Competitive Pricing: Are You Offering Comparable Products and Services?

Earlier today, I wrote an article about how to research your competition and compare various pricing structures. It is important to keep in mind that when you are looking at what other businesses in your industry are up to, that you truthfully consider what products and services you are offering and whether they are comparable. If you are going to charge comparable prices, you really need to be offering comparable services. For example, if you offer housecleaning and maid services, look at your competitors—not just at their prices but the value of the service that a consumer gets for the … Continue reading

Researching Competitive Pricing

As small business owners, we know intellectually that we need to set our prices in such a manner as to be competitive with other businesses in our industry and area, but figuring out how to go about that can be another matter. The first step in establishing competitive pricing for your products or services is to do some research to find out what is going on in your market. Initially, you need to define what your market is and who your competitors actually are. In this day and age, that can definitely go beyond geography. For example, if you are … Continue reading