Guide Info Archives

3 stradegies about how to price your product

Example

Conclusion: if your product is better because

1.) have been painted. Your product is unique. Your product is original...
http://www.entrepreneur.com/encyclopedia/unique-selling-proposition-usp

2.) location: the futher you are from the imported place  the most price you can get...for your product . Exemple Houston, the beach Galveston or the nore of United States

3.) your product has a character is indiviual well made
http://en.wikipedia.org/wiki/Character_theory

.

These are some of the reasons why your product has more value
and you are getting more for your money...www.Westwoodpavillion.com

see products  http://westwoodpavillion.com/sales-value/
http://westwoodpavillion.com/catalog-recycled-metal-art-page-2/
http://westwoodpavillion.com/catalog-recycled-metal-art-page-3/

These are just few  of the products  we carry....

 

1.) Stradegies about how to price your product

http://www.wikihow.com/Price-Your-Product

Using an effective pricing strategy can be the difference between a hopping business and a dud. You've already done the work to come up with a killer product and an unforgettable hook for your business, so now you just need to price it accordingly. Learn to determine your overhead, raise and lower appropriately, and use promotional pricing to your advantage, and you'll be in the black in no time. See Step 1 for more information.

 
Steps

Part 1 of 3: Determining Overhead

  1. Price Your Product Step 1 Version 2.jpg
    1
    Calculate the cost of running your business. A basic pricing method requires that you determine the full cost of running your business and price your product in such a way as to keep your business in the black. So, the first thing you need to do is calculate how much it costs to run your business. Add up your:

     

     

     

     

    Labor costs

    • Marketing costs
    • Manufacturing costs (cost of raw materials, equipment, etc.)
    • Operating expenses (including rent on your building, utilities, etc.)
    • Debt service costs
    • Return on any investment capital
    • Your own salary
     
  2. Price Your Product Step 2 Version 2.jpg
    2
    Set a "success point." The only reason to start a business is to make money, and specifically to make enough money to keep the venture a successful enterprise. For this reason, you need to set a point at which you would consider the business successful, your success point, and add that figure to your expenses to determine how much revenue you need to generate from sales.

     

     

     

     

    Once you know how much money you need to make for the business to be successful, then you can start getting some sense of what a successful price would be for your product.

     

     

     

     
  3. Price Your Product Step 3 Version 2.jpg
    3
    Anticipate your customer's desires. Another major figure you need to determine is how much merchandise you might reliably sell in a given period. Identify your customer base and their buying tendencies. How much do they desire your particular product? Is there a demand for it? Be as specific as possible in your discussion of numbers. How much is it possible to sell, given your current resources? How much do you need to sell to maintain the visibility and success of your current model? What might need to be changed?

     

     

     

     

    Divide your success point by the number of units you think might be reliably sold to determine a price guideline, per unit. This isn't necessarily to say that this should be the price, but this is a good number to start experimenting with and seeing how your customers will respond.

     

     

     

     
  4. Price Your Product Step 4 Version 2.jpg
    4
    Study your competition. If you sell custom-made iPhone cases, are there other companies that provide similar services? Where? How much do their products cost? How is their company run? You need to learn everything you can about your competition so you can learn to differentiate yourself from their model to get your share of the common market.[1]

     

     

     

     

    Say you're one of two frozen yoghurt stands in your town, and you can't figure out why your $7 a cup (cheap for the ingredients!) organic coconut rosemary kefir isn't bringing in the masses, while the "Tastee Freeze" across town sells regular chocolate cones like it's going out of style. You need to be familiar with their prices and their customer base so you can stay competitive and stay relevant. Do you share the same customer base? Is there another customer base you might tap into and market to, to make your business more viable? Is anyone ever going to be willing to pay your prices? These are important questions for a successful business to consider when pricing.

     

     

     

     
Part 2 of 3: Raising and Lowering Prices
  1. Price Your Product Step 5 Version 2.jpg
    1
    Understand the effects of over and under pricing. Setting the price inefficiently will have marked and measurable effects on your numbers, and you need to learn to recognize the symptoms of having either a low or high price point and knowing that you need to make a change.

     

     

     

     

    • Underpricing is often done by companies who want to sell a higher volume, expecting that the customer will assume they're getting a deal, especially in a down economy. Doing this, however, can give the impression that the product is "cheap," not that they're getting their money's worth.
    • Overpricing may drive your customers elsewhere. Especially when you're trying to get your feet on the ground as your business gets started, it can be tempting to set the price too high. The investment of starting a business can be scary and you'll probably want to start covering costs right away, but consider the customer's point of view. Setting it at a point you'll make money will only work if people are willing to pay for it.
     
  2. Price Your Product Step 6 Version 2.jpg
    2
    Keep a close eye on your pricing and your budget. Monitor your profits and prices at least monthly. Break down every product so that you know how each contributes to your overall profitability month-to-month.

     

     

     

     

    • Talk to your customers and listen to their feedback. Take it to heart. If they enjoy your product but complain about the price, you might consider making a change.
    • Develop a budget plan. Try to focus on a long term strategy that will result in making the business profitable. This might not involve making drastic changes right away, but slowly moving toward an overall goal of profitability.
     
  3. Price Your Product Step 7 Version 2.jpg
    3
    Raise prices slowly and incrementally. Jumping from selling an iPhone case for $5 to selling one for $12 will undoubtedly lose you customers, even if the price change is right for the business and a smart move. Instead, raise it incrementally and spend time advertising the product's benefits and advantages, as opposed to apologizing for the increase. Treat it as a benefit, rather than an inconvenience.[2]

     

     

     

     

    • Sudden increases will look like desperate moves made by a struggling business, which may or may not be true. You want to avoid the impression that you're raising the prices because you need to make more money. Rather, you need to make it seem as if you're raising prices because the product is just that good.[3]
    • Watch your sales volume immediately after making the change. If the move was too sudden, you'll see a negative change, suggesting that you need to do more to sell the new variation on the product and justify its price.
     
  4. Price Your Product Step 8 Version 2.jpg
    4
    Use promotions to lower prices and get people in the store. Unless your competition is lowering their price, or you're just not getting the kind of traffic in your business that you need to make it profitable, you generally want to avoid lowering the price. Lowering the price suggests another kind of desperation--that people are avoiding your store--something that you really want to avoid.

     

     

     

     

    Use discount tactics and promotions rather than lowering the price all at once, or by altering the amount that someone gets for the same price. This was commonly done by candy bar companies in the mid-2000s, making the size per unit smaller but keeping the unit price the same.

     

     

     

    art 3 of 3: Using Promotional Pricing Strategies
  1. 1
    Use creative promotions to get people in the door. Pricing to promote a product is a very common application, giving the consumer the impression that your business is a place to go to get deals, even if you're not always giving them deals.

     

     

     

     

     

     

    • Use a Buy One, Get One Free promotion to get people interested in your product and ensure that they'll be struck by the deals they're getting. If you can keep them coming back, even when you're not holding promotions, they'll be hooked.
    • Often sellers will bundle several products in the same package, moving old or unwanted stock by creating killer deals. Dated DVDs, CDs, and video games are often sold using the bundle approach.
     
  2. Price Your Product Step 10 Version 2.jpg
    2
    Appeal to your customer's emotions and rationality. A common business strategy involves pricing items in .99 cent increments, rather than dollar increments. At a glance, the difference in savings seems huge (even though it's non-existent, practically). Pricing judiciously will help you keep sales high without changing your strategy considerably.

     

     

     

     

     

    • Consider creating a "Premium" package to up-sell customers on moderately "improved" versions of the basically the same product, but with more sophistication (i.e., more marketing).
    • Consider establishing a "line" of products, with varying levels at which the customer can engage. Car washes will often use this pricing strategy: A basic wash could be $2, wash and wax $4, and the whole package $6.
     
  3. Price Your Product Step 11 Version 2.jpg
    3
    Try up-sell promotions to move more merchandise. In Optional Product pricing, companies will attempt to increase the amount customers spend once they start to buy. Optional 'extras' increase the overall price of the product or service. For example, airlines will charge for optional extras such as guaranteeing a window seat or reserving a row of seats next to each other.
     
  4. Price Your Product Step 12 Version 2.jpg
    4
    Avoid the appearance of price gouging. Gouging involves raising your product to a high price because you have a substantial competitive advantage of some kind, or a corner of the market. This advantage is not sustainable. The high price tends to attract new competitors into the market, and the price inevitably falls due to increased supply.

     

     

     

     

     

     

    • Captive Product Pricing is used when products have complements. Companies will charge a premium price where the consumer is captured. For example, a razor manufacturer will charge a low price and recoup its margin (and more) from the sale of the only design of blades which fit the razor.
     
     
http://www.wikihow.com/Price-Your-Product

 

 

 

 

2.) Another stradegy to how to price your product

https://blog.etsy.com/en/2012/a-simple-formula-for-pricing-your-work/

 

The Etsy Blog

A Simple Formula for Pricing Your Work

Etsy.com handmade and vintage goods

Imagine this: a beautiful jewelry studio, a soldering station, an anvil on a nice old worn wooden stump, a handmade jewelry bench, and on top of all this lie piles of finished pieces. Behind the bench sits a jeweler who has yet to sell a single one of her creations. What’s holding this talented artisan back? From my years of listening to your stories, putting a price on your work is one of the most intimidating first steps to selling, and delays many from opening their shop. I’m here to share my favorite pricing formula with you, and to break it down so you have the confidence to get out there and sell!

Know the Formula

Here’s my favorite formula:

Materials + Labor + Expenses + Profit = Wholesale x 2 = Retail

I picked this up from the amazing Megan Auman. What I love about this formula is that your profit is properly accounted for!

Now let’s go through every part of this formula and break it down.

Materials

Make sure to cover all your material fees. Often forgotten: the little things like the cost of thread, and the bigger things like the cost of packaging. If you’re going to “guesstimate,” err on the higher side!

Labor

If someone wanted to hire you and they offered you $7 an hour, what would you think of that deal? Be a good boss to yourself and do a bit of research. How much does a seamstress make in San Francisco? Find out! (Also remember, you’re probably more than a seamstress – you are the designer, the marketing department, the accountant, the janitor, and the administrative assistant, too.)

Expenses

Bubble wrap, that ebook  purchased at 3 a.m., studio rent, bus passes required to make it to the studio every day, a new scale for your shipping station. How the heck can you fit all these things into the price of a single item?


Here’s a  way to do that:

  1. Jot down every expense you can think of — for example, include your Etsy fees, office supplies, rent or utilities.
  2. Next, come up with the number of items you’d like to sell a month. Divide that number into the total expenses.

Tip: Start doing two things to help you come up with an even more exact price:

  1. Track your expenses carefully so you can come back to this as you learn more about selling! I suggest trying out Outright – a free online accounting tool.
  2. Start figuring out the big investments. How many items can you get out of that sewing machine? How long will that postage printer last before it needs to be replaced?

Profit

Think hard: where do you want this business to go? Do you want to quit your day job? Do you want to pay off a student loan? Accounting for profit now will help you get there. This number really depends on what you are selling, and will make up for someone like a printmaker, whose material costs are low, labor hours might be low, but should be paid for their unique talent and point of view! I leave this up to you. I’m trusting you here — don’t disappoint me with a low ball number!

Bringing It All Together

All right, this gets us to our wholesale price. Some of you might wonder if you can use the wholesale price in your Etsy shop. Wouldn’t this be a a great way to offer your work at an affordable price? No, no, no. Here’s why I’m going to beg you to double your wholesale price and sell your work at a true retail price:

  1. Selling your work at a wholesale rate undervalues those who price their work at the proper retail price. When the majority of sellers in a category price their work thoughtfully, the entire category benefits.
  2. Customers will wonder, “Why?” Why is your work so much lower than everyone else? Is it because it’s not handmade? Is it because you’re using cheaper materials? Your price tells a story: make that story a good one!
  3. You’re putting yourself at a disadvantage. Let’s say a big catalog reaches out to you and says, “We’d like to buy 100 of these items! Please let us know what your wholesale prices are.” This is a big opportunity; an opportunity you can’t afford to take.

Did you just come up with a price that you are sure the market won’t respond to? Here’s the trick: if the item is priced too high for the market, it’s not the price you need to alter, it’s the design or the way you produce your work. Get creative and see how you can adjust the item to reduce your costs. Can you buy your materials discounted in bulk? Can you produce the work in multiples, reducing the labor? Don’t take the easy way out by slashing your prices.

Remember, the right prices will allow you to reach your small business goals

 

 

3.)  ONe more stradegy about how to price your products

 

 

 

 

http://www.inc.com/guides/price-your-products.html

 

How to Price Your Products
Pricing a product is "probably the toughest thing there is to do," according to an expert. Here's how to tackle it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Advertisement

 

 

 

 

 

 

One of the secrets to business success is pricing your products properly. Price your products correctly and that can enhance how much you sell, creating the foundation for a business that will prosper. Get your pricing strategy wrong and you may create problems that your business may never be able to overcome.

"It's probably the toughest thing there is to do," says Charles Toftoy, associate professor of management science at George Washington University. "It's part art and part science."

There are a variety of different types of pricing strategies in business. However, there's no one surefire, formula-based approach that suits all types of products, businesses, or markets. Pricing your product usually involves considering certain key factors, including pinpointing your target customer, tracking how much competitors are charging, and understanding the relationship between quality and price. The good news is you have a great deal of flexibility in how you set your prices. That's also the bad news.

The following pages will detail how to meet your business goals in pricing products, what factors to consider when pricing, and how to determine whether or raise or lower your prices.

Dig Deeper: How to Profit from Market Research

How to Price Your Products: Meeting Business Goals

Get Clear about Making Money
The first step is to get real clear about what you want to achieve with your pricing strategy: You want to make money. That's why you own a business. Making money means generating enough revenue from selling your products so that you can not only cover your costs, but take a profit and perhaps expand your business.

The biggest mistake many businesses make is to believe that price alone drives sales. Your ability to sell is what drives sales and that means hiring the right sales people and adopting the right sales strategy. "The first thing you have to understand is the selling price is a function of your ability to sell and nothing else," says Lawrence L. Steinmetz, co-author of How to Sell at Margins Higher Than Your Competitors : Winning Every Sale at Full Price, Rate, or Fee (Wiley 2005) and a business consultant in Boulder, Colo. for 40 years. "What's the difference between an $8,000 Rolex and a $40 Seiko watch? The Seiko is a better time piece. It's far more accurate…. The difference is your ability to sell."

At the same time, be aware of the risks that accompany making poor pricing decisions. There are two main pitfalls you can encounter – under pricing and over pricing.

  • Under pricing. Pricing your products for too low a cost can have a disastrous impact on your bottom line, even though business owners often believe this is what they ought to do in a down economy. "Accurately pricing your product is critical at any point in the economic cycle but no more so than in a recession," says Laura Willett, a small business consultant and faculty member in the finance department at Bentley College in Waltham, Mass. "Many businesses mistakenly under price their products attempting to convince the consumer that their product is the least expensive alternative hoping to drive up volume; but more often than not it is simply perceived as 'cheap." Remember that consumers want to feel that they are getting their "moneys worth" and most are unwilling to purchase from a seller they believe to have less value, Willett says. Businesses also need to be very careful that they are fully covering their costs when pricing products. "Reducing prices to the point where you are giving away the product will not be in the firm's best interest long term," Willett says.
  • Over pricing. On the flip side, overpricing a product can be just as detrimental since the buyer is always going to be looking at your competitors pricing, Willett says.  Pricing beyond the customer's desire to pay can also decrease sales. Toftoy says one pitfall is that business people will be tempted to price too high right out of the gate. "They think that they have to cover all the expenses of people who work for them, the lease, etc. and this is what price it takes to do all that," he says. "Put yourself in the customer's shoes. What would be a fair price to you?" He advises taking little surveys of customers with two or three questions on an index-card-sized form, asking them whether the pricing was fair.

Understand Your Other Business Priorities
There are other reasons to go into business. Understand what you want out of your business when pricing your products. Aside from maximizing profits, it may be important for you to maximize market share with your product -- that may help you decrease your costs or it may result in what economists call "network effects," i.e. the value of your product increases as more people use it. (A great example of a product having network effect is Microsoft's Windows operating system. When more people began to use Windows over rival products, more software developers made applications to run on that platform.)

You may also want your product to be known for its quality, rather than just being the cheapest on the market. If so, you may want to price your product higher to reflect the quality. During a downturn, you may have other business priorities, such as sheer survival, so you may want to price your products to recoup enough to keep your company in business.

Dig Deeper: How to Price Business Services

[close X]

 

 

 

 

 

 

 
 

 
Advertisement
Click Here to Learn More

 

 

 

 

 

 

 

 

 

 

 

 

How to Price Your Products: Factors to Consider

"There are many methods available to determine the 'right' price," Willett says. "But successful firms use a combination of tools and know that the key factor to consider is always your customer first. The more you know about your customer, the better you'll be able to provide what they value and the more you'll be able to charge."

Know Your Customer
Undertaking some sort of market research is essential to getting to know your customer, Willett says. This type of research can range from informal surveys of your existing customer base that you send out in e-mail along with promotions to the more extensive and potentially expensive research projects undertaken by third party consulting firms. Market research firms can explore your market and segment your potential customers very granularly -- by demographics, by what they buy, by whether they are price sensitive, etc.. If you don't have a few thousand dollars to spend on market research, you might just look at consumers in terms of a few distinct groups -- the budget sensitive, the convenience centered, and those for whom status makes a difference. Then figure out which segment you're targeting and price accordingly.

Know Your Costs
A fundamental tenet of pricing is that you need to cover your costs and then factor in a profit. That means you have to know how much your product costs. You also have to understand how much you need to mark up the product and how many you need to sell to turn a profit. Remember that the cost of a product is more than the literal cost of the item; it also includes overhead costs. Overhead costs may include fixed costs like rent and variable costs like shipping or stocking fees. You must include these costs in your estimate of the real cost of your product.

"Come up with X first. X is your cost of raw materials, labor, rent, and everything it took to make the product so that if you sold it you would break even," advises Toftoy. "Y becomes what you think you need to make on it. That may depend on your business. Restaurants overall make about 4 percent, which is pretty low. If you want 10 percent then you factor that into your costs and that is what you charge."

Many businesses either don't factor in all their costs and under price or literally factor in all their costs and expect to make a profit with one product and therefore overcharge. A good rule of thumb is to make a spread sheet of all the costs you need to cover every month, which might include the following:

  • Your actual product costs, including labor and the costs of marketing and selling those products.
  • All of the operating expenses necessary to own and operate the business.
  • The costs associated with borrowing money (debt service costs).
  • Your salary as the owner and/or manager of the business.
  • A return on the capital you and any other owners or shareholders have invested.
  • Capital for future expansion and replacement of fixed assets as they age.

List the dollar amount for each on your spreadsheet. The total should give you a good idea of the gross revenues you will need to generate to ensure you cover all those costs.

Know Your Revenue Target
You should also have a revenue target for how much of a profit you want your business to make. Take that revenue target, factor in your costs for producing, marketing, and selling your product and you can come up with a price per product that you want to charge. If you only have one product, this is a simple process. Estimate the number of units of that product you expect to sell over the next year. Then divide your revenue target by the number of units you expect to sell and you have the price at which you need to sell your product in order to achieve your revenue and profit goals.

If you have a number of different products, you need to allocate your overall revenue target by each product. Then do the same calculation to arrive at the price at which you need to sell each product in order to achieve your financial goals.

Know Your Competition
It's also helpful to look at the competition -- after all, your customer most likely will, too. "Are the products offered comparable to yours?  If so, you can use their pricing as an initial gauge," Willett suggests. "Then, look to see whether there is additional value in your product; do you, for example offer additional service with your product or is your good of perceived higher quality?  If so, you may be able to support a higher price.  Be cautious about regional differences and always consider your costs."

It may even be worthwhile to prepare a head-to-head comparison of the price of your product(s) to your competitor's product(s). The key here is to compare net prices, not just the list (or published) price. This information could come from phone calls, secret shopping, published data, etc. Make notes during this process about how your company and products -- and the competition -- are perceived by the market. Be brutally honest in your evaluation.

Know Where the Market Is Headed
Clearly you can't be a soothsayer, but you can keep track of outside factors that will impact the demand for your product in the future. These factors can range from something as simple as long-term weather patterns to laws that may impact future sales of your products. Also take into account your competitors and their actions. Will a competitor respond to your introduction of a new product on the market by engaging your business in a price war?

Dig Deeper: When Customers Grumble about Price Hikes

How to Price Your Products: Deciding to Raise or Lower Prices

One size does not fit all. You can only go so far pricing all your products based on a fixed markup from cost.  Your product price should vary depending on a number of factors including:

  • What the market is willing to pay.
  • How your company and product are perceived in the market.
  • What your competitors charge.
  • Whether the product is "highly visible" and frequently shopped and compared.
  • The estimated volume of product you can sell.

That opens the door to raising and/or lowering prices for your products. In order to make this call one way or the other, you should first understand what's already working. Analyze the profitability of your existing products, so you can do more of what works and stop doing what doesn't work. You want to find out which of your existing products are making money and which are losing money. You may be surprised at how many of your products are losing money -- fix those ASAP.

You should also constantly re-evaluate your costs. To sell it right, you have to buy it right. If you are having a hard time selling a product at an acceptable profit, the problem may be that you are not buying the product right. It may be that your cost is too high rather than your price is too low.

When to Raise Prices -- and How
You should always be testing new prices, new offers, and new combinations of benefits and premiums to help you sell more of your product at a better price. Test new offers each month. Raise the price and offer a new and unique bonus or special service for the customer. Measure the increase or decrease in the volume of the product you sell and the total gross profit dollars you generate.

It is a fact of life in business that you will have to raise prices from time to time as part of managing your business prudently. If you never raise your prices, you won't be in business for long. You have to constantly monitor your price and your cost so that you are both competitive in the market and you make the kind of money you deserve to make.

"The best way to determine if the product is being priced correctly is to watch sales volumes immediately after making any change," Willett says. "This can be done by watching cash collections (if the business is cash or credit card based) or credit sales (if accounts receivables are used) for the weeks following. If a price increase is too high, customers will react pretty quickly.  Also watching the competition can help - if you've made a positive change in prices; competitors are likely to follow suit."

But there is a right way and a wrong way to raise prices. You don't want to alienate your existing customer base by raising prices too steeply, especially during a recession. "Rather than have a sudden increase, have a strategic plan over two to five years during which you gradually increase your price 5 to 10 percent," Toftoy advices. "If the business is in trouble and you say, 'Hey, I'm going to mark everything up… that kind of scares people away. This way you haven't gone from $5 to $15. You've gone to $7.50 first."

"In terms of raising the price -- this is more easily accepted in 'good' economic times," Willett says. "As the underlying cost of producing the product rises, the customer is prepared to accept the rise in the price to them.  If the customer perceives that the firm's costs are going down while their price is going up. This will not be received well and is likely to backfire."

When to Lower Prices -- and How
You may realize that you have missed your target audience by pricing your products too high. You can always choose to discount your products or give customers something for free in order to get them to try your product or generate traffic to your storefront or website. "You have to get people in," Toftoy says. "People like getting something for free or some kind of discount. You can make Wednesday senior citizen day when seniors get a 20 percent discount. Then maybe you can offer a student discount day. Then all you're doing is keeping the price the same, but to those people you're giving them a cut but it's not like you've lowered all prices."

Generally, lowering prices is not a good practice unless you are using this strategically to garner market share and have a price sensitive product or if all of your competitors are lowering their prices, Willett says. "An alternative to lowering price is to offer less for the same price which will effectively reduce your costs without appearing to reduce the value to the customer," she says. "Restaurants have found this particularly helpful in terms of portion sizes but this same strategy can be applied to service industries as well."

Monitor Your Pricing
Another key component to pricing your product right is to continuously monitor your prices and your underlying profitability on a monthly basis. It's not enough to look at overall profitability of your company every month. You have to focus on the profitability (or lack of profitability) of every product you sell. You have to make absolutely sure you know the degree to which every product you sell is contributing to your goal of making money each month. Remember: "People respect what you inspect."

Here are some other practices to help you price right:

  • Listen to your customers. Try to do this on a regular basis by getting feedback from customers about your pricing. Let them know you care about what they think.
  • Keep an eye on your competitors. If you don't have deep pockets and can't afford to hire a market research team, hire some college students to go out on a regular basis and monitor what your competitors are doing.
  • Have a budget action plan in place. Try to have a plan for your pricing that extends out three to six months in the future.

You owe it to yourself and to your business to be relentless in managing your product pricing. Remember, how you set the price of the products could be the difference between the success -- or failure -- of your business.

Dig Deeper: Making the Case for Higher Prices

Related Links:
Case Study: Finding the Right Price for a Hot Product
Luke Skurman's quirky college guides were a big hit. The problem was getting readers to pay. What if he gave the content away?

Recession Pricing Strategies: How Low Can You Really Go?
Tempted to cut prices? You're not alone.

The Price Is Right
Setting prices has always been more art than science. New software aims to change that.

The Right Price
Too many new entrepreneurs harm their own prospects by under pricing their goods and services. But if those company owners just take the time to think, they can set their prices closer to fair market value.

Is It Time to Raise Prices?
Boost your bottom line by taking the guesswork out of pricing.

Flexing Your Pricing Muscles
Despite years of almost no inflation, you may have more pricing power than you think. Here's how to exercise it without bruising yourself in the process.
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

How Sales Techniques Work

by

 

 

 

 

Sales Stages

 
Dale Carnegie's Free Book Teaches You Essential Presentation Skills.

 

 

 

Complete course material to teach conflict resolution skills.

 

 

 

Set up a course for your customers without learning a new software.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The foundations of most modern sales techniques lie in five stages of action. These began in the 1950's and include:

  1. Attention: You have to get the attention of your prospect through some advertising or prospecting method.
  2. Interest: Build their interest by using an emotional appeal such as how good they will look to their boss when they make this deal that will save the company thousands of dollars!
  3. Desire: Build their desire for your product by showing them its features and letting them sample or test-drive it.
  4. Conviction: Increase their desire for your product by statistically proving the worth of your product. Compare it to its competitors. Use testimonials from happy customers.
  5. Action: Encourage the prospect to act. This is your closing. Ask for the order. If they object, address their objections. There are then many variations of closing techniques that can help get the business.

There is a plethora of closing techniques that range from hard sell to soft sell and everything in-between. Some of these include:

  • A Direct Close - Simply ask for the order when you are sure your prospect is ready.
  • A Deal/Concession Close - Using this closing technique gives the prospect the feeling that they are making a smart choice and saving money (or getting more value). Use it with phrases like "Order today and I can add this other module for only 10 percent more."
  • A Time-Driven Close - This one works well with statements like, "prices are going up next week, so you should go ahead a let me place your order today."
  • Trial Offer - You can let the prospect use the product at no risk for a trial period. This works well if you're selling products that make people's lives easier. They aren't likely to want to give it back if it has saved them a lot of time and effort during the trial period. On the other hand, if they haven't had the experience with the product you told them they would then you probably won't get another chance.

Many more closing techniques exist, but we're going to focus on one of the more successful techniques for building a large and loyal customer base. That focus is, once again, Relationship Selling. Read on to learn some of the ways you can help your staff develop solid relationships with their clients that will build sales and benefit the client.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

How to Hang Art Work

  • Ho High?
  • When hanging two or more art works together, such as pictures, tapestries and figurative art pieces,  divide the wall in thirds vertically and position the art within the lower two-thirds.
  • In hallways and entries or " corridors", hang  wall art at average standing eye level, about 5' 6" from the floor.
  • For a large piece, hang the large piece so the center of the piece is about 5' from the floor.
  • When hanging two or more art works  together, such as pictures, tapestries and busy art pieces, divide the wall in thirds and position the art vertically within the lower two-thirds.
  • In living and dining rooms you are likely to be seated, hang art wall  closer to sitting eye level.
  • Allow at least 6' when hanging art directly above a sofa or  dining table. It should be high enough to avoid crowding the furniture, so leave enough space between the sofa and the art work, yet low enough to enjoy the full effect.

PROPORTIONAL art Work

  • Generally, large works of art balance large pieces of furniture and vice versa, but don't be afraid to mix things up.
  • A straight line isn't always desirable: Try hanging several works above a  sofa with a curved back, following the curve in positioning the art.
  • When grouping , wall art separate them by at least 2".
  • An odd-numbered grouping (3, 5, etc.) tends to be more pleasing to the eye then a symmetrical even-numbering arrangement.

Where to HAMMER

  • Decide where you want to hang the  wall decor.
  • Do not forget to account for the drop of the wire
  • Measure artwork to locate its center.
  • Mark the wall where you want the hanger..
  • For a grouping arrange all the pieces first in an area, then follow the sketch.
  • Use the appropriate hangers for the  weight of the  wall art. A large or heavy piece may require two hangers, so use a carpenter's level o " squadron" to make sure they are aligned. Use wall studs or special drywall hangers for added strength and security. It is recommended to use masonry screws for brick walls, and molding hooks for plaster walls. To hang art work from picture-rail molding (near the ceiling, typically in older homes), use molding hooks, S-hook hardware, and a decorative chain or cording or ask . Make sure you use the correct hangers for the appropriate weight.