If time is money, how much is yours truly worth? If you charge less than your competition, potential customers might question the quality of your services. On the other hand, if you charge more, they might be frightened away. Somehow, you need to find a safe middle ground — a reasonable price that attracts customers, […]

Date: 2018/05/07

The right price has to be low enough to attract customers and high enough to make them profitable. It’s part art and part science, and there are several factors, which go into the development of an optimum price.   Here are the steps to follow tomake sure your price is right.

Date: 2011/12/07

Many small businesses are not making a profit today because they do not know the basic concepts of costing and pricing. The situation is most serious in the service business because each service performed has a different cost. Frequently, the service business must bid for jobs by making a price quotation in competition with similar […]

Date: 2011/12/07

This aid is a checklist for the owner-manager of a small retail business. These 52 questions probe the considerations–from markup to pricing strategy to adjustments–that lead to correct pricing decisions. You can use this checklist to establish prices in your new store, or you can use it to periodically review your established pricing policy.  This […]

Date: 2011/12/07

As a small manufacturer, you should not compete on the basis of price unless you are the low-cost producer. Usually you should compete on the basis of product performance, quality, delivery time, or whatever advantages you can offer customers over your competitors.  Good pricing practices require an understanding of the influence of market factors, the […]

Date: 2011/12/07