Issue link: https://docs.hic.us/i/403552
The pricing strategy should consider the following concepts: • pricing techniques and brief description of these • techniques • retail costing and pricing • competitive position • pricing below competition • pricing above competition • price lining • multiple pricing • service costs and pricing (for service businesses only) • service components • material costs • labor costs • overhead costs D. Customer Service Special attention must be given to determining how to service your customers. Depending upon the market, you may have to consider offering credit terms. As well, you need to develop policies and systems for handling your customers needs. Identify these areas of customer service: • Customer cares services that you will provide to your clients. • Sales and credit terms. • Identify the competitions customer service policies E. Advertising And Promotional Strategy Develop a promotional strategy that uses various media for promoting your business. Monitor the different media identifying those that most effectively promote your business. Concentrate on developing material for these formats that clearly identifies your goods or services, its location and price. Consider the following promotional concepts: • advertising media • print media (newspaper, magazine, classified ads, Yellow Pages advertising, brochure) • radio • television • networking • business cards • tee shirts, hats, buttons, pens www.hsi.us care@hsi.us 56