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Run & Grow

Redesign your product to spark a price revolution

Here are the 3 ways

 With price-simplifying, price is the strategy. Everything else is tactics – the means to arrive at the target price. Price-simplifying rests on the observation that if you can halve the price, your market will more than double (and may well increase by ...

by Richard Koch  | November 30, 2016 12:00:00
Startup Tips

Why some prices are more right than others

Here are factors that determine what your most attractive price is

The whole field of marketing is strongly based in psychology. And this is absolutely true when it comes to pricing strategy.We’re all familiar with price tags that read US$ 9.99 or US$19.99. Do these really move more product than tags reading US$ ...

by Craig Simpson  | September 19, 2016 08:00:00
Startup Tips

When clients ask for discounts, ask them, 'why?'

Set the line between incentives for a valued relationship and downright devaluation for your work.

I bought several new vests recently. One was from G-Star, another from Banana Republic. They were not cheap, but not unreasonably expensive, either. I paid the price the shop asked from me. What I did not do was haggle over the price ...

by Jurgen Appelo  | April 20, 2016 09:00:00
Startup Tips

Pricing lessons learned from a Vegas prostitute

Lesson no. 1: Know your value.

I love pricing. I also love going to Las Vegas, especially when it is to attend a pricing conference. True, that’s not the reason most people visit, but then most people are not as passionate about pricing.On this particular trip, it was ...

by mark stiving  | April 19, 2016 11:00:00
Startup Tips

How much should I pay retailers for selling my product?

How much of your profits should go to your distributor?

Q: How much should I pay retailers for selling my product? I want to start selling my handmade jewelry in boutiques, but I do not know how much of the profits should go to the owner of the shop. A:Before distributing your ...

by Henry C. Ong  | January 17, 2013 02:00:00
Business Ideas

How do I find the right price my product?

Learn the secrets to finding the profitable price for your product.

When selling a product, food and otherwise, you have to ensure sufficient earnings to cover your costs. Any income made beyond the production cost is considered profit. Before pricing your product, however, you must know certain basic terms:Fixed costs (FC). Expenses that ...

by Rocel Ann G. Junio  | March 05, 2012 01:00:00
Startup Tips

Are you pricing your products right?

Factors you should consider

Pricing is one of the most important factors you must consider in whatever business you plan to put up.  The idea is not to price your product or service too high or too low. If your price is too high, not too ...

by Entrepreneur Staff  | October 26, 2011 02:00:00
Business Ideas

3 ways to persuade a buyer that the price is right

How to deal with price objections

You know your products are priced right. But what should you or your sales representatives do if the customer disagrees?Your sales reps may run up against price objections – and it’s especially difficult to compete against larger companies selling similar products or ...

by Entrepreneur Staff  | September 13, 2011 06:00:00
Startup Tips

Guide to setting the right price

Learn how to price with these 4 tips

After finally pursuing the business idea you’ve always dreamed of and finding the right suppliers, the next important step for any entrepreneur is deciding on the pricing. This is a tricky step that could mean the difference between business boon or bust. ...

by Joyce Roque  | June 23, 2011 12:00:00