© 2011 Apptivo Inc.
All rights reserved.
Finding the Right Price Point for Your
Business
When it comes to business in order to sell your products or services two things must happen:
1.
There must be a demand for what you are offering
2.
It must be...
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© 2011 Apptivo Inc.
All rights reserved.
Finding the Right Price Point for Your
Business
When it comes to business in order to sell your products or services two things must happen:
1.
There must be a demand for what you are offering
2.
It must be priced right so that the consumer chooses to buy that product
If either of these elements is missing then there will be no sale and no revenue.
But how does one
find the perfect price point? Well, it can certainly be a bit of a taxing project but it can be done.
The price needs to hit a point where consumers will buy but it also has to be profitable for your
business.
In other words you need to find a balance.
The Consumer
Base your decision for price on the type of product.
For example, consumers will hunt out lower
priced gas stations to save money, or they’ll happily seek out the latest fast food special.
If you
charge $1.
00 more than the competition for a cup of coffee they’ll go elsewhere.
You need to
find the point at which
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