Pricing intangible services

Discussion in 'Growing and Managing a Business' started by Charlesutton, May 6, 2013.

  1. Charlesutton

    Charlesutton
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    Can anyone provide advice on setting prices for intangible service such as data management and analysis for independent business owners?
     
  2. Rocky

    Rocky
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    You need to follow general pricing guidelines for pricing any product or service.
    For this you need to consider your cost, your margin, and the competitors pricing as well.
    Based on this you can get a rough idea. Then you can use different pricing strategies such as penetration or skimming depending upon your target market and business objectives.
     
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  3. Marketest

    Marketest
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    I completely agree!

    You need to work out your costs and set up a formal pricing guide. Clients can then 'request a quote' where they can provide you with all of the information about what services they need from you, you can then produce a price using your pricing guide. As said above this does not have to be a rigid pricing guide.
     

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