If an increase in your costs necessitates an increase in your price… even a minor modification to your product can divert attention from the price increase. Source: The Tao of Pricing.
Tag Archives: raise prices
Should high-quality brands use “99” in their prices?
Maybe not, says new book 47 Ways to Raise Prices …Without Losing Customers! If other high quality brands in your market use 99 cents or 99 dollars in their prices — you can get away with it too. But you should see an increase in quality perception — and maybe even in sales — byContinue reading “Should high-quality brands use “99” in their prices?”
Increasing Prices Through Sales Negotiations
Need to raise prices? If your business uses salespeople, consider outsmarting price bargainers who claim they should pay less because part of your product/service isn’t valuable to them. Agree to accept less only if they agree to the product/service without the disputed feature. Even if it would be hard (or almost impossible) to remove thatContinue reading “Increasing Prices Through Sales Negotiations”
Should you “fire” some customers?
By not spending money to promote to customers who are not profitable, your average profit per order will rise. Seems “common sense,” but if you look at your marketing you’ll see you’re wasting a lot of money! Plus, every cent you save in those promotion costs goes straight to your bottom line. So explains newContinue reading “Should you “fire” some customers?”
Move your price up to a barrier
By moving your price from, say, $95 to $99 (just under the $100 barrier), you’ve added $4 of pure profit with a good chance of not losing a single customer. So says new book 47 Ways to Raise Prices …Without Losing Customers! by Dr. Marlene Jensen. #pricing #raiseprices #entrepreneurship
Product Changes That Allow Price Increases
Need to raise prices? Consider upgrading the look of your website and/or store. Research shows customers are willing to pay more when the look of the establishment is higher end. Details on this and eight other product-change tactics can be found in new book: 47 Ways to Raise Prices …without losing customers. #raiseprices #increaseprofits #pricingpsychologyContinue reading “Product Changes That Allow Price Increases”