Pricing Strategies for Small Business (101 for Small Business)

Pricing a product or service can make or break a small business. It's essential to use a good pricing strategy to ensure the products or services are appealing to customers and to ensure that the company is profitable. It's not always as simple as the lowest price wins. Pricing Strategies for Small Business covers the many different pricing strategies and helps readers to determine which methods are best for their small businesses. An optimal pricing strategy will depend on more than just the business costs. Forces within a business environment such as competitors, suppliers, availability of substitute products, and customers? disposable income all come into play. The book shows readers step by step how to choose the right prices for their products and services, and covers the following topics: Psychological pricing; Price skimming; Penetration pricing; Cost plus markup; and Multiple unit pricing.