Some Great Pricing Tips

Here’s one of the best articles I have read on pricing strategies to consider in this economy.  I really liked the quick definitions/examples of Cost Plus Pricing, Market- Based Pricing, and Value Pricing.  Many of our most successful customers create packages of high-end products thereby using Value Pricing to protect their margins and still provide value to their customers.  What strategy works for you?

Bill

Comments

[Ted Hurlbut]

From my work consulting with independent retailers, the most successful approach is to build your value proposition around attributes other than price. Value propositions built around a highly personalized customer experience, exceptional quality and unique and compelling assortments create a level of customer loyalty that greatly reduces price considerations.