When someone enters a business or when an already established business expands into a particular market, the general idea is playing safe would be the best.
This is the reason why businesses end up pricing their product or service competitively. This idea may be good sometimes, but it is not always healthy to cut down your prices.
Ronn Torossian explains why this pricing arrangement is not always good. First of all, he says that there are competitors in the market who can always undercut you at any points. He also says that price is not always just about the price in monetary terms, it is more about the perceived value.
Before launching a product or service in the marketplace, one should assess the perceived value among the target audience. This is where PR plays its role.
PR works to improve the perceived value of the product. If somehow your PR campaign manages to do so, it is likely that your business will grow, even if you haven’t decreased the prices. To know about Ronn Torossian book published at Amazon.
This is the reason why businesses end up pricing their product or service competitively. This idea may be good sometimes, but it is not always healthy to cut down your prices.
Ronn Torossian explains why this pricing arrangement is not always good. First of all, he says that there are competitors in the market who can always undercut you at any points. He also says that price is not always just about the price in monetary terms, it is more about the perceived value.
Before launching a product or service in the marketplace, one should assess the perceived value among the target audience. This is where PR plays its role.
PR works to improve the perceived value of the product. If somehow your PR campaign manages to do so, it is likely that your business will grow, even if you haven’t decreased the prices. To know about Ronn Torossian book published at Amazon.
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