Businesses spend a great deal of time on PRICING and if its the right time to put a price up or a price down. To do this you need to understand the concept of price banding. This will depend on your location, democraphics and your opposition.
- POSITION THE PRODUCT: This is to attempt to influenece the preception the customer has of your product. As a guide, the higher the quality profile a products has, the more the customer is prepared to pay for it.
- CONSIDER THE IMPACT BEFORE INCREASING THE PRICE : Everything you do should be measured. Raise your price only when you understand the impact on sales. The motor vehicle industry does this very well.
- DO YOUR HOMEWORK WHEN SETTING PRICES: Your preception of value and the customers perception of value can differ. When doing research consider these factors of
- CATER FOR CUSTOMER BUYING HABITS: Customers use the internet and come in very informed to a store when marking a purchase. This is where they percive value for money. many of your younger customers are Tech Savy and buy on line expecting to get more value for money based on the sellers lower costs.
Rhod trading offers an excellent quality Fibre cement product and plasterboard of international quality at the most cost effective prices. There is no doubt that these products offer value for money and are percoeved as such by builders, contractors and the general public. Contact Rhod Trading on 0824140433 for a value for money quote.
