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Casual Articles - What Kind of Pricing is Best for Your Market?
Are you looking to outsource your sales lead management? Do you need a sales lead management service that understands the importance of properly managing, developing, identifying and distributing qualified sales leads to your direct salespeople, dealers, reps or distributors?If you answered yes, then you’ll need the following 8 tips for selecting a sales lead management service:1. Determin
But it is possible to carry this rule too far.
In some online niches, like Internet marketing, this concept has been stretched so thin there are some fluff-laden infoproducts selling at ridiculous multiples of the price of other comparable products. This is fuelled by high-pressure salesmanship and powerful copywriti
Let's look at what makes a retailer profits.It's just a few main things... 1. Number of stock turns in a year 2. Gross Margin or pricing strategy 3. How many staff you have working relative to turnover 4. Rent proportional to turnover or revenue 5. Conversion rate of walk in traffic to purchasesLet's investigate all 5.Stock turns per year, from years of working with ret
But despite all the research and data, there still is no surefire way to assess the best price for an information product you are about to launch. Deciding upon your sale price is an equal mix of calculated guesswork, inspired thinking and sheer luck.
Pricing is determined by what the market will bear. If other products and services of a comparable nature to what you offer are selling well at a particular price point, then your product too will very likely fit in at that level.
Pricing is also limited by 'channel'. Ebooks, for example, fetch an upper price limit of $100 even in the hypey Internet marketing field, while the same content presented as an 'audio course' will easily sell at $197, probably a lot higher.
And books sold in physical printed form in an offline bookstore would be hard to sell at $97 or higher - while ebooks are sold on the Internet at this price quite routinely!
Another component is what Dan Kennedy calls "selling cash at a discount". If I have a 2-page report that shows you how to make an extra $500, and price it at $250, I am giving buyers a GREAT deal. That's because they can use the information to double their investment in buying it.
But it is possible to carry this rule too far.
In some online niches, like Internet marketing, this concept has been stretched so thin there are some fluff-laden infoproducts selling at ridiculous multiples of the price of other comparable products. This is fuelled by high-pressure salesmanship and powerful copywritin
Teams don’t have to be aligned with the goals of the organization. Teams can work on what they believe to be the right things. They can work diligently on creating the results they think matter. They can be completely committed to success from their perspective.A non-aligned team could enjoy each other and their work. They could accomplish much, and all of that could be completely counter to wha
Pricing is determined by what the market will bear. If other products and services of a comparable nature to what you offer are selling well at a particular price point, then your product too will very likely fit in at that level.
Pricing is also limited by 'channel'. Ebooks, for example, fetch an upper price limit of $100 even in the hypey Internet marketing field, while the same content presented as an 'audio course' will easily sell at $197, probably a lot higher.
And books sold in physical printed form in an offline bookstore would be hard to sell at $97 or higher - while ebooks are sold on the Internet at this price quite routinely!
Another component is what Dan Kennedy calls "selling cash at a discount". If I have a 2-page report that shows you how to make an extra $500, and price it at $250, I am giving buyers a GREAT deal. That's because they can use the information to double their investment in buying it.
But it is possible to carry this rule too far.
In some online niches, like Internet marketing, this concept has been stretched so thin there are some fluff-laden infoproducts selling at ridiculous multiples of the price of other comparable products. This is fuelled by high-pressure salesmanship and powerful copywriti
Call centers are created by organizations to receive inbound calls for varied day-to-day business reasons. Since companies invest tremendous amounts of money into customer- care relationships, they carefully monitor customer perceptions of their efforts to serve them. There’s a growing awareness in the business community that customers are unhappy dealing with computerized message delivery systems.
Pricing is also limited by 'channel'. Ebooks, for example, fetch an upper price limit of $100 even in the hypey Internet marketing field, while the same content presented as an 'audio course' will easily sell at $197, probably a lot higher.
And books sold in physical printed form in an offline bookstore would be hard to sell at $97 or higher - while ebooks are sold on the Internet at this price quite routinely!
Another component is what Dan Kennedy calls "selling cash at a discount". If I have a 2-page report that shows you how to make an extra $500, and price it at $250, I am giving buyers a GREAT deal. That's because they can use the information to double their investment in buying it.
But it is possible to carry this rule too far.
In some online niches, like Internet marketing, this concept has been stretched so thin there are some fluff-laden infoproducts selling at ridiculous multiples of the price of other comparable products. This is fuelled by high-pressure salesmanship and powerful copywriti
One always expects to really splurge on premium products and services. After all, high-quality products don’t come by easily and come cheap. Like genuine articles, these things come at a hefty price tag for every little detail is crafted out of craftsmanship.There will always be the equivalent of a Ferrari for every product or service. Printing is no exception. But printing does not necessarily mean
Another component is what Dan Kennedy calls "selling cash at a discount". If I have a 2-page report that shows you how to make an extra $500, and price it at $250, I am giving buyers a GREAT deal. That's because they can use the information to double their investment in buying it.
But it is possible to carry this rule too far.
In some online niches, like Internet marketing, this concept has been stretched so thin there are some fluff-laden infoproducts selling at ridiculous multiples of the price of other comparable products. This is fuelled by high-pressure salesmanship and powerful copywriti
A wise and dear mentor once said to me "Given enough information your intuitive sense will be validated." Intuition some suggest comes from our gut brain as described by Dr. Hawkins in his book Get Out Of Your Own Way or by others as an unknown sense that has always been with us.Whatever the source, intuition is the gut brain for business. For example, have you ever met a poten
But it is possible to carry this rule too far.
In some online niches, like Internet marketing, this concept has been stretched so thin there are some fluff-laden infoproducts selling at ridiculous multiples of the price of other comparable products. This is fuelled by high-pressure salesmanship and powerful copywriting. It is very likely a backlash will soon follow, condemning such practices and forcing vendors to drive pricing down to the level where value is higher.
A unique market segment is the BOP (bottom of pyramid) marketplace. This is a market of 4 BILLION prospects living on less than $1 a day. You could have the world's very best info priced at $5 and they will NOT buy - because they cannot afford it.
At this point, the only formula that works in this market is:
PRICE = PROFIT + COST
You figure out your price first (say, $1 for a book), then decide how much profit you want (say, $0.25) - and then go about creating the product and distributing it at LESS than $0.75
Tough? You bet. Profitable? I wouldn't have believed it, until I heard Dr.Prahalad's lecture and saw some multi-MILLION dollar companies featured that followed the model. For more detail on the BOP model, you can read the BOP manifesto at http://www.bopinternetmarketing.com
If anything is obvious from the discussion above, it is that pricing is guesswork - and testing. Start out by testing a particular price. See how sales take off. Then try different price points. Track response. Analyze results. Stick with the price that performs best in the market.
But always keep in mind the fact that loyal clients will follow you for a long time if you focus on providing greater value than may be reasonably expected for the pr
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