Let’s Talk Pricing for profit … A key component to achieving success and reach your business goals .
We invited Mr. Vijay Ladha to guide us . He comes with ….
The key things to focus on to achieve optimum Pricing are :-
- Set Your Business Goals – Decide if you wan to grow your market share, reach a new segment or increase your revenue
- Determine Costs – Calculate the fixed and variable costs of everything to determine how much you will need to break eve.
- Decide o Profit – How much profit after expenses?
- Evaluate your Competition
- Know Your Customers
- Evaluate your strategy – to align it to your goals
The Major Pricing Strategy to achieve optimum pricing for profit are :-
1. Cost- Based Pricing
2. Competition Based Pricing
3. Customer Value Based Pricing
4. Penetration Pricing
5. Demand Pricing
6. Tiered Pricing
Its imperative to balance cost and value to arrive at the optimum pricing for profit that may work for your business.
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