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Follow on Google News | Material Handling Pricing TipsSetting the right price is a key to success in the material handling industry.
By: Chris Powers According to Mohammed, “A McKinsey & Company study of the Global 1200 found that if companies increased prices by just one percent and demand remained constant, operating profits on average would increase by 11 percent.” Mohammed then lists 10 proven strategies to reap higher profits, generate growth and better serve customers. The 10 tips are: • Stop marking up costs • Set prices that capture value • Create a value statement • It’s OK to earn high profits • A discount today does not guarantee a premium tomorrow • Customers have different pricing needs • Provide pick-a-plan options • Offer product versions • Offer differential pricing • Complete your customer’s puzzle. As Mohammed describes, proper pricing is fertile ground for new profits. The full text of the article, “10 Tips To Better Pricing,” is available at The MHEDA Journal Online: http://www.themhedajournal.org/ # # # About MHEDA Founded in 1954, the Material Handling Equipment Distributors Association (MHEDA) is the premier source for manufacturing knowledge, education and networking. Through its member journals (http://www.TheMhedaJournal.org), e-magazines, newsletters, and industry wiki (http://www.wikimheda.org) End
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