Finding the Right Pricing Approach
In This Chapter
Facing the facts about pricing
Establishing or modifying your list price
Crafting price-based special offers in traditional media and via the web
Staying out of legal hot water
Getting the price just right is the hardest task you face as a marketer, but finding the right pricing approach makes success much easier to achieve. The bottom line is that the customer needs to pay — willingly and, you hope, rapidly — for your products or services. But how much will he or she pay? Should you drop your prices to grow your market? Or would raising the price and maximizing profits be better? What about discounts and special promotional pricing? Getting the price part of your marketing plan right is hard, but this chapter helps you through it by giving you a clearer idea about the many questions you may have about pricing and what it means to your bottom line.
Eyeing Pricing Opportunities and Constraints
Many companies fall prey to the myth that customers choose a product based on its list price (the published selling price in a ...