For some reason people think that to make money, they should lower their prices to attract more customers. All that they are doing is reducing margins that must then be made up by getting more of those customers. It’s a self-defeating game for small business owners – you won’t get the same scale of customers as Wal-Mart, which needs millions of buyers to supplement their low-cost formula.
Well, Charley and Mike have some price strategy advice to help you increase profits through altering (even raising) your prices.
This kind of information can help you figure out how to develop a scaled pricing system that encourages high profits through better margins.
So, grab yourself a few biscuits and some sweet tea to enjoy this week’s episode of the Make Marketing Happen podcast!
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