41. Prices: The “price points” in which you will operate in the market - PDF ONLY
The Three Paradigms of Prices - Exchange, Perception, Benefits
As a business consultant, I am often asked by my clients… “What should I set my price at for my product and services” or “How much should I charge for what I sell”. The short answer is “whatever the target market is willing to pay”. With that simple answer being stated, let’s develop a more useful and robust answer.
“I would highly recommend Shawn Jackson and his office. I was involved in a very stressful and possibly costly legal matter, that Mr. Jackson was able to assist me with. At all times I felt that he had my best interests at heart". Mark
Determining the selling price can be based upon a “value perceived by the target market” basis or a simple “cost plus” basis with either method subject to change or modification according to market demand and conditions. Although this is not always scientific or true in all cases, the most successful businesses tend to be managed by sales and accounting teams while the best sales growth companies have a vision oriented leader in command.
The “value as perceived” [i.e. VAP] and “benefits as received” [i.e. BAR] basis is used to set selling prices according to the amount your customers within the identified target market will pay for the product/service as “perceived” in the value of the exchange [see Paradox of a Sale chapter].
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A strong marketing message is critical when using the VAP basis since the benefits a customer will derive from purchasing the product is “perceived” and “compared” with alternative “benefit suppliers” and the other options available to your customers. Please keep in mind that other “compared” options do not necessarily mean just within your business or type of product or service.
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2017 Business Blueprint For Success CHAPTER 41 PRICES 070717 PDF
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About the instructor
Senior Instructor
Shawn Jackson
Shawn R. JacksonBusiness Development ConsultantShawnJackson @BusinessBlueprintSuccess.com Mr. Jackson is a highly accomplished and results oriented Attorney & Instructor with over thirty years of broad-based sales/business development and marketing experience. He consistently receives excellent responses and results. His exceptional analytic, planning and organizational abilities coupled with excellent leadership, presentation and interpersonal skills and a dedicated work ethic creates an opportunity for businesses to grow and prosper. BUSINESS DEVELOPMENT ATTORNEY - 18 YearsHis experience includes consulting and transactional business development both in private practice and with various Community Chambers. His private practice includes business development and compliance issues for general corporations, close corporations and Limited Liability Companies. He has assisted multiple clients on legal formation, compliance and business structure, systemic development, strategic business growth and both National & International negotiations. Incorporation Startups including “C” Corps, “S” Corps & LLC’s Transactional Business Law, Intellectual Property, Contracts Contract Disputes, Real Estate Disputes Law and Business Development Center Alternative Dispute Resolution Empire Law School (cum laude) BUSINESS OWNER - 38 YearsHe has developed successful businesses for over 30 years with in-depth experience in manufacturing, retail and employee development skills. He is an astute, results-oriented leader with proven success in managing retail teams and achieving profitability within 90 days of the commencement of the venture. Owned & Operated Wholesale/Retail/Manufacturing Businesses since 1975. Developed Successful Business Teams Sales Training & Business Development for National Manufacturer Board of Directors: Rohnert Park Chamber of Commerce"It is not often that I feel compelled to send a message of thanks to someone who has done a service for me, but I feel that you have really stepped up and gave more than what was expected throughout the process…. You were patient, compassionate, and professional. Thank you!" BUSINESS DEVELOPMENT CONSULTANT - 28 YearsMr. Jackson formulates and executes sales strategies, business plans, and marketing programs that are responsive to a rapidly-changing market. His efforts have focused on market expansion campaigns, product launches and account penetration. He has extensive expertise in consultative sales development and presentation of complex programs, products and solutions. Written, Designed and Implemented multiple Business Plans Instructor (Contracts, Business Organizations & Negotiation) Designed & Implemented multiple Systemic & Strategic Marketing Plans. Worked with the Target Corporation and Vendors for nationwide expansion. National and International Business Contract Development & Negotiation Worked with National Animal Rights Non-Profit Organization NEGOTIATOR - 30 YearsMr. Jackson has a demonstrated history of sound judgment and effective decision-making abilities with a distinction for managing high-level negotiations among senior management and achieving mutual and workable solutions to complex problems and profitable projects. Negotiated multiple Licensor/Licensee Contracts in the United States. Negotiated Contracts with Principals in South Africa, United Kingdom.Hong Kong, Beijing, Belgium, Canada and the United Arab Emirates. Negotiated Intellectual Property Agreements with national companies EXPERIENCED INSTRUCTOR - 20 YearsHe consistently receives the highest marks from students and fellow instructors. He provides a dynamic and interactive class with substantial class participation. Mr. Jackson understands that students will absorb and apply more education when they can see it, hear it, feel it and speak it. He also understands that education is, in part, entertainment, so humor is an important part of teaching. Business Development Training (a 7 week course and a 12 week course) Workshop Instructor “Today’s Business Law”, “Negotiation Strategies for Success”, “Choosing your Legal Entity” Business Development Trainer; teaching entrepreneurs to be more successful.