Comments on: The Art of Pricing http://smallbiztrends.com/2008/08/art-of-pricing.html Exploring the trends driving small business Thu, 09 Feb 2012 19:12:00 +0000 hourly 1 http://wordpress.org/?v= By: Review of 1% Windfall by Rafi Mohammed | Small Business Trends http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-730840 Review of 1% Windfall by Rafi Mohammed | Small Business Trends Sat, 24 Apr 2010 15:06:13 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-730840 [...] How Successful Companies Use Price to Profit and Grow" is Rafi Mohammed's follow-up book to "The Art of Pricing." [...] How Successful Companies Use Price to Profit and Grow” is Rafi Mohammed’s follow-up book to “The Art of Pricing.”

]]> By: Ad Manager http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-614143 Ad Manager Wed, 27 Aug 2008 03:48:42 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-614143 For some products and industries, pricing is simple (eg: follow the current market leader, standard markup, etc.). For start-ups with leading edge products or unique value proposition, it's hard but need to get right, not-so-right, but not totally wrong the first time. Price it way off and you become more of a joke than a serious consideration for the decision maker. For some products and industries, pricing is simple (eg: follow the current market leader, standard markup, etc.). For start-ups with leading edge products or unique value proposition, it’s hard but need to get right, not-so-right, but not totally wrong the first time. Price it way off and you become more of a joke than a serious consideration for the decision maker.

]]> By: Mehdi Hassan http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-613606 Mehdi Hassan Mon, 25 Aug 2008 13:39:04 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-613606 Yes, pricing is an important strategy. No body will hit the perfect price for their products at the first try. It will grow over years through trial and error process. Yes, pricing is an important strategy. No body will hit the perfect price for their products at the first try. It will grow over years through trial and error process.

]]> By: David Wolf http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612470 David Wolf Thu, 21 Aug 2008 03:05:28 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612470 I have a friend with a number of years in the Jewelry and Gallery business and a number of very successful stores. He has a scientific approach where he prices on the high side and then brackets the price downward until he "finds" his market for a specific item. It's really pretty basic...he's letting the market determine price. If he is selling too rapidly, then he raises the price to slow the demand. In this way he controls the inventory and continually listens to where the market is. It's all about what the customer thinks and acts on. I have a friend with a number of years in the Jewelry and Gallery business and a number of very successful stores. He has a scientific approach where he prices on the high side and then brackets the price downward until he “finds” his market for a specific item. It’s really pretty basic…he’s letting the market determine price. If he is selling too rapidly, then he raises the price to slow the demand. In this way he controls the inventory and continually listens to where the market is. It’s all about what the customer thinks and acts on.

]]> By: Susan Oakes http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612390 Susan Oakes Wed, 20 Aug 2008 20:55:16 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612390 Thanks for the review Amanda and I agree with your comments regarding costs and customers net value as you can't set prices in isolation. Thanks for the review Amanda and I agree with your comments regarding costs and customers net value as you can’t set prices in isolation.

]]> By: Rose Anderson http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612227 Rose Anderson Wed, 20 Aug 2008 05:33:22 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612227 Setting the selling price of a certain business is really one of the hardest thing to do in business. It requires a lot of deliberation and justification. Maybe you can consult a number of people on how would they react to certain price ranges for a certain product you sell. After all, human behavior approach prices in a most likely manner. In addition, reading resources such as Ivana mentioned could be a good resource on determining fair prices both for your customers and to business owners. Setting the selling price of a certain business is really one of the hardest thing to do in business. It requires a lot of deliberation and justification. Maybe you can consult a number of people on how would they react to certain price ranges for a certain product you sell. After all, human behavior approach prices in a most likely manner. In addition, reading resources such as Ivana mentioned could be a good resource on determining fair prices both for your customers and to business owners.

]]> By: Martin Lindeskog http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612191 Martin Lindeskog Wed, 20 Aug 2008 02:10:49 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612191 Amanda, I say the same. I have to look at this book next time we set up a new meeting place for entrepreneurs and businessmen. By the way: Did you receive my video email message? All the Best, Martin Lindeskog Amanda,

I say the same. I have to look at this book next time we set up a new meeting place for entrepreneurs and businessmen.

By the way: Did you receive my video email message?

All the Best,

Martin Lindeskog

]]> By: Chris http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612116 Chris Tue, 19 Aug 2008 17:40:23 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612116 The book does sound interesting. Particularly the psychology of human behavior. It's quite interesting and sounds like a good read. The book does sound interesting. Particularly the psychology of human behavior. It’s quite interesting and sounds like a good read.

]]> By: Amanda http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612078 Amanda Tue, 19 Aug 2008 14:44:38 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612078 I think pricing was one of my major downfalls with my candle business. It's really hard to estimate what a consumer will think is a good & fair price for a product. When I choose to reopen my site, I think I should take the time to read this book. He gave some really good advice during the radio show. I really need to find that balance between charging too much and too little. I think pricing was one of my major downfalls with my candle business. It’s really hard to estimate what a consumer will think is a good & fair price for a product. When I choose to reopen my site, I think I should take the time to read this book. He gave some really good advice during the radio show. I really need to find that balance between charging too much and too little.

]]> By: Pricing strategies to get more profits | Small Business Trends http://smallbiztrends.com/2008/08/art-of-pricing.html#comment-612063 Pricing strategies to get more profits | Small Business Trends Tue, 19 Aug 2008 13:40:49 +0000 http://www.smallbiztrends.com/2008/08/art-of-pricing.html/#comment-612063 [...] a companion to my review of the book “The Art of Pricing,” I’d like to highlight 8 pricing strategies that Rafi Mohammed, the author, [...] [...] a companion to my review of the book “The Art of Pricing,” I’d like to highlight 8 pricing strategies that Rafi Mohammed, the author, [...]

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