28 Apr '16, 5pm

The Perils of Underpricing Products & Services - my latest for the @GoDaddy Garage# Blog

As a business owner, you’ve probably had encounters with price-sensitive customers. There are plenty of them out there, and they can prompt you to second-guess your pricing strategy . I understand that it’s sometimes difficult to know how much to charge for your products and services. After all, you don’t want to price yourself out of the market and send prospects running to your competition. But as detrimental to business as having prices considered too high might be, there’s something potentially far worse — underpricing your products and services. The perils of underpricing While “overpricing” your products and services might put you at risk of losing a sale, underpricing can be equally, if not more, devastating to your business. Here’s how: Underpricing gives you no wiggle room to negotiate. When you quote your lowest possible price directly out of the gate, you have n...

Full article: https://www.godaddy.com/garage/smallbusiness/manage/peril...

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