Full access to Entrepreneur for $5

Making Smart Pricing Decisions

Strike a perfect balance when setting your prices to make a higher profit.

This story appears in the December 1996 issue of Business Start-Ups magazine.

It's a question that's critical to your start-up process and a factor that will always be an issue in your operation: How much should you charge for your products or services? The dynamics of today's business environment--fluctuating costs, value-conscious customers, and strong competition--make the pricing decision more challenging than ever.

The consequences of a poor pricing strategy are obvious: Pricing too high may limit your sales, while pricing too low may limit your profits.

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!