How To Turn Your Million Dollar Idea Into A Reality Part 3

89 From imagination to…From imagination to… pricing for profit Chapter 8 Many companies act as though 100 per cent of the population is price-obsessed. This delusion nibbles away at their profits and attracts only the most disloyal of all customers.... More

89 From imagination to…From imagination to… pricing for profit Chapter 8 Many companies act as though 100 per cent of the population is price-obsessed. This delusion nibbles away at their profits and attracts only the most disloyal of all customers. Jay Conrad Levinson—Guerrilla Marketing Key points Price is about value—it’s not about being ‘cheap’ or ‘expensive’. There are various methods you can use to set prices, but ultimately the market will decide what you can charge. Keep in mind the type of business image you are trying to portray when setting your prices. Consider your pricing as part of your overall business strategy. Pricing is often a difficult issue for budding entrepreneurs because if you get it wrong it can be disastrous for your business. Too high and you won’t make enough sales to generate the profit you require; too low and you will make lots of sales but still not generate the profits you need. This can be especially difficult if you’ve c Less