I feel like I've been asking a lot of questions lately, but I'm always interested to learn others' opinions! I'm curious where you all draw the line with price points...
Would you spend more for ethically, responsibly sourced brands? Also, would you compromise quality for better pricing? Or would you prefer to spend more for higher quality?
That is really useful to know. Thanks a lot! As for determining the price point I highly recommend you have a closer look at https://priceva.com/.
This workshop a two-part series to help you achieve your business goals. Part 1 addressed business expenses and now, Part 2 will address how to price your product or service.
This workshop will discuss critical elements small business owners should address when setting their prices from “cost plus”, to market-driven, to understanding your competition. Whether you are selling a product or a selling a service, this workshop will help you understand the key factors that go into pricing, and thus help you optimize your pricing for your business success. (Note, this is the follow up to “A Startup Budget for Your Small Business” workshop. You do not have to attend the Startup budget to benefit from this workshop.)
This workshop will be presented by SCORE counselor Gloria Spence. SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. Space is limited; pre-registration required: http://bit.ly/ScoreBuget-11-06-2019 #SmallBusiness #SmallBiz #Startup #SmallBizOwner #Pricing #MassHire #Score
I was someone who set the sales at a major department store and the price point would clearly tell you what the highest price item would be on that particular sales rack. On the other hand you would have percentages, in this case you would have the lowest percentage indicated on the rack. As far as the quality of the items it all depends on the brand and not the price point or percentage, it depended on what the sale price was for that particular sale.