February 8, 2008, 2:05 pm
Tips for how to price your products
Windows and doors vendor Linda Diaz checks in with Ask FSB for tips on pricing her products. How do you set your prices?
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Pricing is a critical issue particularly with a weakening economy. Finding the right price for your customer and the right price for your company can be a delicate balance. If a business owner really understands his or her customer it helps with determining that middle pricing ground where both the customer and the business can profit. The most important question is "what does the customer value?" The answer may be "Saturday installation so I don't have to take time off from work" or a company's reputation for quality workmanship or any number of other variables. Figuring out what your customer values most and giving it to them can aid a company in getting a better-than-starvation price.
Caroline Jordan
Author of "Stop the Cash Flow Roller Coaster, I Want to Get Off!"
http://www.CashFlowRollerCoaster.com