I’ve commented on the difficulty of surveying for pricing. One reason for that is pricing is not an absolute.
The only measure of value for a product or service is what someone is willing to pay for it. If you can change that, you can charge more.
It is one of the major jobs of marketing (and PR) to make people willing to spend more money for the same product or service.
Why do people pay $100 for a pair of designer jeans? Is the fabric so much better than a $20 pair you buy in Wal-Mart?
Why do flacks (Publicists) work their tails off to get your book on Oprah or Madonna to wear your hats? It isn’t just the exposure. People will pay more for a product endorsed or used by a celebrity.
The easiest way to increase your bottom line is to raise your prices without reducing your sales volume.
“Easy?” you say. “We’re in a recession!”
So What.
Get clever.
In almost every industry and business, there are opportunities being missed to enhance the value of products and services in the eyes of the prospective buyer.
Think about it.
Your Bottom Line
