The Professional Pricing Society is a member-centered organization providing full resource support to both pricing professionals and executives seeking solutions to their pricing challenges. PPS consists of over 1,000 current members, worldwide. PPS provides both strategic and information resources to our members. The primary goal of business is to make a profit. Many small businesses fail to do so because they do not know how to price their products or services.
Pricing is the critical element in achieving a profit and is a factor that all firms can control.
Before setting your prices, you must understand your product's market, distribution costs, and competition. Remember, the marketplace responds rapidly to technological advances and international competition. You must keep abreast of the factors that affect pricing, and be ready to adjust. The SOHO Guidebook to Packaging and Pricing Pricing must reflect not only your costs to produce the product or service at the expected volume, but also the value your customers place on what you offer. What's more, price is a way to differentiate your business from others, especially in the consumer market.