1. Money

Product Pricing

How much markup should you put on a product? What's the right retail price point for your industry? What will be your return on investment for a certain product line? Get answers to these and other product pricing questions.

Good Pricing Practices
The Federal Trade Commission says it can be relatively easy to improve pricing practices -- and in the process, boost customer satisfaction, your bottom line and compliance with the law. Here are their step-by-step suggestions.

Loss Leaders
Loss leaders are goods or services offered at steep discounts (generally below cost) in order to attract new customers to a store. The intent is to not only have the customer buy the sale item, but other products that are not discounted.

Pricing and Small Retailers: Questions to Consider
One of the most crucial areas of decision making for retailers is pricing. Yet, we have found that small firms often do not have well-conceived pricing plans. Joel R. Evans, Ph.D. and Barry Berman, Ph.D. has prepared this six-part series on pricing. They offer a number of tips to help you improve your pricing decisions.

Pricing and Small Retailers: Questions to Consider
One of the most crucial areas of decision making for retailers is pricing. Yet, we have found that small firms often do not have well-conceived pricing plans. Joel R. Evans, Ph.D. and Barry Berman, Ph.D. has prepared this six-part series on pricing. They offer a number of tips to help you improve your pricing decisions.

Pricing Your Products
Many pricing strategies exist and each is used based on particular a set of circumstances. Besides cost, some of the things to consider when choosing the best strategy for your retail business are the market, the channels of distribution and the competition. Here are a few of the more popular pricing strategies to consider.

Retail Term: Keystone
Keystone pricing is a method of marking merchandise for resell to an amount that is double the wholesale price.

Retail Term: Markup
A percentange added to the cost to get the retail selling price.

Retail Term: Minimum Advertised Price
A suppliers pricing policy that does not permit its resellers to advertise prices below some specified amount. It can include the resellers retail price as well.

Retail Term: Profit Margin
A ratio of profitability calculated as earnings divided by revenues. It measures how much out of every dollar of sales a retail business actually keeps in earnings.

Pricing Mistakes and How to Avoid Them
Which feature of your product does EVERY buyer ask about? Which sales tool is your best closing device? Which feature immediately differentiates you from your competitors? You guessed it, your price. Guest article from About Marketing.

Pricing Strategy
One of the most difficult, yet important, issues an entrepreneur must decide is how much to charge for his product or service. Your Guide to Entrepreneurs, Scott Allen explains some of the factors that you need to consider.

You can opt-out at any time. Please refer to our privacy policy for contact information.

©2014 About.com. All rights reserved.