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Professional Women's Business Network
Meetings
Various Dates
For more info: PWBN
Lower Bucks Chamber Bucks Business Connect
Thursday, August 9
8:00-9:15 am
RSVP: LBCCC
Central Bucks Chamber
Annual Golf Outing
Monday, August 13
10:30 am - 6pm
For more info: CBCC
Lower Bucks Chamber
Business Card Exchange
Wednesday, August 15
4:30-6:30 pm
For more info: LBCCC
Central Bucks Chamber Business Card Exchange
Wednesday, August 15
5-7 pm
For more info: CBCC
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Strategic Partners
Management & Human Resources Consulting Advertising & Graphic Design Creative Agency Graphic Design Graphic, Web & Email Design |
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Greetings!
Summer is a great time for planning. With many people taking vacations during this season, business may be a little less hectic. Use this time for strategic thinking about your goals and how you see your business growing. Then, make a list of the top 5 ways to start on those goals in 3rd and 4th quarter.
Look for more details on our "Marketing Matters" seminar series in the Fall. The series covers networking, marketing and other business topics to help you succeed. You'll find topic overviews highlighted below in the "Newsworthy" section.
At Richard Associates, we work with businesses to develop marketing strategy and specialize in marketing program execution to help make your business as effective and successful as it can be.
If you'd like to improve your marketing efforts, I encourage you to call or email us to find out how we can partner with you to get results.
Wondering how to price your product or service? You'll find some hints in "Jumpstart Your Business" below. There's also a list of local networking events, a networking tip, and links to articles I think you will find interesting. Enjoy!
Best regards,
Susan Richard
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Price
Determining the price of your product or service is a challenge. It needs to be high enough to create a profit for your business and low enough that your target audience is willing to buy it. How do you know if you are charging the right price?
Objective
Consider the objective for your pricing strategy.
Profitability
With this strategy, you are aiming for the highest revenue with the least increase in your costs. Some companies use target-return which sets goals as a percentage of sales.
Volume
The volume strategy emphasizes sales numbers over high profits. A minimum acceptable profit level is determined with the idea that sales volume is critical in the competitive environment to increase your market share.
Competition
The basis of this strategy is to meet major competitors' pricing. In order to achieve it, companies need to stabilize other aspects of their marketing in order to control costs. In addition, value pricing uses the elements of a competitor's product to provide price and quality comparisons.
Prestige
The goal of prestige pricing is to convey an aura of quality and exclusivity. It does not take into account profitability or sales volume. This strategy appeals to the status-conscious consumer.
Breakeven
How much does it cost to produce your product? What are your overhead costs that impact your pricing? Overhead includes the actual manufacturing of your product, as well as the average per-piece cost of office staff, sales reps, utilities, distribution, and promotion. These aspects need to be taken into account to determine at what point you "break even" on your investment.
Services
As a provider of services, look at what your competition is charging. Do you have services that are unique or exclusive to you? Think about creating packages of services at different price points. Be sure to consider your education, years of experience in the field, as well as the amount of time you will be spending on your client's project or in meetings with your client. All of this adds up.
It all comes down to dollars...and sense. |
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Your Nametag
At a business or networking event, you are usually given a nametag. Be sure to fill it out with your full name, and either your business name or a description of your position. For example, Joe Smith, ABC Company, or Sally Jones, Business Coach.
This allows new contacts to see your name and company together in one visual piece. And, it helps them to remember you more easily. It also lets people develop questions to ask you as conversation starters.
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Seminar Series
We are planning more seminars and collaborations with speakers for the Fall to give you the information you need to achieve your goals. Take a look at the "Marketing Matters" series which covers networking, marketing and other business topics to help you perform at the highest level.
Target Marketing
Make your advertising a superhero! We will be partnering with Gregg Oliver of GO Direct to discuss target marketing and evaluating ads in The Dynamic Duo: Target Marketing & Great Creative. You'll learn how to reach your ideal audience and create ads that work! Fall dates to be announced.
Networking
To enhance your professional skills, join us for Networking I: Successfully Promoting Yourself and Your Business. Maximize your efforts by creating a great "30-second commercial" and making a favorable first impression! New dates will be added soon!
Create your own no-cost sales force! Join us for Networking II: Making Connections and Building Your Referral Network. Find out how to make connections that last and build your business! Fall schedules being planned.
Professional Development
In addition, join us for the 4-Week Business Success Program. This program allows you the opportunity to focus on specific aspects of your business over a 4-week period to get ahead of your competition...fast! Visit our website for more info.
Take a look at our colorful and easy-to-navigate website to find out more about our services! Plus, don't forget to "like" us on Facebook. |
Speaking Tips
How can you improve your public speaking skills and become an "expert" presenter? Review these tips in an article from Forbes.com on what NOT to do.
Are You Ready to Blog?
Many people are caught up in the social media frenzy, including blogging. They feel they need to be everywhere online. Is blogging right for your business? Read 10 reasons why it might not be in this article from Entrepreneur.com. |
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Richard Associates...Your Marketing Partner
At Richard Associates, we provide customized marketing services to help you succeed. From advertising that works to seminars designed to enhance your professional skills to business consulting that focuses on your goals, our services are developed with your needs in mind.
We understand that marketing is an investment in your business. And, you'd like a return on that investment. That's why we focus on results-oriented efforts that measure your success.
We build client relationships into marketing partnerships. Working with you.
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