Goodwill presentation product pricing

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Goodwill presentation product pricing

  1. 1. Abraham Jankans, Founder and CEO Startup Market Analysis and Pricing
  2. 2. How Do I Know What I Need To Find Out? • You Don't Know • You Have To Start Asking Questions • Start a focus group • Build a network of professionals in the field • Entrepreneurs Have To Be Very Inquisitive
  3. 3. How Important Is It to Check Out What The Competition Is Doing? • It's Very Important! • Build partnerships with your competition • Maybe you can learn from them • Maybe you can do business with them • The best strategy is to have a competitive advantage • Medicine vs. Vitamin
  4. 4. What Can Marketing Consultants Do For A Small Business With Very Little Start-Up Capital? • Conserve Cash-Capital - Have a "Low Burn Rate" • Try to leverage "Human Capital" • Outsource non-essential tasks (If you can afford to) • Be your best sales person • If you don't know how to sell, Learn!!!
  5. 5. How Do You Decide On The Right Price? • Again, is it a Medicine or Vitamin • Medicine - What are the savings provided to the customer. If you saved them $100, charge them $95 • Vitamin - Market & efficiencies really determines price • Go to your focus group? How much would you pay for my product or service? • Don't try to be the cheapest. Race to the bottom!
  6. 6. How Did I Learn About Pricing? • "Google It" - If you can't find it, you are not looking! • How did I learn pricing strategies - Connected with other successful entrepreneurs and read books!
  7. 7. How Does Pricing Affect Your Business Brand Identity? • It's shouldn't - You've got to always be seeking out ways to differentiate your business. • Apple Computers - Not the best, but they are the most expensive and most successful • Can you come up with a unique pricing model? • Example - T-Mobile: No-contract, unlimited service, one flat rate! • Example - Indian Street Vendors
  8. 8. What Challenges Did I Have Pricing My Product • govtHub.com - We're still developing the pricing model. • Maintaining Consistency - Customers appreciate consistency.
  9. 9. Resources • Research • Contractors • Newport Beach Public Library • Free Wi-Fi • elance.com • Free audio books • google.com • Virtual Assistance • Learning www.ivaa.org • iTunes University - Free Podcasts • Stanford Entrepreneurial Thought • Essential Reading Leaders Podcast • PersonalBrandingBlog.com • 4 Hour Work
  10. 10. Questions?

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