For far-too-many years, I struggled with how to price my products. Late nights of cursing and crying and worrying were commonplace as I wrestled to get a firm grip on raw material, labor and overhead expenses and then extrapolate a competitive pricing structure from those figures. Enter my tech-savvy husband: I sweet talked my…
Tag Archives: Pricing Strategy
The 2 Most Frequently Forgotten Pieces of the Pricing Puzzle
Lately, my LBU students have been deep diving into some important costing exercises, because the first rule of wholesale is that you can’t afford NOT to know your COGS (cost of goods sold). And this isn’t the sort of thing that you can guess or estimate. This is the very left-brained component of our typically right-brained…