Here is an encouraging news story for small business owners. Pricing is very important for our recession-era, coupon-conscious culture. This New York Times business story explains that when the business owner has to raise his prices to cover his expenses, it's not always a deal-breaker for his customers.
"The fear, of course, is that raising prices will send customers fleeing. While that can happen, many small businesses have raised prices and lived to tell about it.
They echo a common sentiment: setting prices strategically is not just about the numbers. Buyers are not necessarily looking for the best price, said Mark Kronenberg, founder of Math 1-2-3, a New York-based tutoring and test preparation company." - Eilene Zimmerman, New York Times, April 2011
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Tags:
Strategy, Small business, Pricing