The Price is Right.
Pricing is always a tough decision for small business owners to make. Price is all about the perceived value of the customer. They can make or break a brand.
Coach sells hand bags, luggage and other accessories at a premium because its customers will pay the price for the brand. Typically Coach customers are not interested in getting a cheap bag. They appreciate receiving special offers from “their” brand. But they don’t want a knock off or imitation product.
Are you ready to determine your product price?