Getting your price right


Six reasons not to be cheap as chips

Pricing strategies

Getting your price right is hugely important. A 10 per cent increase in your price can increase your profits by as much as 40 per cent.

Setting the right price can be a tricky process. This is because price is tied up with the whole notion of ‘worth’ and is a very emotional issue. People often find it hard to ask a fair market price for their product or service because deep down they have a low sense of their own self-worth.

To get round this whole emotional minefield, people (and far too many business books) rely on technical pricing solutions. The ...

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