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Last Updated: Jun 22nd, 2006 - 12:40:35 |
Pricing Strategy
Pricing Strategy to Maximize Sales and Profits
Pricing your goods is a subtle balance between maximizing profits, achieving sustained turnover, and discounting slow movers without cannibalizing remaining inventory. Different strategies are required for different products, markets, and seasons.
Mar 13, 2006, 18:51
Pricing Strategy
Pricing By Demand Instead of By Purchase Price
Selling your better items at a premium and liquidating your slow sellers at a discount will increase your cash flow and turnover. You will also avoid choking your inventory with yesterdays dogs in the mistaken belief that they represent your savings.
Mar 12, 2006, 17:56
Pricing Strategy
Research Marketplace Selling Prices and Consumer Demand Before Setting Your Prices
One of the first things to consider in a pricing strategy is the price that similar items are selling for in the marketplace. With this information you can decide to go with an upscale value added price or a discount volume pricing model. One indication of the market price is the competitor's list prices. But these are their retail prices and you don't really know how many they sell at full retail and how many get discounted later in the season. Learn how to quickly research selling prices and gauge demand for your products before you stock them.
Mar 11, 2006, 10:16