Setting prices

Getting your prices right is essential. If they're too high, you'll put off potential customers. Aim too low and you'll throw away potential profit.

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ARTICLE

Setting prices - overview

Setting prices is a crucial task and getting it wrong can be disastrous for your business. Find out how to set prices to maximise profitability.

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Price your product or service

Your prices can have a dramatic effect on sales and profits - the right price is competitive while protecting your profit margins. Our overview.

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Don't compete on price

Competing on price threatens your margins and your reputation. Ben Dyer explains why small business owners should avoid price-cutting.

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A guide to price comparison websites

Price comparison websites are valuable tools to help you analyse competitors and check out price fluctuations. We guide you through the key sites.

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Choose a pricing strategy

Pricing is one of the most important aspects of your business to get right. Find out what you need to do before putting a price tag on your product.

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How to price your service

Pricing a service can be trickier than pricing a product. Getting it right means accurately valuing your time and expertise. Pick up other advice.

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Keep up with competitors' price cuts

What do you do when your competitors drop their prices? Just because your competitors have, it doesn't mean it's the right decision for your firm.

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FAQS

Pricing FAQs

Need-to-know answers to ten questions frequently asked by small-business owners when they need to set prices for their products or services.

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Seven ways to price your product

Ask people to pay too much and they will stop buying: too little and your profit margin slides. Here are 7 ways to price your product accurately.

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ARTICLE

Ten ways to increase your margins

Firms are always searching for ways to trim their costs and increase their revenue, in good times and in bad. Make your business leaner and fitter.

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Why value-based pricing works best

Value-based pricing is about coming up with a price that your customers are willing to pay. Pricing strategist Mark Stiving explains.