Pricing Masters... an intensive 5-Day
e-mail course on finding the Perfect
Price that will maximize your profit.
If you have a friend who would benefit
from taking this course, please pass
Or tell that person to receive the
5-day course by sending a blank e-mail
it's so "do-able"! Ready
to price with confidence?
Refer to this course whenever you
price new products and monitor or
Print each e-mail out, pour yourself
a beverage of choice, bring along
a pen to jot
down some ideas, and take it all
to your favorite sofa. This is serious
stuff -- pricing makes or breaks
So get into a comfortable spot for
Mon Jan 29 15:57:18 2001
Pricing Masters 101
INTRODUCTION by Ken Evoy, M.D.
The Perfect Price (tm) is that price
that maximizes your profits while
building a lifetime customer through
All the pieces of the business marketing
puzzle fit together in that simple
powerful statement. Over the next
four days together, we will examine
puzzle piece in more detail. We
will learn how to find the Perfect
Price for a
product or service... in today's
or tomorrow's market.
Let's do it.
On the Internet, time waits for no
company. Your customer has access
to tons of information through the
Web. Your competitor is a mere mouse
You have to get the price right...
the first time. In the digital market
there are very few second chances.
is risky. What price is too high?
What price is too low?
we know the right price before starting
out? No way!
Will a certain price work three
months from now? Do you know?
Do you know for sure?
Pricing is the single most important
marketing decision you'll ever make.
You have to know what price you
should charge so that you can promote
effectively and place it into the
hands of your customer.
It's the marketing guide to success!
I had priced our first e-book, Make
Your Site Sell! (MYSS!)
at the ridiculously low price of
US$17 to penetrate a competitive
We wanted to overwhelm our customer
with high-quality information at
that anyone with *any* interest
at all in selling on the Net could
not reasonably refuse.
The result? Huge sales, delighted
readers and MYSS! is known as the
of how to sell on the Net...
While we knew the general strategy
Did we know what effect $5 more or
less would have on the bottom line?
Nope. Did we like that lack of confidence?
Take a minute or a few more... go
back to the computer and do a search
Net for the keywords "pricing"
or "pricing software".
I'll wait right here.... :-)
No surprise that you're back so
soon! There's not much out there
to help anyone,
small or large business owner,to
If you are selling a commodity,
you already know that your profit
to be razor-thin. You are forced
to compete on price.
It's sometimes the only thing that
sets you apart from the field.
Your business operation has to be
seamless. Gaps are too costly.
If you have a proprietary product,
its uniqueness and
benefits have to be recognized as
such by the market. You
have to know if your product has
enough original features to
warrant a higher price than the
cookie-cutters around it.
In my case, for MYSS!, I used the
old tried and true
"gut feeling" to decide
on my price. Not very scientific,
What do you use? The traditional
"bottom up" salad bowl
approach... direct and overhead
costs tossed together with
market pressures before being "dressed"
by the price? A
chat with your salespeople? A look
at the competition's
markup? Is your way any more scientific
or reliable than
mine was? I'd love to hear about
it, if it is. ;-)
OK. I think we agree that pricing
is critical to our
businesses. It's the only part of
our operating equation
that brings money into the company
and into our individual
pockets. It's the P that "extracts
the value" out of the
perceived value that you create
through the product itself,
and through your promotion of it.
Because of that, the right price
for a product or service
has to be a top priority. The Perfect
profits... and income is what it's
all about at the end of
a business day.
Luckily for you, but definitely
not for your competition,
you're on your way to success. After
this 5 day e-mail
course, you will know how to determine
the right price. You
will know how to *find* the Perfect
Price. Not bad for such
a short time commitment!
here's your homework for today.
Examine your business
using the 4 P marketing magnifying
1) Look at your Product. What do
you sell? What does your
customer buy? What are its major
benefits? How important
and unique are they?
2) Look at your Promotion. How do
you promote your product
3) Look at your Place. How do you
ship from place A to
4) Look at your Price. How do you
decide on which price to
charge? How did you decide on your
"macro" pricing model
(ex., penetration-pricing or high-priced
model) and how did
you choose the exact number?
Write down your answers before you
receive the next issue.
Do you feel confident about your
price? Will your feelings
be the same two months from now?
If you upgrade or modify?
See you tomorrow. I'll leave you
with this picture of
imprecision and its consequences...
have heard of a man who had a mind
to sell his house, and
therefore carried a piece of brick
in his pocket, which he
showed as a pattern to encourage
-- Jonathan Swift (1724)
P.S. While you're waiting for tomorrow's
review the MYPS! Web site so you
have a solid idea of where
we'll be going over the next four
Please -- save this e-mail. So many
people ask us
for "back issues" when
they realize how strong the whole
course is -- but it's all automated.
Print them all and
refer to them again and again whenever
you need to give
pricing some thought...
... which is ALWAYS!
To unsubscribe, send a blank e-mail
NOTE: You must send it from
the same e-mail address that is
subscribed to this 5-day course.
Contact info: E-mail us at [email protected]
Written by Ken Evoy, M.D.
(c) copyright 2000, 2001 SiteSell.com
Perfect Price and Teeter TM GoodBytes.