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Can you defend your pricing niche against your competition?

Berkonomics

There can be nothing more important in your business planning that selecting the proper pricing niche, making your story clear using that niche, and the defending your position against the competition. Email readers, continue here…] WalMart is known for lowest prices, often for identical merchandise found in other stores for more.

Pricing 226
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Do you take those loyal, key customers for granted?

Berkonomics

And that behavior results in leaving little time for outreach to the most critical component in your chain – your key customers. Then, what is a benchmark for customer outreach? But, do your customer know that they want? Do customers know what they want from their suppliers for future products? Of course, they do.

Customer 120
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Ouch! If I had only learned this before losing millions!

Berkonomics

Know your market and competition, or don’t spend a dime on anything else. The phone could be used for receiving incoming calls when in the restaurant, on the golf course or anywhere. In this case, the competition was not from a company but from a new technology. There is no competition.”

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Should you battle the dragon? Or just avoid the encounter?

Berkonomics

So, when do we know which course to take? Well, even though that acquisition is still playing itself out on the field of battle, it appears quite clear that the new parent has directed its new subsidiary to abandon the lower end of the market and focus upon the larger sales, corporate customers, and major brands. Refuse to engage?

Resource 156
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Recognize your five critical business risks.

Berkonomics

Of course, there are external risks that cannot be controlled or predicted but can be planned for as well – natural disasters, sudden political or economic events that rattle the entire economy, and more. Not only is the enterprise threatened, but confidence is shaken among employees, suppliers, even customers. Third is finance risk.

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Boy! If I had only learned this before spending a million!

Berkonomics

Know your market and competition, or don’t spend a dime on anything else. The phone could be used for receiving incoming calls when in the restaurant, on the golf course or anywhere. In this case, the competition was not from a company but a new technology. There is no competition.”

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“What’s in it for me?” A motivational lesson

Berkonomics

Your employees, your shareholders, your customers, and your suppliers are all driven by this question. Email readers, continue here…] Suppliers need you to be a good customer, to pay a reasonable price for goods or services, to pay your bills on time, and of course to reorder when the time comes.

Customer 120