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MARKETING CONSULTANTS

Archive for the Pricing Category

The Big Win-Win. How to Get What You Want and Deliver More to Your Customers.

The Big Win-Win.  How to Get What You Want and Deliver More to Your Customers.

Win Win MarketingWhat do we all want from our businesses?

  1. More Customers
  2. Higher Prices
  3. Increased Bottom Line

How are you going to get there?  Value Pricing.

Understand that value pricing is not just a $100 term for low price tactics.   At a time when many core products are quite similar , creating additional value can be both a differentiator and a profit-maker.  If you can figure how to position that incremental value, it might just be the biggest win-win for your company.

Just make sure that the incremental value you create is valuable to your customers… not just something you believe should be of value.  If you do that successfully, you can charge customers for that.  And just about now I’m hearing the chorus of, “I can’t lower prices.  Competitors are lowering theirs.”

Think about it.  Do you really want to have the lowest prices?  Not only is lowball pricing generally unproductive, it’s a tough position to break out of.

McKinsey confirms this.  In a recent article they claim that, “Customers do not buy solely on low price. They buy according to customer value, that is, the difference between the benefits a company gives customers and the price it charges. More precisely, customer value equals customer-perceived benefits minus customer-perceived price. So, the higher the perceived benefit and/or the lower the price of a product, the higher the customer value and the greater the likelihood that customers will choose that product…..The key to success often resides in gaining a clear understanding of the real attributes driving customer choice and their relative importance.”

The potential for profit in managing the customer value chain is enormous.  The first step, as with most marketing challenges, is getting into the heads of your customers.  Customers imbue some level of value into all products.    97% of small businesses can benefit from figuring out how to add meaningful value to their core features and benefits.

Link To McKinsey Article

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Susan’s efforts enabled us to acquire many high profile customers and increased revenues tremendously.
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-V. MamoneSystems ConsultantNetwork Digital

How We Can Help You.

We are marketing consultants based on Long Island, NY. Over the past 20 years, we've built fierce market leaders in a broad range of businesses - from tiny start-ups to global Fortune 500 companies.  Our experience spans multiple industries from consumer electronics to financial services and from food services to photo.  We're looking forward to talking to you to see how we can help take your business to the next level.