POWER OF HIGH PRICING POLICY

There is a general belief that; if it costs more, it sure must be better – do you agree with this too? High pricing policy doesn’t guarantee great sales; but it sure gives your brand a presence that attracts high class personalities; which guarantees improved profitability.

If a business charges 40 percent more than his nearest competitor, it must have near preternatural powers to invigorate its clients. Cold stone creamery sells ice cream at a price higher than what you will get in Shoprite yet people patronizes this brand and it makes sales like no man’s business.

Price and quality are inextricably linked in the minds of most customers. Price yourself low and customers worry that you cannot be any good. Price yourself high and you may become more exclusive, more experts, more of a draw.

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SELLING THE SMART WAY

The successful entrepreneur is not the one who started a venture for the beauty of bearing the title ‘CEO’. But the one who identifies a problem and proffer necessary solution to such a problem. However, having products and/or services that meet the need of people doesn’t mean customers will come knocking at your door to buy. Having the right product is great but having a smart way to sell is better. If your venture is going to stand the test of time, you really need to get smart about selling what you have.

The greatest recommendation I can give to every ambitious entrepreneur is this; if there is only one thing you can get right, get the selling right. There are businesses that are great at what they do but can’t find a customer to pay for it. The truth is; your newly launched product and/or service will get you excited, but if you cannot get enough customers to pay for it, you will either sell harder or change what you offer.

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THE SELLING STRATEGY OF ALL TIME

An entrepreneur with the mindset of achieving really great results will not just think about what to sell and how to sell; he would also ensure to think about who will buy what he is selling. Some small businesses die because the owner utilizes an archaic concept of marketing – the production concept. Many produce what they feel the society needs and force it on them to buy.

If you must sell, you must be willing to ask questions. The idea of entrepreneurship is the problem solving capability but, the question is; the problem you are solving, is it the immediate needs of the people you are selling to? Before you launch an enterprise, you must sit down and ask yourself;

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