Can you maximize your price in this economy?
The Sales and Sales Management blog has an entry asking this question and giving the answer of yes!
The blog points out that one of the biggest hurdles in being able to maximize your price is not your customers or the economy but instead the fear of asking for the maximum price. Of course there is always fear that a customer will baulk at our price and go to a competitor but you need to be able to sell them on the value of your service.
This works well for service related businesses but what about retail?
In retail the answer can get a little more complicated. If you are in a price conscious market then you can be limited to the price you can sell a product. However, if you have found a unique niche in which you sell products that most of your competitors do not have then you have some more flexibility in your pricing so long as you do get your prices too high.
The Sales and Sales Management Blog has some good information that you may find of use in your business so take a look.