InkSoft, Albuquerque, recently offered a tip on value-based pricing, saying it’s possible to make more money if you think about what a product’s value is to the customer instead of basing a price on a percentage markup.
For example, a shop that sells 100% white cotton T-shirts must use cost-plus pricing because of competition, but if the shop offers a moisture-wicking shirt with reflective tape and an eye-catching design, customers will pay more for it, according to InkSoft.
But how do you learn what your clients find valuable? Ask them.
For more information, visit inksoft.com. — J.B.
