Kevin Hillstrom: MineThatData

Exploring How Customers Interact With Advertising, Products, Brands, and Channels, using Multichannel Forensics.

April 25, 2007

A Fair Price

Now in the seventh week of my own business, I have to continually think about what a "fair price" is for the services I provide.

Maybe the market will let me charge $2,000 for a project. What if a "fair" price is $400, given the actual amount of work I have to do? What should I charge? $400? $1,200? $2,000?

Jaffe Juice talked about this topic today. Is it ok for Starbucks to charge $3.00 for a cup of coffee? Is it ok for Nordstrom to charge $350 for a handbag? Is it ok for a plumber to charge a high hourly rate because nobody else performs the services he performs in the town he lives in?

Your thoughts?

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