Are you stuck in the middle?

Most entrepreneurs like to price their products right in the middle. The idea that once you take the middle you can’t go wrong. But they fail to see that the middle ground is a dangerous area. It makes quality conscious consumers think it is too cheap, bargain hunters in turn think it is too expensive.

This is not to say it is entirely wrong; it is to say simple solutions may not always be so simple. Do your homework, if it indicates that’s the best price range - sure, go for it!

What are the other choices?

Let us help. Call us now at +60378901079 or visit us at roar-point.com

Are you saying the right thing?

If you understand how much value your product delivers but complain that the consumers are not willing to pay that price; then perhaps your challenge is in communicating that value to the consumers. You aren’t telling a compelling story that makes their willingness to pay increase. Or your product price is signaling the wrong message. Calibrate both of these and see how your profit increases.

Are you charging the right price?

Let us help. Call us now at +60378901079 or visit us at roar-point.com

How did you determine your price?

If all you do is ask, "What are my costs? What returns do I want? What are my competitors doing? What is the market willing to bear?" Then you are missing the bigger picture in your pricing strategy.

The bigger picture involves you understanding your product’s (or service’s) worth to the market and being able to communicate that. That’s where the other P (i.e., promotion) of marketing comes in to secure the positioning of its worth in the consumer’s mind.

Are you leaving money on the table?

Let us help. Call us now at +60378901079 or visit us at roar-point.com

Do you want to increase profitability?

There are four gears you can pull in order to increase profitability. Sales, price, fixed cost and variable cost. You can increase the first two and you can decrease the last two. These will increase your profitability. Arguably, the easiest to do is increasing price but it is the one that most companies are most afraid to do.

Ever spent more time on your pricing strategy?

Let us help. Call us now at +60378901079 or visit us at roar-point.com

Do you think you can make it up?

“I will make it back with volume.”

If you are losing 2 cents on every good sold, there is no way you can make it back by selling more. Don’t confuse “loss leaders” with making a loss. Even then I would argue that you should never make a loss on what you sell. Bare minimum, sell it at cost price if you are playing the loss leader game.

Can you lead if you are losing?

Let us help. Call us now at +60378901079 or visit us at roar-point.com

Are you making money?

The percentage of your mark-up from the cost of your product is not your profit margin. Some of you may know that. But you will be surprised at how many so-called marketers out there do not understand this simple concept.

Most marketers tend to leave this to the finance or accounting department; when pricing is the sole determinant in the marketing mix that truly delivers profit to the business.

Just for good measure, here are some profit margin formulas you may want to get intimate with.

Take back the one responsibility that can seal your ultimate value as a marketer to the company.

What value do you deliver?

Let us help. Call us now at +60378901079 or visit us at roar-point.com

Can you conquer your niche?

Start with your niche. Be the big shark in that small pond. Aim to be the monopoly in the niche. If you can do that, you would have learned key lessons about your strengths to fight in a bigger pond without being eaten alive too early, or worse; drown yourself too early.

Start small and grow. There is nothing wrong with it. Nature has been doing it for millennia.

Do you want to be a monopoly?

Let us help. Call us now at +60378901079 or visit us at roar-point.com