how to price products

Pricing Pitfall #3: Going Above Retail Price Ceilings

February 19, 2011

Going Above Retail Price Ceilings: Not Understanding What the Market Will Bear   Pricing is subjective – there is no question about it. It's based on perceived value. Add a little doodad or a designer logo and tada the price goes up and no one really cares because they see the value. However, for certain […]

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Pricing Pitfall #2: Miscalculating Labor Costs

February 13, 2011

  Miscalculating Labor Costs or Charging Too Little or Nothing for Your Own Labor:   If you have a small manufacturing business or cottage industry, a huge miscalculation I see all too often is miscalculating labor costs or forgetting to pay yourself what you would have to pay someone else and factor this into your […]

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Under Pricing Your Product or Service is Risky Business

January 21, 2011

  One of the mistakes that novices to the industry make is they under price their products with the mistaken idea that if their goods are less expensive, then they will be more desirable.  This is not true – in fact this is harmful to your sales and your company image (branding).   When prices […]

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