Make sure to check these off your list.
Categories Pricing Strategy
Is your product or service priced to sell?
Pricing strategy seems like a relatively straightforward idea -- it's simple enough to calculate the cost of your time (plus expenses) or unit costs are, for instance -- but it gets trickier as you dig your heels in.
What do you do when a competitor slashes prices, for instance? How do you raise rates or mark up a product for existing customers? What exactly is a loss leader? And when (if ever) should you offer freebies? All these questions, and more, can impact your success. Find out why below.
Don’t look at what everyone else is charging to determine the price of your product or service — it should reflect the value you provide your customers.
A stale pricing strategy is an easy way to lose out to your competition.
Not sure how to price your product or service? Ask the people who would be paying.