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Steal These Tips On The Power of Effective Pricing | Inc.

Until you decide what kind of company you are, you can’t develop an effective pricing strategy. Product-oriented companies can command premium prices because they deliver truly distinctive goods and services. Customer-centric companiesa la have to be middle-of-the pack in their pricing, though they can command a degree of a premium based on outstanding service. Companies grounded in operational efficiency present a value-based model, and so must price themselves below the midpoint.

What are you? You can be some of all three. But you have to major on one.

Whatever type of company you decide you are–and the appropriate price points you adopt–be wary of the so-called la carte model. What’s that? Think of the menu at The Cheesecake Factory: pages and pages of every variety and ethnic flavor of every appetizer, salad, entre and dessert you can think of. This is not a knock on their food. But it is a bit overwhelming when it comes time to order.

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Steal These Tips On The Power of Effective Pricing.

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