Material Handling Pricing Tips

Material Handling Pricing Tips

Material Handling Pricing Tips

Dewitt, NY December 6, 2010: The Fourth Quarter 2010 issue of The MHEDA Journal, the leading online magazine for the forklift, storage & handling, and general material handling equipment industries, focuses on methods for sales success in material handling. One of the strategies is broken down in detail by consultant Rafi Mohammed, Ph.D., who discusses one of the most powerful yet underutilized strategies available to businessespricing. "The beauty of focusing on pricing is that many concepts are straightforward to implement and can start producing profits almost immediately," he says.

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. The MHEDA Journal print magazine is mailed out to subscribers in January, April, July and October. For more information, contact Chris Powers, editor of The MHEDA Journal, (315) 445-2347, e-mail: chris@datakey.org.

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Founded in 1954, the Material Handling Equipment Distributors Association (MHEDA) is the premier source for manufacturing knowledge, education and networking.

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