What are the 3 P's of pricing?
The 3 P's of pricing are Product, Perception, and Positioning. They're the secret sauce that can turn your business from meh to money-making machine.
The 3 P's of pricing are Product, Perception, and Positioning. They're the secret sauce that can turn your business from meh to money-making machine.
Ever wondered how businesses turn browsers into buyers? The secret sauce could be price bundling. By offering products together at a discount, you're not just selling more but potentially increasing your average order value.
Pricing your product effectively involves understanding your costs, knowing your customers, and analyzing the competition. It's a balancing act between making a profit and keeping your customers happy.
Cost-plus pricing is when you add a fixed percentage to your product's cost to set the selling price. You calculate your costs, decide how much profit you want, and boom - there's your price. Sounds easy, right? Well, it can be. But it's not always the best choice. Some businesses love it, others not so much. Let's dive into why it might (or might not) work for you.
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