Most buyers and consumers expect prices to rise over time but when they go down they are pleasantly surprised. Here are some reasons why you may be able tp reduce some prices.
*Your supplier cost is less
*You get larger purchase discounts
*You have found a different supplier
*You're taking prompt pay supplier discounts
*Sales have increased enough to cover expenses
*You want to meet competitor's prices
*You want more market share
*You want a loss leader
*To move excessive inventory
*You have downsized your staff
*To increase sales before you sell business
*Technology forced prices lower
*To clear out aging products
*For an advertising campaign
*You now outsource to keep costs down
*You just want to be a nice person (WHAT!)
More on pricing strategies in chapter 9 of my new book "90 Days to Success as a Small Business Owner"
Friday, May 13, 2011
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