Let’s face it, the only reason one goes into business is to earn money, make a profit! And, the price of your product is intrinsically linked to the perceived value of your product or service – price ‘right’ and you have happy customers, and a brand position, price wrong and the product fails, regardless of how great it is!
This infographic is a comprehensive guide on different pricing strategies: factors that affect pricing, critical difference between ‘value’ and ‘cost’, fixed and variable costs, role of pricing when building a brand, long-term and short-term price strategies, etc.
Infographic Source: How to Effectively Price Your Products or Services by Business Coaches Sydney