Lowest Pricing Does Not Win! Having the lowest price is not a strong position for small business. It positions your product or service as a commodity and obscures any value-add you offer. Personal service and relationship building are key reasons people choose locally owned, independent busineses. Plus, larger competitors with deep pockets, lower operating costs and the benefit of bulk buying could destroy any small business trying to compete on price alone. Pricing strategy is instrumental to success. Take the time to do a deep analysis of your competition, your market and your costs/profit margins. If you start off going low as a way to get into the market it can backfire quickly as you realize your revenue is strong but you are operating at a loss. Need some help developing a pricing strategy that works for your business? Contact Heather at @vanpattergroup today! #biztips#vpgroup#pricingstrategy
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Lowest Pricing Does Not Win! Having the lowest price is not a strong position for small business. It positions your product or service as a commodity and obscures any value-add you offer. Personal service and relationship building are key reasons people choose locally owned, independent busineses. Plus, larger competitors with deep pockets, lower operating costs and the benefit of bulk buying could destroy any small business trying to compete on price alone. Pricing strategy is instrumental to success. Take the time to do a deep analysis of your competition, your market and your costs/profit margins. If you start off going low as a way to get into the market it can backfire quickly as you realize your revenue is strong but you are operating at a loss. Need some help developing a pricing strategy that works for your business? Contact Heather at @vanpattergroup today! 
