Pricing Power - Incorporate price into your marketing plan

[Future Harvest Docs]

Pricing Power
Posted: May 2, 2013

"What should I be pricing my melons at?" Take a step back and
incorporate price into your marketing plan.
Agricultural marketing activities account for over 17% of the nation’s
gross national product. Additionally, roughly seventy cents of every
consumer food dollar goes to cover marketing expenses. Clearly,
performing some marketing chores is a possible source of increased
revenue.

Many of the marketing questions I hear have to do with selling. “What
should I be pricing my melons at?” I hear on many visits to local farm
markets. This leads me to suggest that prices and pricing must be a
part of your overall marketing plan.

Cost of production is the basis of calculating price. However, pricing
must be flexible enough to meet the competition and adjustable to
changing situations. As an integral part of the marketing plan, price
must be set to meet the sales and financial goals of the enterprise.
Having a clear idea of your marketing objectives and the target market
for your products makes selection of a “proper price” easier.

Read more by following this link:
http://extension.psu.edu/business/start-farming/news/2013/pricing-power?utm_campaign=Start+Farming+Blog&utm_medium=email&utm_source=newsletter