Subscribe to Entrepreneur for $5
Subscribe

Price Your Products Right

The rewards are many for retailers who offer their product selection at a variety of price points.

Opinions expressed by Entrepreneur contributors are their own.

The wider your price range, the more customers you'llattract. Lower-priced items can be good way to introduce newcustomers to your product. Then, as their incomes grow, so willtheir purchases. Note, too, that a higher price often gives theimpression that something is more valuable and therefore moredesirable, so don't under price by default. There are certainkey price points in every merchandise line. Be sensitive to yourindustry--and your customer.

Excerpted from 303 Marketing Tips: Guaranteed To Boost YourBusiness

Entrepreneur Editors' Picks