Improving your sales figures is one of the most important factors when it comes to running a business. There are many ways to start making more sales, but one of the most common ones is discounts. If there's one thing customers can't resist, are bargains. If you're a business owner, you can't implement discounts in many ways. In recent years, one of the most popular … [Read more...] about How to Use Discount Pricing Strategies to Make More Sales
Pricing Strategies
Price Perception: The Psychology of Pricing
Pricing is more than just about numbers; it is a play on perception. In many cases, the psychology of pricing is more important than the actual price itself. And small businesses that understand how psychology plays with their pricing strategies can come out the winners. People process numbers differently, and we'll often never know what is in their minds when they consider … [Read more...] about Price Perception: The Psychology of Pricing
How to Charge Higher Fees: Secrets of Value Pricing
Why is it that some service business owners, freelancers and independent professionals charge (and receive) much higher fees than others? Is it their expertise and professionalism? Is it their education and track record? Is it the value they offer? Or it is a combination of all of these? And is there a secret to charging more? Yes, the secret is called "Value … [Read more...] about How to Charge Higher Fees: Secrets of Value Pricing
15 Pricing Tips for the Small Business Entrepreneur
Pricing your products or services is one of the hardest decisions you will make as an entrepreneur. Setting your prices is as much as an art as it is science, with loads of psychology thrown in. You need to balance data with judgement gleaned from customer feedback and the marketplace to inform your pricing decisions. The best pricing strategy is dependent on the type of … [Read more...] about 15 Pricing Tips for the Small Business Entrepreneur
Managing Retail Price-Point and Margin Pressures
The greatest challenge independent retailers are struggling with right now, even more than depressed traffic counts, is getting full margins for their goods. This struggle continues with fresh arrivals of fall goods, and shows no sign of abating. Customers remain extremely value conscious, and to them, that means "On Sale". It's important to recognize that what's at work … [Read more...] about Managing Retail Price-Point and Margin Pressures