Often in business one of the areas that often missed in the heady mix of marketing and sales ideas – is how often we should or could test the price of the product or service being sold.
So often it easy for business people to get into the habit of think that the market place will only respond to this month’s special offer or today’s price reduction or discount.
And yet – when we constantly discount the product we set market expectation and can train our customers to wait for the discount day.
I know of one Seminar Company that experiences this problem – as the day draws ever closer for the event – the price of the tickets goes down. As the seminar has a heavy back of the room sales turnover – often getting people to attend for free is still a viable option.
Authored and contributed by: Peter Thomson