Small Business Focus

How to set your pricing

It's easy to find yourself considering hiking the price of your product, especially when you think you're the only supplier in your market. However there are factors to consider before deciding to increase your mark up.

Small business guru Pavlo Phitidis speaks on how to know when the price to your products is just right.

You've got to consider four things when you do pricing on whatever the product is: The Cost of the product; Fixed costs of operating the business; Competition and how does a customer perceive value in what you're offering?

Pavlo Phitidis, Aurik Business Accelerator

Keeping the price as low as possible doesn't create an incentive for competitors to enter the market and it doesn't create an incentive for government to regulate

Pavlo Phitidis, Aurik Business Accelerator

The Money Show's Bruce Whitefield interviewed CEO of Aurik Business Accelerator, Pavlo Phitidis in his weekly Small Business Feature

When you launch a new business you need to try draw that arrow and hit the target

Pavlo Phitidis, Aurik Business Accelerator

Very often people want to make simple decisions because simple decisions make them feel like they are in control, so limit choices.

Pavlo Phitidis, Aurik Business Accelerator

Anything above 10% increase on the price of a product starts to create doubt in the mind of consumers.

Pavlo Phitidis, Aurik Business Accelerator

Listen to the full interview below

Click here(then "like" the page) to follow Bruce of Facebook

Read More
How to set goals and plan when the world is ever-changing

How to set goals and plan when the world is ever-changing

Should you even try? The Money Show’s Bruce Whitfield interviewed Aurik Business Accelerator’s Pavlo Phitidis.

Finished school? Consider this post matric entrepreneurship gap year

Finished school? Consider this post matric entrepreneurship gap year

Entrepreneurship guru Allon Raiz discusses what could be a life changing option for school-leavers.

Wanna start a business? Here's 2016 most-read small business articles

Wanna start a business? Here's 2016 most-read small business articles

These were the most popular articles from Aurik Business Accelerator's Pavlo Phitidis' weekly entrepreneurship feature.

6 techniques you can use to get funding to start (or grow) a business

6 techniques you can use to get funding to start (or grow) a business

Small business guru Pavlo Phitidis discusses the techniques, how they work and how to get them right.

How to raise funding (at each stage of your business’ growth)

How to raise funding (at each stage of your business’ growth)

The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.

How to overcome the fear of failure (and other tips from a serial entrepreneur)

How to overcome the fear of failure (and other tips from a serial entrepreneur)

Nic Haralambous knows a thing or three about starting a small business with almost no money. He offers this advice…

Popular articles
Hooters introduces 'angel shots' to rescue women from dangerous dates

Hooters introduces 'angel shots' to rescue women from dangerous dates

Hooters SA has introduced the ‘Order an Angel Shot’ initiative for female customers who are feeling unsafe during a date.

Naked Scientist explains why mosquitoes 'discriminate' who they bite

Naked Scientist explains why mosquitoes 'discriminate' who they bite

Dr Chris Smith explains why some people are more desirable than others to mosquitoes.

5 red flags to spot a Netcare job scam

5 red flags to spot a Netcare job scam

Don't fall prey to a fake job scam circulating on social media, warns healthcare group Netcare. Here's what to look out for.

Listeners ask ‘why not use drones to fight fire?’ A drone expert answers…

Listeners ask ‘why not use drones to fight fire?’ A drone expert answers…

The CEO of IntegriSense & DroneClouds on the issue of using drones to fight fires in and around Cape Town.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.