Steven Schiff’s Post

Pricing can make or break a sale. Are your prices competitive without compromising profitability? 💸 Explore pricing strategies like value-based, competitive, and cost-plus pricing to determine the best fit for your store. It’s about finding the right balance! Which pricing strategy resonates with you? Share your experience with pricing strategies or ask for a tip below: #PricingStrategies #EcommerceGrowth #ShopifyBusiness #eCommercePricing

Setting the right price for your product isn't just guessing numbers; it's about being smart with your strategy. Here's a quick guide to keep your pricing on point: - Look beyond selling direct: Planning to sell through big stores? Remember, they'll want a piece of your pie. Make sure your prices can handle that and still keep you profitable. - Know your costs: Understand every penny it takes to make, package, and ship your product. Don't forget to add a good profit on top to find your ideal price. - Watch your margins: If making your product costs $10 and you want to double the price for profit, think twice if a store wants to sell it at the same price you do. You might end up not making any profit at all after covering all the extra costs. Smart pricing means making sure you make money and grow your business with every sale. Check out our simple guide for more tips on setting prices that work for you and your customers. #PricingTips #CPG #GrowYourBusiness #StrategicFinance #BusinessGrowth #ScaleUpFinancialSolutions #FinancialInsights

Setting the right price for your product isn't just guessing numbers; it's about being smart with your strategy. Here's a quick guide to keep your pricing on point: - Look beyond selling direct: Planning to sell through big stores? Remember, they'll want a piece of your pie. Make sure your prices can handle that and still keep you profitable. - Know your costs: Understand every penny it takes to make, package, and ship your product. Don't forget to add a good profit on top to find your ideal price. - Watch your margins: If making your product costs $10 and you want to double the price for profit, think twice if a store wants to sell it at the same price you do. You might end up not making any profit at all after covering all the extra costs. Smart pricing means making sure you make money and grow your business with every sale. Check out our simple guide for more tips on setting prices that work for you and your customers. #PricingTips #CPG #GrowYourBusiness #StrategicFinance #BusinessGrowth #ScaleUpFinancialSolutions #FinancialInsights

If you adopt a high-low pricing strategy, you are combining features of loss leader pricing and price skimming. Price skimming is a short-term strategy where a business initially puts a high price point on a product and then gradually reduces it over time to attract more buyers. With loss leader pricing, an organization adopts an aggressive strategy and will reduce the price of a product or service to the point where they are making a loss on that product. However, they hope that by doing so, they will attract customers away from their competitors and that those customers will then spend more on other items, thus covering any losses. Knowing how to use a tactic so that the pros outweigh the cons is essential when it comes to deciding whether to use that tactic and how to use it. Follow the link below to learn about the advantages and disadvantages of high-low pricing 👇 #pricing #pricingstrategy #ecommercepricing #highlowpricingstrategy

These pricing strategies will blow your mind! #productmanagement #entrepreneurship #startup #pricingstrategies #marketingstrategy

These pricing strategies will blow your mind! #productmanagement #entrepreneurship #startup #pricingstrategies #marketingstrategy

Are you struggling to price your products effectively to optimize profit margins? Check out this insightful guide on how to price your products effectively:

The decision by distributors and retailers whether or not to accept a book is a business decision, not a literary choice. Can your product make a profit for them? If it does not sell, it is removed from the shelf, replaced by another option and returned to the publisher. Your proposal to your potential distribution partners must stress the promotion you will do to increase the retailer’s store traffic, inventory turns and profit per square foot. 

"Taken individually, each strategy offers its benefits — and potential pitfalls. But none of these approaches exists in a vacuum. The lines are blurry, and in reality, many organizations operate using pieces of all three." Read more about these three pricing strategies and which one has the most significant impact on your bottom line as an Ag retailer. Download here: https://lnkd.in/gwK4287T 

Developing a smart pricing strategy is just the first step—but without clear pricing objectives, even the best plans can fall short. Our latest article explores the importance of setting pricing objectives with real-world examples and seven key goals every retailer should consider to drive growth and profitability. Defining the right pricing objectives can turn your strategy into long-term success. The link to the article is in the first comment.