Justifying Your Products Pricing
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Watch the video above To Justify Your Products' Pricing
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Lesson Summary:
You may have a great product or service but it’s going nowhere until you convince
your prospects that they need it, want it and can afford it.
There is an industry standard price and your customer's resistance ceiling price. Your price needs to fit somewhere between these two, closer to the ceiling price.
What you'll learn in this Lesson:
- The importance of selling benefits and not features.
- How to raise your value and your price is never too high.
- Why you should not be industry standard.
- What special advantage do you offer for a higher price?
Downloads/Resources
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Frequently Asked Questions
How do I find out the industry standard price?
Google a few websites with the same or similar products for their pricing, then calculate an average price from these various results.
How do I know when my price is too high?
The marketplace will resist to pay it and prefer to negotiate a discount.
What makes my price affordable?
Emphasize the benefit your customer will receive from using your product - apply the "what's in it for me?" or "so what?" principle - and your price will never be too high.
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Fran Piggott
Instructor
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I look forward to answering
your questions.