Market, whether they are man-made or natural, you have several ways to price your product. You can use a higher price point than average, copy the market South Sudan Email List average, or undercut your competition by pricing lower than the average. This is called South Sudan Email List market-oriented pricing. It compares your product or service to the competition in your market. Create a South Sudan Email List spreadsheet that identifies your direct competitors’ pricing of products you intend to sell. Using your market research and factoring in your costs, you can make an informed pricing decision. Screenshot showing two different methods of pricing

Bad Email Marketing Practices to Avoid

The pro of keystone pricing South Sudan Email List is that you can test your market and see if they’re willing to pay that price for your product. Sticking South Sudan Email List with our diamond example, if it cost you $500 to make a diamond ring, will someone be South Sudan Email List willing to pay $1000 for it. On the upside, you’ll have a gross margin of 100%. The con of keystone pricing is that South Sudan Email List your price will be uncompetitive

How To Do Email Marketing And Not Be

If your competitors have all decided to accept a lower margin — marking up a computer by 100%. Would not get you any sales or much interest in your business South Sudan Email List plan. To read more about market-oriented pricing, keystone pricing, and other pricing strategies, click here. Remember: The price you set now can be changed later; however, you don’t want to price your item too low South Sudan Email List where you don’t make a profit, nor too high where no one wants to buy it. Use This Ecommerce Business Plan Template To Enter Your Pricing Model

Leave a Reply

Your email address will not be published. Required fields are marked *