Episode 42: Strategy and Tactics of Pricing- The Hidden Power of Pricing
Description
Independent retailers often focus on cutting costs or boosting sales — but the fastest way to improve profitability is through smarter pricing. In this kickoff to our new 10-part series based on The Strategy and Tactics of Pricing by Thomas Nagle, Patrick Keiser explains why even a small change in price can have a dramatic impact on the bottom line.
As Nagle reminds us: “Pricing is the moment of truth — every dollar of revenue is the result of a pricing decision.”
In this episode, you’ll learn:
- Why a 1% price change can deliver more profit than a 1% increase in sales or a 1% cut in costs
- The common pricing mistakes most Main Street retailers make (fear, cost-plus thinking, copying competitors, constant discounting)
- Why price is not just a number but a strategic choice that communicates value
- A simple three-step process to start using pricing power this week
If you’re ready to stop leaving money on the table and start thinking about pricing as a strategy — not a guess — this episode will set the stage for the series ahead.
Keywords: independent retail, small business pricing, pricing strategy, profitability, value-based pricing, retail growth, Main Street business, Thomas Nagle, The Strategy and Tactics of Pricing, Patrick Keiser, Heart on Main Street
United States
