Make Your Price Sell!, The Masters Course

Make Your Price Sell!, The Masters Course
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1. Introduction
The successful producer of an article sells it for more than it cost him
to make, and that’s his profit.
But the customer buys it only because it is worth more to him than he
pays for it, and that’s his profit. No one can long make a profit
producing anything unless the customer makes a profit using it.
--Samuel Pettengill, U.S. Congressman 1930’s
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 click away. You
have to get the price right... the first time. In the digital market scene, there are
very few second chances.
Pricing is risky. What price is too high? What price is too low? Will a certain price
work three months from now? Do you know? Do you know for sure?
Pricing is one of the most important marketing decisions you will make. So much
hinges upon it…
If you are selling a commodity, you already know that your profit margins have to
be razor-thin. You are forced to compete on price. It’s sometimes the only thing that
sets you apart from the field. And your business has to be seamless in its
operation. 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.
Perhaps you are considering a new product concept? Not sure if it will fly? Imagine if
you could know how much exactly people would pay for it. You’d know if this new
idea would be worth pursuing... or not (just think of the dollars and time saved).
Launching a new product? How will you price it? How do you know the absolutely
perfect price -- the price that will maximize your income, right from the outset?
What about existing products that you sell? Market conditions change rapidly -- is
your pricing up-to-date? Smart pricing maximizes returns, at launch and all the way
through the product maturation cycle.
And what do you know about your customers’ Net buying habits? How many buy
this kind of product on the Net? How much do they usually spend?
All of this is critical information to have before you begin to set a price. But here’s
the rub…
For the small business owner, pricing guidance, as well as pricing solutions, are
limited on the Net -- unless you have deep pockets and can afford expensive
consultants or software packages.
Until now, that is…

Make Your Price Sell!, The Masters Course
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Make Your Price Sell!, The Masters Course is your pricing “beacon of light.” It
provides you with the pricing theory and strategies you need to know in order to
determine the best price for your product – the “perfect price” that maximizes profit
for you… and for your customer.
Sam Pettengill clearly understood the importance of this win-win situation…
The successful producer of an article sells it for
more than it cost him to make, and that’s his profit.
But the customer buys it only because it is worth more
to him than he pays for it, and that’s his profit.
No one can long make a profit producing anything
unless the customer makes a profit using it.
In other words, if you put your need to make money before the needs of your
customers, you’re doomed. Customer satisfaction can make or break you.
The power of customer satisfaction, however, goes beyond the realm of pricing. So
before we continue with the course, let’s zoom out and get a “big picture” view of
your future…
Customer satisfaction is an essential part of your overall, online, success equation…
Great Product + Perfect Price + Right Process + Satisfied Customer = Success
Achieve the first three, and the other two automatically fall into place!
It’s easy to understand why Great Product is part of the equation. No explanation is
needed! And Sam has nicely helped us to understand how Perfect Price fits into the
picture (of course, after you complete Make Your Price Sell!, The Masters Course,
your understanding will be even clearer!).
So this brings us to the Right Process…
Most online businesses (about 98% or so), die quiet deaths of desperation due to
the wrong process. Many still believe in the offline mantra...
“Build it and they will come.”
And that works offline because of...
“Location, location, location.”
Put up a nice store in a mall or on the main street in your town... and the traffic comes
flowing in.
Not on the Net… cyber life is much different.
People on the Net are not looking for you – if they knew you existed, they would
already be customers. People search for information, content, solutions about an
infinite variety of niches.

Make Your Price Sell!, The Masters Course
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Most small businesses fail on the Net because they prepare to sell