|Don't Make Your Products Cheap by Goodboy(m): Sun 15, May, 2022|
Customers ain't necessarily looking for cheap price, they are looking for affordability.
You simply need to device a means to make your products and service affordable and not cheap.
Sachet peak milk contains 16g of milk and is sold for N50 while the 900g tin powdered peak milk is sold for N2700 or N2750.
56.25 sachets will make up 900g of the tin milk. 56.25x N50 =N2812. 5
That is, in the real sense, you spend more buying Sachet milk than the big tin milk.
What they simply did was to make the milk affordable to all categories of customers not cheap.
There are many variables to put into consideration before pricing your products. You consider your target market, their buying power, ability and willingness to pay etc.
Wrong pricing can affect the patronage you receive. Don't think a cheap price is a solution.
Be strategic in pricing.
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