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Strategic pricing sets a product's price based on the product's value in the eyes of your customers (or potential customers) rather than on the more usual cost of production plus a markup.

If your end of year results turn out to be poorer than expected, is this always the time to change your pricing strategy? 

None of us are perfect and we all make mistakes - come on, even you!!  Well, some mistakes can be quickly mended but other mistakes cost us money and when it's your livelihood that's a very serious matter.

1. How do you know if your pricing strategy is working? 
2. How do you know if the prices you have set are the best prices for your goods or services? 
3. When was the last time you made iterative changes to your pricing strategy to test if that made a difference to your overall profitability or revenues?
4. Are you reliant on traditional pricing strategies such as cost-plus pricing?

Pricing can be one of those topics that is often ignored. No matter whether your profits and revenues are growing, or your business is declining, you can always fine-tune your pricing to increase your margins.

Pricing is a journey, and you should always be looking to tweak and fine-tune your pricing, as well as seeking to understand if your overall pricing strategy is working. This post covers 9 indicators that may be telling you it’s time for a change in your pricing plan.

Pricing strategy can be challenging, complex - and offers no shortcuts. Unfortunately there is no magic wand to wave nor just one pricing strategy that will produce the greatest profits under ALL conditions.

When two products or services have similar core features, but are produced by different companies, competition results.

In this article you will read the 10 pricing strategies to increase your profits. The ingredients of profit are costs, selling price, and the unit sales volume. They must all be in the proper proportions if your desired profit is to be obtained.

Cost-plus pricing is a common approach to pricing used by many B2B businesses. It's simple really - in order to reach your cost-plus price you figure out all the costs of production or manufacture, set a desired margin for each unit and add that margin onto your cost. Hey presto, you have your price!