercises, and more.

Businesses that focus on the value-rather than the cost-to the customer can command nearly any price they choose. Pricing for Profit teaches business owners how to break free from industry pricing and obtain pay that reflects the genuine worth of the product or service being delivered. Readers will discover how to quantify the worth of their products or services, differentiate between price and value purchasers, bundle their offers for competitive advantage and enhanced customer value, and create a powerful marketing strategy that communicates value. The low prices that small firms feel obligated to offer limit their potential to earn profits, slowing their reaction to changing client needs. This accessible and practical guide is a must-read for anyone who wants to create more unit sales, close more transactions overall at higher prices, and make more money with less unneeded effort. It is filled with easy-to-use formulas, sample scripts, clear examples, instructive exercises, and more.

If you are trying to sell something on the Internet, pricing your services/ products would be the single most important decision you will take. Since, the Internet provides thousands of alternatives to the customers, you need to be at par with the competition. The prices that you quite will determine how long you can stay in the market. You need to acquire a clear cut idea about pricing. To what extent can you push it? How often do you need to review the prices? A lot would depend on how you handle this stage of business.You have to pinpoint a consumer group to begin with and then estimate how much they would be willing to pay for your services or products. But besides that you also have to ensure that you make some profit for yourself. And quite often these two demands can be in conflict with each other. Different people use different techniques to set the prices of their products. Some of them have a scientific basis and some do not. Given below is one such procedure which works with an understanding of the production cost, customer expectations and other players in the field. Cost is defined as the sum total of the expenses that you incur when making a product. Expenses include cost of raw material, machinery, packaging, delivery etc. Price is amount customers have to pay for per unit of you product /service. For you to make a profit, the price should be more than the cost. Your prices should be consistently above the cost if you are planning to run your company for a long time, except in special cases. Sometimes you can lower the prices, to gain entry into a market for example. Starting with prices which are lower than your competitors would make people notice you. And once you collect a decent number of customers you can gradually increase prices! How much would customers pay for your services is directly proportional to significant and valuable they think your product is. Of course your marketing strategies and reputation in the market will play a significant role in this regard. Between these two numbers, your cost and the price your customers are willing to pay for your product lies your ideal price. If your price is a little lower than what your customers are willing to pay for your services, it would definitely work in your favor in the long run. If your price is higher that what is fair in the eyes of the customer you would end up losing your appeal and market and gradually your viability.

Do you want your sales to grow steadily? Are you looking to know the right price for your product or service? or maybe Do you want to know strategies for big sales? In "Sales Improvement" you will find the necessary instructions so that your business has an exponential increase in your sales, following the price control strategies in a simple way. In this book you will learn: Price summary -Pricing with Regard to Competition -Premium Products Sell at Premium Prices -Increase Sales by Presenting Choices -Rewards for Customers Equal More Cash in your Pocket -Trials & Lead Generation - Etc ... Summary of Value Added -Adding Value Explained -Cut Off Dates -Limited Numbers Done Right -Etc ... And more. The sale price is the value that your product or service will have on the market for the consumer in a common relationship with the exchange of monetary value. With this book you will know how to determine the right price for your sales to grow. You will have the independence you need. Let's start with this!

Furnishes a practical and easy-to-understand guide on how to use pricing to increase hidden profits and develop new growth opportunities, offering helpful advice, strategies, and techniques for increasing profit margins. 20,000 first printing.

The price of a product or a service is a critical element of the marketing mix. If priced too low, product sales may go up, but the product margin suffers; priced too high, customers look for other alternatives and sales may decline. Despite the critical role price plays in influencing corporate revenue and profit growths, formal training of the pricing function is often missing from business school curriculum. This book provides business students as well as managers necessary tools to make profitable pricing decisions under a variety of real-life contexts current and emerging. It offers a balance of theory, applications, and analytics to achieve the goal of arriving at appropriate pricing decisions in a competitive and changing business environment. The book begins with a framework for pricing decision and utilizes short cases and numerical illustrations to demonstrate how customer valuation, cost, and competition are triangulated to arrive at a feasible price range for a new or an existing product. Theories from economics and psychology provide conceptual foundations for price customization and segmentation, framing price offers to customers, price bundling, and other prevalent pricing practices.

Joe Girard was an example of a young man with perseverance and determination. Joe began his working career as a shoeshine boy. He moved on to be a newsboy for the Detroit Free Press at nine years old, then a dishwasher, a delivery boy, stove assembler, and home building contractor. He was thrown out of high school, fired from more than forty jobs, and lasted only ninety-seven days in the U.S. Army. Some said that Joe was doomed for failure. He proved them wrong. When Joe started his job as a salesman with a Chevrolet agency in Eastpointe, Michigan, he finally found his niche. Before leaving Chevrolet, Joe sold enough cars to put him in the Guinness Book of World Records as 'the world's greatest salesman' for twelve consecutive years. Here, he shares his winning techniques in this step-by-step book, including how to: o Read a customer like a book and keep that customer for life o Convince people reluctant to buy by selling them the right way o Develop priceless information from a two-minute phone call o Make word-of-mouth your most successful tool Informative, entertaining, and inspiring, HOW TO SELL ANYTHING TO ANYBODY is a timeless classic and an indispensable tool for anyone new to the sales market.

Businesses that focus on the value they provide to customers, rather than the price they charge, have the freedom to set virtually any price they like. Business owners may learn how to break free from standard pricing practices and charge what they're really worth in Pricing for Profit. Readers will be able to put a dollar amount on the worth of their products or services, differentiate between price and value purchasers, bundle offers to get an edge in the market and delight customers, and craft a compelling marketing strategy that effectively communicates value. The cheap prices small businesses feel compelled to give hinder their ability to turn a profit and also make it harder for them to adapt to the needs of their clientele. This accessible and practical advice is a must-read for anyone who wants to boost unit sales, close more deals overall at higher prices, and make more money with less unnecessary work. It's loaded with useful formulas, script examples, clear explanations, interactive activities, and more.