Manage episode 275058941 series 2810762
Today Dr. Michael Troyer and Anna Steinfest will talk about the challenge of pricing. You will learn the following:
- What your price should reflect
- Cost to create and deliver the product or service
- The necessary reserves listed above
- The risk you are taking on: debt, time, payroll, governmental regulations,
- The expertise that you are providing (its depth, breadth and the investment of resources in acquiring it)
- The degree to which you can customize your product or service to the specific customer’s needs
- The adjustability of the product or service to changing customer needs and your capacity to meet those needs
- The value your product or service delivers relative to the customer’s other choices
- The sacrifices and compromises (compensating behaviors) the customer will or won’t except in solving their problem, relative to the performance of your product or service.
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