Price Does Not Always Equal Value
What is the right price for your product or service? Most small business owners struggle with this question, because they confuse the cost of producing the product with the value it brings to the customer. When it comes to establishing a price for your goods or services, the value of your product has absolutely nothing to do with production cost. The value is based on how much you help clients save, increase, reduce or improve. If you can quantify these benefits, then you have a foundation for establishing an appropriate price for your goods or services. Read...
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Written by Amy Rowe Kudos to Scott Flood for a great columun this week in Indside Indiana Business. It begins with a story, many marketing professoinals can relate to: “The business owner stared at me through steel-blue eyes, his lower lip quivering in something like suppressed rage or unbridled contempt. I had just committed a cardinal sin: I had suggested that he might be wrong” It ends with an action item for every business owner: Go beyond stereotypes to understand what makes your customer tick. Their hopes, their dreams, and most important, their fears. ...
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