cheap hollister coats for women sale How To Determine The Price Of Your Product Or Service

Without a price you have no income, with the wrong price you also will find your business wanting but get your pricing strategy right from the start and you will reap the benefits. So, here we pose the question. Pricing - at what cost?We often talk, you and me, about brainstorming or putting your thoughts and plans down on paper and this time is no exception.You have to ask yourself a number of questions and then underneath right down your answer.Q1: Do I have an exclusive productA: Yes - I can charge a premium priceA: No - I have to price within market constraintsQ2: What is my competition and what is their pricing strategy?A: I have stiff competition and need to be priced to competeA: I do not have much (if any) competition and can therefore price accordinglyQ3: Do I have a basic product/ service package that I can add extra value/ product/ service to?A: Yes - then I can charge an initial low price with add on packages priced accordinglyQ4: Can I sell my product or service under someone else's bannerA: No - then this is an 'own brand' and I can price accordinglyA: Yes - then I have to price knowing that there will be two margins in the final selling priceQ5: Do I have specific pricing consideration based on geographical location?A: Yes - then I can possibly price higher where I have a geographical advantage i.e sole trader in this business in a specific areaA: No - then I have to price on a level playing fieldQ6: Can I upsell my product or service?A: Yes- then I can start with an introductory price and increase this for bigger (better) product or serviceA: No - then it's a uniform pricing structure I have to adoptQ7: Is time a consideration,cheap hollister coats for women sale?A: Yes - then I can take advantage of a short term price hike (or conversely) reduction in low periods)A: No - prices same for all year roundQ8: Can I 'package' my services or products?A: Yes - then I can think along the lines of BOGOF style activity,discount hollister womens jeans outlet. If working in a date sensitive environment or out of season goods then I can include this in with current productA: No - then a basic pricing strategy appliesQ9: Can I apply marketing activity to my pricing policy?A: Yes - then I can have Special Offers, Sales etcA: No - think again, it's a rare business that cannot apply marketing promotionsQ10: Do I have a product or service rangeA: Yes - Then I can price on a sliding scaleA: No - A single pricing policyQ11: Do I have a seasonal product?A: Yes - clearly I can charge more when it's in seasonA: No - then I must have an annual pricing structureQ12: How important is a final asking price to the nearest pennyA: Psychologically a 99p product attracts more than a £1 one so I should allow for thisA Word From The Wise: Do not rush into pricing your product(s) or service(s). Take the necessary time - complete the Qs stipulated above - look to the market, the competition,hollister jack wills outlet. In addition to the Qs above decide whether you are high price, low volume or low price,hollister jack wills mens hoodies, high volume. And then adopt your pricing strategy. Finally, remember that it is easier to discount a higher price than it is to increase a low one,hollister womens clothes.