How do you calculate pricing for your small business? We?ve put together this roundup of awesome posts we hope will help. Pricing is a hugely important part of your small business strategy. Don?t make haphazard decisions about what you are charging today.
Operations
Using price discrimination to drive sales. Sometimes pricing shouldn?t be the same for every customer. Making decisions on how to segment your customer base?can start with price discrimination. Here are some examples of the principle at work. Small Business Marketing Strategies
How to price for profit. Small business pricing strategy is a key aspect of driving profit. After all, if your pricing strategy doesn?t bring in sufficient profit for your products or services,?the quality of?those products or services and the effectiveness of your marketing and customer service won?t matter.?CMV Live
Insights
The truth about small business pricing. This cranky letter to the editor from a small business owner bemoans the challenges faced by small business owners when competing against big boxes AND the reason paying less is not always a good thing. The lesson? Don?t complain. Seek your own pricing advantage. HJNews.com
Why low prices aren?t everything. If you think competing on price is the only way to gain the upper hand in your niche, take a lesson from the new J.C. Penny strategy. You may not need to cut your prices to win. But deciding on a?basis for your pricing and the value you feel you deliver are critical.?Bloomberg Businessweek
Tips
Taking a page from the Apple playbook. You know how important it is to keep coming out with new products and services for your small business, but how can continuing to offer older products at discount also help keep your competitors at bay? IT World
A survival guide for small retailers. Pricing?is at the heart of the competition between small?retailers, bigger stores and online retailers. But to?win, small retail business must learn to?first think beyond competing on price alone and then reach out to vendors who have a stake in their survival.?USA Today
Strategies
How pricing strategies can backfire. Whatever your strategy for pricing products and services, be sure customers can see the value of what you do. This experience from an Israeli company shows what can happen when a pricing strategy goes wrong. Haarets.com
Help your pricing strategy by giving your business a story. Take a lesson?from the?New York Knicks and the boost in ticket?prices?the team has experienced as a result of ?Linsanity.? Every business needs a story and the better yours is the more value customers?place in what you offer.?Huffington Post
Trends
Have you raised your prices with higher confidence? We?ve reported before that small business confidence continues to rise presumably due to a better economic outlook. Along with this?higher confidence, some small businesses have finally?begun raising their prices. How about you??Reuters
What farmers markets can teach small business owners. Farmers markets can be a?great boon for small businesses that offer agricultural products, but, as with every other small business, one of the most important considerations is pricing. How does pricing affect your business? Fox Small Business Center
Source: http://smallbiztrends.com/2012/02/small-business-pricing-guide.html
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