Pricing

I’m an avid reader of the small business section  in the Sunday Times. In the 17/1/10 edition the above subject was discussed and a few examples given. In principle the rules of engagement suggested were:

• Consider a cheaper range
• Beware of marking down prices of existing products
• Don’t be sentimental about what you sell. Think profit and demand
• Mirror the needs of the maket place in your product
• Communicate with your customers to help guide product (range) development
• Be aware of profitability - product but don’t forget about volume
• Review the way you sell

In a nutshell a successful business is not about cutting costs alone its about selling more!

This entry was posted on 20/02/2010 at 08:54 am and is filed under Tips and Ideas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.