You need to review your Sales Process and have sound Management Information
It’s never easy deciding what to charge a customer, should it be by unit, by hour, by product or service ? The issue gets much more complex once you start to consider your service offering, volume discounts, market trends and what your competition is doing. You really need to understand where your product/service and business sits in the marketplace. How unique is it ? Can you charge a premium price or is it more of a commodity ?
Before you can answer these questions you also need to understand the cost structure of your business. How much does it cost you to either produce a product or provide a service to each of your main customers ? Having a good sales process and up to date management information to hand is really important if you are to get the pricing for your business right.
Pricing is a really difficult yet common issue and we are always helping our clients work out the best solution for them.
Posted in: Business Issues
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