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Pricing Made Easy
Pricing Made Easy helps you understand what is pricing, current market pricing scenario, various pricing strategy, pricing problem & mistakes in today’s business and pricing objective. This book teaches you how to Price your product focusing on two main strategies Markup & Markdown with real-time examples and different ways to calculate them.
Markdown strategy helps you price your product during a seasonal sale or create a plan before going to the next selling season to keep all products moving through the store as quickly as possible. This strategy is most effective for stores whose customers visit frequently because the store needs to maintain an image of always having exciting new products available. One more reason to use this strategy is Poor performance of the product or reduction of the price because of a product’s inability to sell at its original price.
Markup strategy helps you save lots of time by pricing products quickly. If you do not keep up with the prices of your competitors though, you can end up losing lots of money. This will happen if your prices are over or underpriced. In one case you will lose your customers and in the other, you will have lower profit margins. It also helps the vendor to easily calculate profit and Fair price of the product can be easily found. This strategy is mainly used by manufacturers and retailers to calculate their selling price.
This book helps you choose prices that maximize profits and shareholder value while considering consumer and market demand.
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