Pricing

Pricing is probably one of the most difficult aspects of the marketing plan for a small business yet the most crucial, if a profit is to be made. Setting prices is an art, not a science. It's the art of striking a balance between what you need to stay in business and the market's perception of what your product is worth. Determining what to charge for your product is one of the toughest, trickiest, and …

…important to your on-going success. It must be consistent with the corporate goals and objective and should be implemented in a manner that facilitates revenue generation. Pricing models that are out of touch with the market and you potential customers will at best slow the sales cycle and at worst, deprive you of revenue that you should have gotten. It does take time to do the job thoroughly, but it is well worth the effort.