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What's the Deal with Pricing? | Ep 61
Manage episode 394580820 series 3545979
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In this enlightening episode of the Paradigm Playbook podcast, hosts Dave Kozak and Steve Cook dive deep into the often overlooked yet crucial aspect of pricing in the sports business industry. This episode is a must-listen for entrepreneurs who are looking to refine their pricing strategies and boost their business growth in the new year.
Throughout the discussion, Dave and Steve, both seasoned business owners and sports enthusiasts, share their invaluable insights and experiences. They explore the delicate balance between gross profit, net profit, and market conditions, providing listeners with actionable advice on setting and adjusting prices effectively. The conversation also touches on the importance of understanding customer price sensitivity and conducting a thorough analysis of the competitive landscape.
Moreover, the episode sheds light on innovative approaches to pricing, such as implementing small, frequent price changes, and the necessity of testing price points to ensure optimal customer retention. Dave and Steve also discuss the power of creative pricing strategies, including adjusting service durations and introducing add-ons, to maximize profits without alienating customers.
Whether you're running a sports facility or a financial planning practice, this episode of Paradigm Playbook offers a wealth of knowledge on how to navigate the complex world of pricing. Tune in to gain a deeper understanding and to equip yourself with the tools needed for a winning pricing strategy in the competitive sports business arena.
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