|
Pricing and Sales
For Small and Home-Based Businesses
Your pricing strategy
is another marketing technique you can use to improve your
overall competitiveness.
Get a feel for the pricing strategy your
competitors are using. That way you can determine if your
prices are in line with competitors in your market area and
if they are in line with industry averages.
Some of the pricing strategies
are:
-
Retail cost and pricing
-
Competitive position
-
Pricing below competition
-
Pricing above competition
-
Price lining
-
Multiple pricing
-
Service costs and pricing (for service
businesses only)
- service components
- material costs
- labor costs
- overhead costs
Another key
to success is to have a well-planned strategy, to establish
your policies, and to constantly monitor prices and operating
costs to ensure profits.
It is always a good policy to keep abreast
of the changes in the marketplace because these changes
can affect your competitiveness and profit margins.
Learn More About Pricing
in the Getting Started Area.
Previous
Page
|
|
A
Word About . . .