One of the most important decisions an executive sales leader will ever make is in determining a price for their company’s goods and services. Even the most dedicated and talented sales team up to succeed if a business’s merchandise is priced at such a level where in the company doesn’t make a per-unit profit or if its goods are priced too far above market standard to be appealing to consumers.
This Sales Hunter feature offers a detailed guide of how corporations should price of goods to maximize profitability.
The first step outlined in the guide is to set a price that will ensure that the company will have a consistent cash flow. To do this, an executive sales manager should have a detailed understanding of how much it cost to produce all the companies different offerings.
The next step is to perform a detailed analysis of how other companies operating in the same sector price your goods and services. With these two pieces of information, it will be possible to determine a market appropriate price with enough built-in profit to ensure the company’s long-term financial success.
Click the link below to learn more suggestions on how to establish an effective pricing strategy.
Read the full article here: http://thesaleshunter.com/executive-sales-leader-briefing-5-ways-to-determine-your-price/
