Small
business marketing doesn't need to be difficult especially
when you CAN dramatically increase sales and profits with some
tried and proven small business solutions.
How you increase sales and profits depends
to a large extent on how you price your product or service.
It is all about harnessing the power of price and perception.
Small
Business Marketing Wisdom Says:
People don't always buy based on the lowest
price, but they do like to feel they're getting a good deal.
Small
Business Solution:
Aim to give your customers value for their
money. Your asking PRICE should represent the VALUE customers
place on your product or service. If the price asked for doesn't
"feel right", in relation to the value delivered,
customers are not going to buy.
Small
Business Marketing Wisdom Says:
If the customer thinks that what you are offering
them isn't worth much, then how can you ever hope to charge
a high price or to increase sales and profits?
You can't!
Small
Business Solution:
The key is to communicate the VALUE message
in all your small business marketing. And, you must communicate
it so strongly that the price seems reasonable in relation to
the product or service you're offering.
Small
Business Marketing Wisdom Says:
What matters is your pricing policy and how
you communicate price to your potential market. Should you offer
a discount? Should you feature the price boldly in all small
business marketing? Should you introduce the price early in
the marketing offer? These are important questions because without
realizing... you may be educating your customers to give price
their primary consideration. That may not be your intention,
but like it or not, that's what often happens.
The customer becomes price sensitive and then...
SURPRISE! SURPRISE! ... A competitor comes along with an even
lower price and you lose a customer. Perception is everything!
Small
Business Marketing Wisdom Says:
By focusing small business marketing too much
on price, you set up an expectation of a lack of quality in
the customers mind. By focusing too much on price, you can create
the impression that your service might be suspect.
Small
Business Marketing Wisdom Says:
It doesn't matter what you charge. It is the
customers' perception of your price that matters. If the customer
thinks the price is too high in relation to the value delivered
for the product or service, then they won't buy. If they think
the price is too low, then again they might not buy - because,
they may be suspicious of the quality in relation to the price.
The price may not "feel right."
Small
Business Marketing Wisdom Says:
A customer perception of what is a 'reasonable
price' is more important than what you want to charge for your
product or service. And the customer decides what's reasonable
based on perceived value for money, not price. It's creating
this perception of value that tells the customer the price is
right.
Small
Business Solution:
Use small business marketing to communicate
VALUE! Do it so strongly... that the price seems reasonable
in relation to the product or service you're offering.
Noel Peebles is author of the best-selling
small business
ebook "Sell
Your Business The Easy Way"
© Market Leaders ebooks. All Rights Reserved.
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