Pricing Tips

Thanks to frequent reader and contributor Phil Engeman of Phil’s Sewing Machines in Washington, MO for pointing out an interesting site.  It’s called Pricing for Profit

On the site you’ll find a number of articles on the always-difficult subject of pricing.  One that you may like is called "Pricing for Profits and Growth–It’s as Easy as Early Bird, Regular, and Chef’s Table".  In it, writer Rafi Mohammed examines the pricing strategies of a high-end restaurant.  As you can tell from the title, "early birds" pay one price, "regular customers" pay a higher price, and "Chef’s Table" customers pay the highest price of all.  Rafi’s lesson here is that you can price your offering based on the perceived value to the customer, regardless of your cost.

Another article of interest is "4 Pricing Strategies to Prosper in a Recessionary Environment."  The title is self-explanatory.

Finally, there’s a timely post today on the subject of rose pricing during Valentine’s week.  You may be surprised to learn that your neighborhood florist isn’t getting rich selling the flowers for three times the normal price to desperate husbands. 

Like many web sites, this one’s purpose is to introduce you to the author’s consulting service, and there’s nothing wrong with that.  But there’s some good information here with no login requirement, so you might as well check it out.

For more on pricing, be sure to check out the "pricing" category on MYOB.  The link is on your left.

P.S.  If you haven’t done it already, you’d better get your Valentine’s Day shopping done real soon.

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