How To Price For Optimum Profit - 3 Things to Consider
One of the greatest problems that businesses face is getting the pricing strategy right. This article explores the three key factors all companies need to consider when getting this vital element on target. Missing only one of the three can have disastrous consequences. As with everything, it does not take rocket science to get this right, however one slip, could seriously damage your bottom line. The three factors, equally weighed are as follows: The value that your customers put on your product and service (" Perceived Value "). Take a look at our article from 01/30/2018, Your Web Site's Success Are You A Perceived Expert Will you make a profit ? What your competitors charge for the same or equivalent (some use this pricing strategy based almost entirely on competition's prices. This is a common error. But don't take my word for it... ) Understand that competitive pricing is one strategy that involves many factors. Check out this article here . So ho...