One way to make people no longer want to purchase the products and services that you're selling is to ask them to pay too much money for either one. At the same time, if you fail to ask for too much information, those same people could get the impression that your products and services are of poor quality.

Here are three different ways in which you can effectively price products and services.

*Set a price that's more value-based, which involves you needing to know your market rather well. This means that while one product may cost a particular price, you could choose to increase the cost to another amount if the market value allows it.

*Always know your market itself. This means you should take the time to determine how much money customers will pay, as well as how much money your competitors charge. From there, you can make a decision regarding whether you want to match those prices or beat them.

*Work out all costs, including direct ones that also include money spent on developing your products and services. From there, calculate all variable costs, as the more you sell or make, the higher those costs will be. Then, begin working out what specific percentage of your fixed costs will need to be covered by what you offer.

Positioning your business workshop

Date: June 27, 2018, 10:00am

Location: SCORE
Westland Office Park, Building M (at the rear)
5524 Bee Cave Road
Austin, TX, 78746

Do you know where your business fits in the competitive landscape? After using available tools to assess your position, you can draft positioning statement that will help you manage your sales approach.


Three ways to price your product