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10 Ways SMBs Can Maximize Profit

Stax

Then you should do market research to figure out what other businesses are charging and what customers are willing to pay. While not all businesses can surcharge due to legal restrictions or customer preferences, for some, it can be an effective way to offset processing costs and keep more money in their pockets.

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Bundle Pricing: Definition, How It Works, and Best Practices

Stax

For example, Microsoft offers Microsoft Office 365 as a bundle of its popular office software productivity apps, while still letting customers buy standalone versions of Microsoft Word, Excel, and others at their individual prices. The only way to know what your customers want is via market research.

Pricing 88
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Developing a Pricing Strategy: 7 Types of Pricing and How to Implement Them

Stax

It is also known as markup-pricing, and unlike software development where you develop one product and resell the same product to multiple customers, it’s practically only applicable to physical products that require you to invest capital to produce each product unit. How do you want to position your brand in the market?