In this BAPIA News post series we’re sharing tips on how to price for profit confidently. If you missed Part One on breaking even, click here to give it read first and then come back!
The key to setting healthy profit margins confidently is to remember that what something cost you and what it is worth are two very different things. The very existence of the luxury goods market proves that people are willing to pay more than simply the sum of ‘raw materials + time taken’ if they perceive the final product/service to have added value. We say it often here at BAPIA; you’re not just selling balloons, you are selling joy and it’s the value of that joy which is what you’re pricing.
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