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Are You Making these 5 Pricing Mistakes in Your Marketing? | JustPositionIt!

Are You Making these 5 Pricing Mistakes in Your Marketing?

Pricing is just as much a marketing consideration as the colors in your brand. Price is a perception of value—period.

Let’s look at a few pricing mistakes below.

Pricing Mistake #1. Thinking price is the customer’s most important buying factor.

Ok, pricing IS important, but it’s by no means the most important factor. Not by a long shot. If you’re giving people what they need and want, and are making them feel good by way of offering them intrinsic value such as:

  • convenience
  • time-savings
  • self-improvement
  • love
  • fame

—then you’ve already won the war. There are many other ways to make customers feel good besides what’s listed above. But you get the picture.

Pricing Mistake #2. Thinking you have to match or underprice in a competitive market.

We all may think our products and services are commodities, but there are ALWAYS ways to differentiate and charge higher prices. Refer to the list above in point #3. How are they differentiating?

There’s hundreds of ways you can differentiate.

A few examples are:

  • Offering a niche service
  • Offering speedy service
  • Being the only one to offer something
  • Having unique branding
  • Entertaining people

The list can go on.

Read complete article here:

Are You Making these 5 Pricing Mistakes in Your Marketing? – JustPositionIt!.

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