Can you guesstimate the perfect price for your market?

October 7th, 2016 Posted by Uncategorized 0 comments on “Can you guesstimate the perfect price for your market?”

What is the perfect price for a product or service? Simply put, there is none.

Why? Each customer has unique needs and a unique budget and therefore values every product or service differently. What may strike one customer as a terrific bargain could be prohibitively expensive for another. Your ability to meet all the criteria of a very demanding prospect may not have the same impact on a client with less demanding requirements.

There is zero chance of finding the single right price prior to sale. However, and here’s the good news…that doesn’t matter. Prices aren’t set in stone and can be modified over time as needed. Creating different pricing options for different versions of your products and services allows you to serve a broader spectrum of customers delivering what they need at prices they are willing to pay.

Creating multiple options at different price points gives you a wider range of profitable customers because you’re not over-servicing them relative to the price they pay. Ideally, your offerings along the scale should be priced in a way that reflects the value you provide.

Need help designing and laying out your offerings? Our designers can help you create marketing material that communicates your offerings clearly. Call me at 615-893-4290 today! Or email me at Kevin@Wax.news.com.

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