Pricing Strategy 101

leadershipCategory:  MGMT / LEADERSHIP – Duration: 15 minutes – Prerequisites: None

Summary

Pricing is part of marketing. It communicates in its most basic sense the value of your services and products. What are your prices telling your market today? “We’re the cheapest.” “We don’t understand the market.” “We are the creme de la creme.”

Your prices are saying something and you need to be certain you understand what they are saying. You also need to realize what your prices are doing to your bottom line and how that impacts job costing (understanding what your direct and indirect costs really are).

Do you have a communication strategy for announcing a price increase? Do you always just raise your prices by $2 every two years and have no idea that you’re not even keeping up with inflation?

In this course, we’ll get you on the right track and help you understand if you are under, over, or at market for the VALUE you are providing. We’ll also help you establish a strategy for communication with staff and customers so that everyone’s on the same page and you can keep your profitability right were it needs to be.

 

banner