Please take a look at an article I wrote that was just published in the March edition of the Rhode Island Small Business Journal print and online versions (www.RISBJ.com) called How to Pick the Best Features for a New Product or Service. In this article, I...
FREE SEMINAR An effective pricing strategy is one of the most powerful tools any company has to increase profitability. Very importantly, it is a business tool completely within your control. You can use pricing to drive customer behaviors into patterns that increase profitability. Pricing can also...
I believe that the most powerful and constructive use of pricing is to use pricing to drive customer behaviors into patterns that drive profitability forward. In order to do this you need to understand what customer patterns will achieve this result. To figure this out,...
Over discounting costs small businesses money every day. It’s a bad practice. Over discounting comes in two flavors. The first is when a company offer discounts so frequently that customers don’t want to buy without a discount. The second occurs when discounts are offered when they...
[caption id="attachment_8942" align="alignright" width="300"] A Product With High Perceived Value[/caption] Mistake # 2 – You price based on what you need to make a profit It may seem that figuring out how much to charge so that you make a profit and then pricing accordingly is a...
One of the biggest mistakes small companies make is not raising prices every year or two. First of all, your costs are typically going up and you need to raise prices to get that money back. Otherwise your margins will fall and unless your sales...
[caption id="attachment_8934" align="alignright" width="300"] Pricing Strategy[/caption] Myth #1 – You need to price at or below your competitors. Especially for small companies, you need to differentiate your company and its products and price based on perceived value. Let’s face it, you will never be the low cost...
I am presenting on the topic of small business pricing strategies this Thursday evening 4/26/18 at the Newport Interactive Marketers meeting at The Parlor Restaurant, 200 Broadway, Newport RI 02840. Networking begins at 6:00 and my talk at 7:00. All are welcome. Hope to see...
I am being interviewed on Monday 4/23/2018 from 12:00 noon to 1:00 PM on WADK AM 1540 on “How to Price your Product or Service – The 5 top Myths and Mistakes”. You can also listen live at http://wadk.com/podcasts/-1540-live Bryan Mason...
[caption id="attachment_8614" align="alignright" width="300"] Niche Marketing[/caption] This article discusses how the retail landscape has changed over the last 30 years. However, it points out that margins have increased and that many small businesses are thriving by providing a better customer experience, a niche product or serving...
