Getting Your Pricing Right
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  Date: 01/05/2011 As buyers become more sophisticated, think carefully about your pricing strategy. Segment your customer base and - above all - avoid the "cost plus" mark-up trap. A "one size fits all" approach won't serve you well when it comes to pricing, and sustained discounting isn't the answer either. Ron Wood, director of specialist consultancy Pricing Insight, says a successful pricing strategy will be based on segmenting your customer base to develop appropriate pricing for each group, then equipping your sales force to understand the value your products offer. Avoid "cost plus" pricing at all costs - you'll either underprice and lose margin or overprice and lose sales. Topics: Business Growth, Customer Service, Marketing & Sales |
 Ron Wood, Pricing Insight |