ProfitSURGE - Building Better Regional Businesses
Pricing for Profit
1. Introduction 7m 20s
In the introduction Philip Arnfield asks you to set a target for the profit improvement you will achieve as a direct result of the implementation of the strategies outlined in this course, he also invites to join his Pricing Strategy Masterclass.
2. Understanding the Impact Price has on Profit and Cash Flow 2m 26s.
In the second session Philip compares the impact of a price increase of 10% relative to an increase in sales volume and a reduction in expenditure of the same proportion and talks to the fear business owners experience when contemplating increasing the price they charge.
3. Realising Customers Are Not as Price Sensitive as Business Owners Think They Are 3m 19s.
Philip illustrates the critical difference between customers not wanting to spend more than they have to, and price sensitivity!
4. Plumbers Prove Price is Not an Issue 2m 43s.
A group of owners from the same industry, servicing the same market charge widely different prices, if customers are price sensitive, how is this possible?
5. Knowing the Real Reason Customers Ask "How Much Do You Charge?" Will Prevent You From Responding in the Wrong Way 3m 8s.
Philip explains the "How Much?" question is more about defense mechanisms rather than price sensitivity.
6. Taking Control of the Conversation About Price 2m 50s.
Adopting a similar tactic used by expert sales professionals will allow you to discover the reason a prospective customer is considering buying from your company and what, other than price, motivates them.
7. Customers Regularly Volunteer to Pay Higher Prices. Are You Creating the Circumstances to Are You Creating the Circumstances to Create this Behaviour? 5m 06s
If you are not, you are missing out on tens of thousands of dollars in lost profits - every year!
8. How Good Better Best & Comparison Pricing Can Build Profits 3m 58s.
After you establish a floor price, the decision of how much to spend is a choice better left to the customer rather than the vendor!
9. Looking at Your Price From the Customers Perspective. 2m 3s.
In this lesson Philip demonstrates what may be small price increases for customers can transform the profitability of a business.
10. Using a Safety Harness to Strengthen Your Pricing Resolve 3m 5s
Download the Margin Table