Toot Your Horn to Prevent Price Wars

If there’s a reason you can maintain a low price easier than your competitors, make sure they know about it. It could prevent their starting a price war. Example: All the PR Walmart sought & received at launch on Walmart’s innovative and cost-saving warehousing … was really just a warning to its competitors. It said,Continue reading “Toot Your Horn to Prevent Price Wars”

Relationship Marketers & Pricing

The relationship marketer desires information on customers to better market them in the future. One way to do this: Set prices high and offer discounts for providing more information. Source: The Tao of Pricing See also: 47 Ways to Raise Prices …Without Losing Customers. #pricing psychology #pricing strategy #entrepreneurs

Free Samples

Free samples of compelling products build life-long customers. Examples: Food in grocery stores, free chapters of books, free first novels in a series, or free samples of almost anything used frequently. However… this technique is so powerful society must beware when the product is addictive, e.g., cigarettes and hard drugs. Source: The Tao of Pricing.Continue reading “Free Samples”

Pricing for Business Prospects

If business prospects can accurately measure the the sales your product delivers, give discounts or even a free sample so they’ll try you. Example: A direct-response advertiser will buy frequent ads IF the ads make them money. Show them — with a free ad if necessary — your blog/publication/website will do so. Source: The TaoContinue reading “Pricing for Business Prospects”

Wondrous Rebates

A rebate is a wondrous thing. It lets you discount your price ONLY to your most price-sensitive customers. How? Because only customers worried about the price will take the trouble to redeem one. Source: The Tao of Pricing. See also: 47 Ways to Raise Prices …Without Losing Customers. #pricingpsychology #pricing #entrepreneurs

Something is better than nothing

Receiving something is always more profitable than receiving nothing. Consider this when setting your price on hard-to-sell inventory, remnant airtime or space, or hours you’d otherwise spend contemplating your navel. Source: The Tao of Pricing. See also: Pricing Psychology Report. #pricing strategy #entrepreneurs