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Business Articles
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Product Pricing
The Impact of Price Popularity on Profits
The goal of almost every business owner is to generate a profit either for themselves or their shareholders. This can be challenging at best. So much thought and effort go into running a business, accounts payable, accounts receivable, dealing with vendors, customers, etc. Because of this people sometimes do not focus on one of the most important factors- pricing. Knowing how much you can charge for your product or service is invaluable information. Businesses typically want to increase volume and prices at the same time. In a perfect world that would be easy to accomplish, yet we do not live in a perfect world. So just how do businesses go about deciding how much to charge for a product or service.
Aug 8, 2005, 23:15
Business Articles
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Marketing
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Product Pricing
Pricing Strategies in Marketing
Price is an often overlooked marketing strategy, as many tend to focus on promotions or advertising. Pricing strategies, however, can have a large impact on sales and (more importantly) profit. The price is what your customer pays and/or what the end consumer pays for a product or service. In the case of products not sold directly to the end user, pricing is often described as “wholesale” and “retail.” When the distribution channel is long (such as when there is a manufacturer, broker/distributor, retailer, and end consumer), multiple mark-ups can occur between the wholesale and the retail price
Aug 3, 2005, 02:04
Business Articles
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Marketing
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Product Pricing
Small Business Pricing Strategies
Think the best way to get more customers is to have the lowest prices in town? Think again. Think the best way to create a successful business is to try to appeal to everyone? Wrong again.
The only good thing about having the lowest prices and trying to appeal to everyone is that you’ll fail quickly and be out of your misery.
Aug 3, 2005, 02:01
Business Articles
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Marketing
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Product Pricing
Psychology of Setting Prices
Pricing is one of the four major components of marketing. Psychological pricing forms one of the key elements of demand pricing wherein the consumer demand is the main focus. The price and quality relationship that governs the central theme of the consumer market relationship is surrounded by uncertainty and gives the consumer the perception that higher the price, better the quality
Aug 2, 2005, 06:46
Business Articles
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Marketing
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Product Pricing
Smart Discounting: The Right Way To Discount Your Products
If a store had a great discount in the middle of the woods and nobody was around to hear about it, would it make a difference?
Jul 29, 2005, 23:42
Business Articles
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Marketing
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Product Pricing
Small Business Pricing Strategies
TACTIC #1 -- Never simply slash your prices, unless you're trying to empty obsolete inventory. Instead, try repackaging your prices so they're more affordable in the short-run so more prospects can afford them. For example, rather than pricing your service for the year, "Our monthly newsletter is only $39 for the year." Instead, try "Our monthly newsletter is only $3.25 per month." If you accept credit cards, it's very easy to set up reoccurring monthly charges that are billed to your subscribers without having to intervene every month beyond the initial account set up. The upside to offering your subscription on a monthly basis is that you can now market a $3.25 headline versus a more expensive $39 headline, i.e. you're able to offer services at a more affordable rate without slashing prices.
Jul 26, 2005, 01:22
Business Articles
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Marketing
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Product Pricing
Pricing Products Profitably
Pricing Products Profitably: How to price products profitably. In setting prices, the objective is to maximize profit. Profit has just three ingredients: costs, selling price and sales volume. In this articlre we are concerned with selling price, which has about the same elements for all types of businesses.
Nov 1, 2004, 09:05
Business Articles
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Marketing
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Product Pricing
Pricing Services Profitably
Pricing Services Profitably: Successful business owners know that the greatest opportunity for success and growth comes through quality of service and customer satisfaction. However, the service must be priced properly or
there will be no profit.
Nov 1, 2004, 08:47
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