Chapter 11
Higher Return: Introductory Pricing Strategies
Let us always meet each other with a smile, for the smile is the beginning of love.
—MOTHER TERESA
Now that your company has a product or service ready for market, how can you use price to attract the attention of buyers and propel them to buy your product?
Two factors determine the success of an introductory pricing plan: knowledge and timing. By its nature, a new product is unfamiliar to potential buyers, and the burden of familiarization is on the seller. Precisely how your company should shape its introductory price will vary with each product, but while the application varies, the framework for success does not.
The good news is that the seller begins with an advantage. Sellers should ...
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