Instituting value-based pricing over other common methods, like cost-led and positioning (pricing yourself against your competition), generally has a positive impact on business profits. Why? Because most businesses tend to underestimate their own value, thereby pricing below what they are truly …
Pricing Articles and Interviews (tag)
Your Bottom Line is Not Your Client’s Problem
The number one misconception service providers and freelancers need to shake For new business owners, pricing presents one of the earliest and greatest challenges. For independently employed service providers, freelancers and consultants who do not sell a tangible product, the financial demands …
Maximizing Profits
Maximizing the profitability of your business starts with a well-developed, value based pricing strategy. This is done by creating, understanding and quantifying the value that your product brings to the market. While pricing is one of the four components of the marketing mix (product, promotion, …
5 Guidelines to Raising Your Prices without Losing Customers
Stay in business long enough and you’re going to have to deal with raising your prices at some time or another. After all, if you don’t, your profits will be eaten up by your increased costs, which means that you’ll be making less even though your bills are likely higher than ever. While some …
Why Discount Pricing Does Not Work
A common thought among most business owners is that if you want to increase sales volume and increase profits, you should lower your price or offer discounts. That type of thinking and strategy could not be further from the truth. While sales volume could occasionally increase with discounting, it …
