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  • Pricing for Profit

Pricing, Quality, and the Last U.S. Manufacturer of Marbles

September 25, 2018

Offshoring and video games decimated the U.S. marble industry and left only one domestic manufacturing standing: Marble King in Paden City, WV. How did they do it? They set out to become the best marble manufacturer in the world.

The Death of Subway’s $5 Footlong and the Lingering Pain of a Jingle

September 20, 2018

If you build your brand based on a discounted price, trouble will follow. That’s the lesson of Subway.

Posting Prices and Value Propositions on Your Website: A Property Inspector’s Example

September 11, 2018

Should you post your prices on your website? How do you communicate the value you provide to attract clients who don’t want the cheapest provider, but want the best and are willing to pay for it? Here’s the case of a property inspector who deftly handles these questions.

Matching Vision and Talent: How One Videographer Invites a Value Conversation With Clients

August 27, 2018

How videographer Trenton Carson responds to the “what are your rates?” question from clients . . . and how he invites them into a value conversation.

How to Respond to the “What are Your Rates?” Question

August 23, 2018

You meet a prospect at a networking event, or maybe they find you online. The first question they ask is “what are your rates?” How should you respond? Here’s an answer for that question.

Prices Send Signals to Customers: The Jewelry Store Version

August 20, 2018

“You can signal inferiority and repel, or you can indicate quality and attract your ideal customer. Yes, price persuades.” An illustration from a classic book on influence and persuasion.

“How to Increase Your Prices and Profits”: My Interview on the “Biz Communication Show” with Dr. Bill Lampton

August 16, 2018

Thanks to Bill Lampton, Ph.D., the “Biz Communication Guy,” for having me as a guest on his “Biz Communication Show.” We discussed pricing topics like how to deal with the “I can’t afford you” objection, the need to have a value conversation before pricing your service, and how professional service providers offer intangible value which goes well beyond the service itself.

The Value of a Barber: More Than Just a Haircut

August 15, 2018

Some professional baseball players see enough value in their barbers to fly them around the country (sometimes internationally) to get a haircut. Why? Because these barbers meet some intangible value needs these players have. It’s a reminder that all our customers have intangible needs we meet which go beyond the features of our product or service.

Your Pricing is a Signal to Customers

August 14, 2018

Your prices send signals to customers…sometimes messages you didn’t intend. A master woodworker’s story illustrates the point.

You’re Not Officially In Business Until . . .

August 10, 2018

You’ve had the ribbon cutting and you’ve got customers. Maybe you’ve even turned a profit. You’re still not officially in business until you’ve reached these milestones.

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