The area where the most expensive mistakes are made is the amount we charge for our products. Itâ€™s an easy calculation: if you overlook the opportunity to raise prices by, say, 20 per cent, you overlook a 20 per cent lift in profits. Disaster! Whatever your business, what and how you charge for your products is crucial to your success. Click here to learn how to avoid dead-ends â€“ to move safely, test by test, towards higher profits.
A marketer must remain in touch with the nature and size of his market in order to set his price. He must set his price by regular sighting shots, otherwise he cannot have an accurate measure.
‘The value of a product is measured by how much someone is prepared to pay for it.â€™
Although most of us have will have heard that age-old maxim, it is, unfortunately, almost universally ignored by publishers.