Logical Pricing

Prices are not expensive or cheap. They are either logical or illogical.

If your organization’s brand is very strong and very much in demand, you can charge more money to be known for higher value, but you might choose not to do that if you want your brand to be associated with the idea of lower prices.

If your organization’s brand is weak and not in demand and you charge higher prices than your competition, you might get laughed at by prospects. Or it might shift the way prospects think about you.

If your price is so low that you can’t make a profit on what you’re selling, then you will go out of business. You will either need to change the way you produce your product or service, what you spend on marketing, or charge more.

If your price is so low that people think you are selling an inferior product or service, you are hurting your business.

You have to make logical decisions when pricing what you sell both in terms of your viability as a business and your organization’s brand today and desired brand in the future. Write down various prices and see which one makes the most sense for where you are today and where you want to be in the future.

 

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