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
Pricing Strategies
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
Global Wholesale Distribution and Price Market Research
One possible business you can start on the Web is global wholesale distribution. This requires choosing an industry to target (e.g. brand named consumer electronics), obtaining a list of verified suppliers from a reputable source, and selling the items you've purchased in your own market for a profit. The global wholesale distribution business entails moving merchandise from … [Read more...] about Global Wholesale Distribution and Price Market Research
Pricing Your Lawn Care and Landscaping Services
Articles in the Series: Starting a Lawn Care and Landscaping Business The Landscape and Lawncare Services Industry How to Start a Lawn Service Business Tools and Equipment Used for a Lawn Care and Landscaping Business Pricing Your Lawn Care and Landscaping Services Marketing and Promoting a Landscaping or Lawn Care Business Additional Services and Revenue … [Read more...] about Pricing Your Lawn Care and Landscaping Services
Selling a Price Increase in a Soft Market
Selling a price increase can be difficult in nearly any type of situation, but trying to sell one in a soft market can be downright brutal. Yet, as unpleasant as it can be, it is often essential. The problem of selling a price increase in a soft market usually stems from the fact that the salesperson and the customer are coming at the situation from different perspectives. … [Read more...] about Selling a Price Increase in a Soft Market
How to Price Your Wedding Photography Business
Pricing your wedding photography business is not an easy task. In fact, even established photographers with years of experience in the business still find themselves tweaking and adjusting their price list. So don’t get disheartened if you don’t get it right the first time. The first step in setting your prices is to determine who your ideal customer is. Once you've … [Read more...] about How to Price Your Wedding Photography Business
Price Increase: How to Sell to Your Customers
We've all had to deal with price increases in one form or another. Similarly, many of us have been faced with a belligerent customer who not only is unwilling to accept your price increase, but also threatens to switch to your number one competitor. When this happens, we're often left with the feeling that our career is on the brink of imploding. But, don't panic! Take a deep … [Read more...] about Price Increase: How to Sell to Your Customers
Why You Should Not Cut Your Prices
In today's marketplace, offering discounts seems to be the number one technique people are using to try and get business. Management has bought into the age-old argument that the only reason their salespeople can't sell more is because their price is too high. It's time to put this to rest. This argument of cutting prices actually reveals the lack of selling skills by the … [Read more...] about Why You Should Not Cut Your Prices
