Small Business Focus

How to set your pricing

It's easy to find yourself considering hiking the price of your product, especially when you think you're the only supplier in your market. However there are factors to consider before deciding to increase your mark up.

Small business guru Pavlo Phitidis speaks on how to know when the price to your products is just right.

You've got to consider four things when you do pricing on whatever the product is: The Cost of the product; Fixed costs of operating the business; Competition and how does a customer perceive value in what you're offering?

Pavlo Phitidis, Aurik Business Accelerator

Keeping the price as low as possible doesn't create an incentive for competitors to enter the market and it doesn't create an incentive for government to regulate

Pavlo Phitidis, Aurik Business Accelerator

The Money Show's Bruce Whitefield interviewed CEO of Aurik Business Accelerator, Pavlo Phitidis in his weekly Small Business Feature

When you launch a new business you need to try draw that arrow and hit the target

Pavlo Phitidis, Aurik Business Accelerator

Very often people want to make simple decisions because simple decisions make them feel like they are in control, so limit choices.

Pavlo Phitidis, Aurik Business Accelerator

Anything above 10% increase on the price of a product starts to create doubt in the mind of consumers.

Pavlo Phitidis, Aurik Business Accelerator

Listen to the full interview below

Click here(then "like" the page) to follow Bruce of Facebook


Recommended

by NEWSROOM AI
Read More
‘Americans are brilliant at consumerism! Brilliant!’ (lessons from the US of A)

‘Americans are brilliant at consumerism! Brilliant!’ (lessons from the US of A)

Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis for his weekly small business feature.

'How we do business here is very different to how they do business there'

'How we do business here is very different to how they do business there'

Aurik Business Accelerator’s Pavlo Phitidis reports back from the "mind blowing" three-day GrowCo conference in New Orleans.

How to start your own business (by a guy who started his with almost no money)

How to start your own business (by a guy who started his with almost no money)

The Money Show’s Bruce Whitfield interviews NicHarry founder Nic Haralambous.

How to turn a hobby into the business of your dreams

How to turn a hobby into the business of your dreams

Small business guru Pavlo Phitidis gives advice to a listener who has an opportunity to turn a tiny business into a massive one.

Family business succession - what often goes wrong (and how to get it right)

Family business succession - what often goes wrong (and how to get it right)

Mind the generation gap! The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

How to break a deal without scorching the earth

How to break a deal without scorching the earth

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.

Popular articles
Why the PAC wants South Africa renamed Azania

Why the PAC wants South Africa renamed Azania

Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.

Is the lovable Winnie The Pooh a boy or girl?

Is the lovable Winnie The Pooh a boy or girl?

A trending Twitter debate has left social media users arguing over whether Winnie the Pooh is a girl or boy.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

Douw Steyn is one of Africa’s richest (yet you may not have heard of him)

Douw Steyn is one of Africa’s richest (yet you may not have heard of him)

Bruce Whitfield interviews Forbes Africa's Chris Bishop to find out more about this lesser known South African billionaire.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?