Speaker, writer, coach and consultant
Mark Stiving, PhD, MBA, is a recognized pricing expert with has more than 20 years' experience in helping businesses boost revenue and profit. He is also an instructor at Pragmatic Marketing. Mark is the author of
Impact Pricing: Your Blueprint for Driving Profits, from Entrepreneur Press.
Every entrepreneur -- whatever his or her business -- needs to understand the essentials of how customers decide what is worth what.
Consider these ways to increase earnings margins by experimenting with your line-up.
Starting a Business
Before you establish a pricing strategy, understand the concepts behind ideas like neutral, penetration, skimming and value-based pricing.
Consumers ask two questions before purchasing a product or service. Their answers should factor into your pricing strategy. Here's how.
Before you figure out your pricing, figure out your business.
Companies don't win a price war. They survive it. Strategize ahead of time how you will respond to competitor price changes.
Before you put a price tag on a product or service, find out how much customers value it.
Before you decide to price your products lower than the competition, let us talk you out of it.
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© 2017 Entrepreneur Media, Inc.