WE'VE MOVED!
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
Options
How to price a product
Jyoti
subscriber Posts: 3
Hi all,
Can someone recommend a good book / audio book on pricing strategies. I know price of a product is not just determined by cost + profit margin. There is a lot more study that goes to understand the customers. I am looking for direction to understand these tactics. Regards,Jyoti Ramnathwww.CraftMyGift.comIndia
Can someone recommend a good book / audio book on pricing strategies. I know price of a product is not just determined by cost + profit margin. There is a lot more study that goes to understand the customers. I am looking for direction to understand these tactics. Regards,Jyoti Ramnathwww.CraftMyGift.comIndia
Sign In or Register to comment.
Comments
Other methods include interviewing customers to determine how much value they derive from your product, then assigning a hard price to that value. Another popular approach is to benchmark product against those of your competitors, and base your price on theirs while adjusting for any additional value your product offers.
My ebook describes pricing strategies for small businesses in greater detail if you`re interested in specific tactics you could employ.
We have few competitors in this area & we are priced quite low compared to them. But in terms of value I am sure we are providing equal or sometimes more value to the customers. Thats why I felt we have to really evaluate & see if we are doing the right pricing.
Digging through some old posts, I saw reference to the book "Strategies & Tacktics of Pricing" by Thomas Nagle. I am thinking of reading through that book too.
4Founders, I`ll go through your E-book too.
Will post my learnings here.
- Jyoti
Founder, CEO
www.CraftMyGift.com
India