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    The Perfect Price
    The Perfect Price
    The Perfect Price
    Ebook39 pages31 minutes

    The Perfect Price

    By MENTES LIBRES

    ()

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    About this ebook

    THE PERFECT PRICE


    Tactics and Strategies to set the perfect price on your products and services!


    Setting a price for your product or service, especially when you are trying to sell on the Internet, may be the most crucial business decision.

     

    Setting a price is not as simple as it might seem. If you're looking to make a profit, your price should be higher than your cost, but it should be lower than the "price the market can bear," the price your customers expect to pay for your service. You should keep this in mind when pricing your products.


    In this book you will find effective strategies and tactics for your product or service!

    LanguageEnglish
    PublisherMENTES LIBRES
    Release dateFeb 11, 2021
    ISBN9781393652021
    The Perfect Price
    Author

    MENTES LIBRES

    MENTES LIBRES is a space created in 2019 to promote financial education, motivation and personal development of its readers. We want our public to be educated and acquire the necessary tools to strengthen their minds and their entrepreneurial spirit, along with the ability to give them the necessary confidence so that they can achieve everything they set out to do. For this purpose, MENTES LIBRES created dozens of books that have a warmth in their readings, with the aim of nourishing their intellect and making them feel accompanied in the process towards a life of abundance.

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      Book preview

      The Perfect Price - MENTES LIBRES

      THE PERFECT

      PRICE

      INDEX

      Prices: all you need to know

      Working with price-sensitive buyers

      The winning price

      Prices according to product type

      Profit-enhancing pricing strategies

      Skimming as a pricing strategy

      Is the psychological price an effective strategy?

      Market Penetration Prices

      Promotional prices

      Competitive price

      Offer discounts as part of your pricing strategy

      Alternative pricing strategies

      Most attractive offers

      Price based on value

      How do you know if your price is right?

      Prices: all you need to know

      ––––––––

      If you are trying to sell something on the Internet, pricing your services/products would be the most important decision you will make. Since the Internet offers thousands of alternatives to customers, you must keep up with the competition. Prices will determine how long you can stay in the market.

      You need to get a clear idea about prices. How far can you push it? How often do you need to review prices? A lot will depend on how you handle this stage of the business.

      To start, you must identify a group of consumers and then estimate how much they would be willing to pay for your services or products.

      But in addition to that, you must also make sure you get some benefit for yourself. And very often these two demands can be in conflict with each other. Different people use different techniques to price their products. Some of them have a scientific basis and others do not. Below is one such procedure that works with an understanding of the cost of production, customer expectations, and other actors in the field.

      Cost is defined as the total sum of the expenses incurred in making a product. Expenses include the cost of raw materials, machinery, packaging, delivery, etc. Price is the amount customers must pay per unit of their product/service.

      In order for you to make a profit, the price must be more than the cost. Your prices should be consistently higher than cost if you plan to run your business for a long time, except in special cases. Sometimes you

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