Wednesday, May 15, 2013

Your Business Plan: Price Your Products Against Their Perceived Value

From your customers and prospects point of view -when it comes to creating your business plan and executing your strategy, price your products against their perceived value. If it was just about price nobody would buy a BMW. It's about the perceived value of the product compared to the investment required to own it. It's not really about what something costs, instead it's what it's worth in terms of the marketplace. Spend time on this, measure your percentage of repeat business against one time buyers. This is a simple way to tell what your customers really think about your value proposition.

http://www.waynemessick.com/strategic-planning/how-to-write-a-business-plan

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