Aug 9, 2020
Profit is the engine that drives everything you do, so if you
don’t price your creative products correctly you can’t hope to last
very long or to build a resilient retail business. Underpricing is
a common trend I see afflict budding entrepreneurs and small
businesses alike, where various elements, often including a lack of
confidence or belief in you and your business, means you start
charging less than the market value for your products.
In episode 6 of the Resilient Retail Game Plan, I'll walk you
through how you can identify whether you are, indeed, underpricing
and then how to use the ‘Value Triangle’ to set a price that’s
justified, not only through customer research and feedback but by
conveying quality to your customer base and creating desirability
in the marketplace.