Andrew Gregson spoke to the Okanagan Business Referral Group in June 2011 with an Introduction to Pricing Strategies. The view from our members … there is more to pricing in your business than meets the eye!
In a introduction to pricing concepts Andrew covered why big companies simplify and manage their costs using simple techniques. But they are not misled by accounting formulas, gross margins, and gross profits. And they have never forgotten that the purpose of the company is to earn a return on the money invested. Their technique sheds blinding light on ALL the costs of doing business. Small businesses can profit from this analytical approach.
Have you ever wondered if there is just a better way of pricing that would allow you to compete with the big boys?
Every retailer is totally convinced that ending a price in 99 cents somehow fools the customer into thinking that here is a better price. But until the late 19th century, even number prices were the norm. This changed with the arrival of a simple machine. And that simple machine was adopted quickly because it kept store clerks honest.
Would you like to increase sales without dropping the price?
The big companies rely heavily on vicious attention to cost accounting techniques. But they are not misled by accounting formulas, gross margins, and gross profits. And they have never forgotten that the purpose of the company is to earn a return on the money invested. The big companies simplify and manage their costs using simple techniques. Their techniques shed blinding light on ALL the costs of doing business.
How can you become the price leader instead of the price follower in your industry?
Now you have found all your costs. Does this mean instant profits? What to do next. Gregson demonstrated by means of real life business examples how to translate your efforts into a winning price formula. How your company can achieve Super Profits using the same simple techniques employed by the big companies, without dropping prices, and without losing sales.
However, sometimes price has nothing to do with costs. Here are real life examples of prices going up and sales rising up, too. And then, here is evidence that dropping prices can actually hurt sales. Still not convinced? Still believe that your business has to sell on price alone? Here is one final and compelling example to convince you. This is an entire market sector with a thousand different niches and a thousand different pricing levels but where the costs are identical across the board.
Great information in only 12 minutes!
Contact Andrew D. Gregson
w: http://www.pricingstrategies.ca
101-1735 Dolphin Ave.
Kelowna, BC, Canada V1Y 8A6
cell: (250) 859-0752
toll:1-888-959-0752
e: andrew@pricingstrategies.ca
