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[B254]Beauty Is In The Eye Of The Beholder
by Tim-knox, Tim
Q: My partner and I are having a hard time coming up with what we feel is the perfect price for our new product. We know what competing products sell for, but we don't know if it's better to price our product cheaper than theirs or charge more based on what we think is a superior product. What is the best way to determine the perfect price and what is the rule of thumb for raising prices later on?
-- Jennifer L.

A: Like the perfect man, the perfect plan, and the perfect murder (not sure what those three have in common, but there is a link there somewhere), there is no such thing as the perfect price. There is that mythical price that gives the customer excellent bang for his buck and the company excellent profits for its efforts, but even that price point can't be considered the perfect price. That's called compromise, not perfection.

Pricing is an important aspect of every business because price is used to create financial projections, establish a break even point, and calculate profit and loss.

It's also important to establish a good price point from the beginning because it is much easier to lower prices than to raise them. If you introduce a product at $100 and make no sales, you can easily lower the price to $75 without attracting much attention. However, if you introduce the product at $75 and it proves popular and you raise the price to $100, you may face irate customers and even be accused of price gouging. So it's better to start high and adjust down, if need be.

There really is no rule of thumb when it comes to raising prices. Price is never set in stone and consumers expect prices to change with the times. You might raise prices to cover an increase in the cost of manufacturing and other production costs, or in response to market demand (the greater the demand, the higher the price).

You can also justify a price increase when you improve a product's quality, features and benefits. The buying public is generally price conscious, but if you can show that the value of your product has increased by the addition of new features and benefits, then the public will usually not balk at an increase in price. Keep in mind that price increases should be done in small increments over time, not by significant amounts over night.

Though price may be determined by any number of factors, basically there are three ways to establish the price for your product.

The first way to determine price is to perform a comparative analysis on similar products sold by competitors. Are the features and benefits similar to your product's? If so, use the price of the competing product as a possible price point for your product. If your product is superior in quality, features and benefits, then you might be able to justify a higher price and still be competitive. If your product is inferior, then your price point will be less.

The second way to establish pricing is to calculate the total cost to produce and deliver your product, then figure in an acceptable margin of profit to calculate the final price.

The third way to establish a price it to use what I call "The David Copperfield Method." Named after the famous magician who made the Statue of Liberty disappear on national TV, this method of pricing simply means that you pull the price out of thin air. Believe it or not, this is the method that many companies use to establish pricing. It's also the reason many companies disappear.

It's easier to understand the allure of the Copperfield Method when you realize that more often than not, product pricing comes down to one thing: perception.

Perception, or as it is more commonly referred to in business, perceived value, is one factor that most entrepreneurs use to determine product pricing. As entrepreneurs, our products are our children. We create them, we nurture them, we grow them and we love them. And often we perceive their value to be much greater than the market perceives it to be.

It's all about the perception of value. What makes a $10,000 Rolex watch more valuable than a $10 Timex? Functionally both are watches and both perform the exact same function: they tell time. Why then does one sell for a thousand times more than the other? Perceived value, nothing more.

An expensive wristwatch can not make you better looking, smarter, healthier, or more popular with the opposite sex. But the perception is that if you have a Rolex on your arm you must have something going for you that the wearer of a $10 Timex does not.

By the way, does anybody have the time? My Timex seems to have stopped...

Here's to your success!

Tim Knox tim@dropshipwholesale.net For information on starting your own online or eBay business, visit http://www.dropshipwholesale.net

?What is truth?? Thanks to inclusion in the Bible of a confrontation between Pontius Pilate and Jesus Christ, this question or answer is possibly the most famous statement ever made on the subject. Pilate's definition of truth was whatever suited his agenda. That definition is still used for the same purpose by many today.

The subject of UFOs and Aliens may or may not reach the eternal importance of the argument between Pontius Pilate and Jesus Christ depending on who you talk to, but the search for the truth about them receives the same manipulation. For example, when UFO Organizations meet for conferences and symposiums, they often hang banners that say, ?The Truth is Out There? or ?Searching for the Truth.? But what truth are they looking for?

I was an avid reader of books about unidentified flying objects, extra-terrestrials and other paranormal phenomenon as an adolescent. When I began my own paranormal research and investigation as a teenager, I decided to be as objective as possible. The truth I was looking for was less theory and more facts. Facts are objective until we decide to interpret them.

Today, many UFO researchers view the phenomenon as a buffet table. They pick and choose what they decide is credible and throw out the rest. Their search for the truth only includes those facts that they can or will accept. I can't tell you how many important cases came my way (and still do) because others in this field simply turned their noses up at the source or nature of the information.

I am not going to tell you that I initially appreciated, believed or even liked some of the cases or individuals that I have investigated over the years. I am also not going to tell you that everything reported to me always turned out to be true. Instead, I'll tell you that it is a mistake to prejudge information based on some pet theory or desire to retain a certain image for yourself or your organization.

Sometimes I believe that the original mainstream UFO organizations invented the idea of political correctness. Blasted by the press and scolded by scientists, most decided that if you can't beat them, join them. They began to pander to reporters, journalists, scientists and skeptics. And not just pander.

It wasn't long before the notoriously skeptical, often wishy-washy and always ideologically-driven scientific community became the litmus test for UFO evidence credibility. If a scientist could not find a way to fit the facts of any given case into some current scientific theory or model, it didn't exist. The truth became whatever they said it was and the only information accepted the mainstream UFO research community was that which survived scientific sifting.

I am not the kind of person that believes there are no absolute truths and that life is one big grey area. However, I also believe that science is a long way from understanding the nature of those truths, being able to interpret them as a formula on a chalk board or reproduce them in a laboratory. Science is what we think we know about our existence. It provides a means for us to discover and use certain principles for better or worse. It should never be considered a final authority to judge what we believe to be true.

Most scientists ignore facts that go against their grain of established beliefs until those facts can no longer be ignored. It is process of knowledge and information forced one way or another by the whims and egos of academics. It's Investigation by Debunking. Instead of proving something exists, let's prove it doesn't and whatever remains is worthy of consideration. It is, literally, backward thinking and exclusionary research.

Investigating paranormal or supernatural events requires something more than Debunking. It requires the ability to admit that not everything is always as it seems and sometimes things occur that are beyond our ability to immediately comprehend them. One of the greatest lessons that I have learned as a result of paranormal investigation is that anything is possible.

When I first began to investigate the Philadelphia Experiment, I was warned not to take it seriously by most in the field of UFO investigation. Although witnesses were few and scattered and the information seemed spurious, not all the news was bad. While denying that it ever occurred, the Office of Naval Research began an investigation in 1957 which involved people that became aware of it and the information they possessed. It's always been my belief that if you wanted to find a buried bone, you should follow the dog that buried it.

While it's possible that the ONR was simply unaware of the experiment and decided to take a look at the matter, it's unlikely. Investigations on that level were not initiated without careful consideration and approval from superior officers in charge. The government interest in the Philadelphia Experiment was reason enough to begin following their trail. Part of that trail lead to Morris K. Jessup, an author and amateur astronomer that ended up dead under suspicious circumstances. And that was just the beginning.

The Philadelphia Experiment was said to have somehow involved UFOs and Aliens from the very beginning. Allegedly began as a World War II Navy Project to demagnetize ships against mines and make the vessels radar invisible, it progressed to a point where a ship became invisible, opened a door in hyperspace, traveled through time and returned. Alien contact was made somewhere along the way and their technology was eventually included in future projects based on those original experiments in the 1940s.

Despite the ONR interest, suspicious death of Jessup, alien involvement and other factors that made the experiment worthy of investigation, most in the establishment UFO research community chose to ignore it. I believe that choice was based largely on the opinion of scientists that lined up dozens deep to explain why it was simply wasn't possible to conduct such an experiment in the early 1940s. Today, many scientists are no longer arguing over the possibility of invisibility, time travel and mind control, they are busy arguing over which theory about these concepts makes the most sense and how much it will cost to build the equipment they will need to prove it.

Because they have placed their trust in shaky science, we have ended up with useless Ufology. Over the past thirty years I have witnessed various establishment UFO research organizations embrace cases with dubious photographic evidence and very little witness credibility simply because they couldn't find a way to recreate the photos in a controlled environment. When these cases ultimately fell apart or someone found little UFO models in a garbage can, all UFO and paranormal researchers suffered a serious loss of credibility.

While embracing what seemed like obvious hoaxes to experienced UFO investigators, these same mainstream UFO research organizations and the individuals that hover around them where quick to denounce almost every government whistleblower that came along and all the cases they brought with them. The Roswell UFO Crash is a good case example.

In February of 1978, Jesse Marcel placed a phone call to a UFO researcher associated with several mainstream UFO research organizations. He told the researcher that he had seen and handled wreckage from the Roswell event. Marcel was certain this was not simply material from a weather or radar balloon. Little was done about this for a year until an author that knew the UFO researcher dug up some old news clippings about Marcel in February of 1979. At that point, the researcher took a more serious interest in the case.

The author was Bill Moore who ultimately published The Roswell Incident. He completed the manuscript for the book without having ever visited Roswell. It's important to understand that Major Jesse Marcel was an intelligence officer directly involved with the Roswell UFO Crash. He had been making the claim that the Roswell material was not conventional since 1970. I can say with great surety that if I had been made aware of these claims, I would not have ignored them or waited until someone gave me a grant to investigate them.

Up until Marcel's revelations about the possibility that a real Alien Spacecraft crashed near Roswell, NM, in 1947, the establishment UFO research community considered the matter case closed. They apparently accepted the government version of what happened and looked at the story as a legendary non-event that had been resurrected by a passing mention in a book by Frank Scully long after the incident actually occurred.

History repeated itself in 1997 when retired Army Colonel Philip Corso came forward and told his own story about the Roswell Crash. Corso was not just some guy off the street. Despite amazing credentials, the media portrayed him as just another UFO witness with a story that went against the government version of what happened.

Instead of immediately coming to Corso's defense, most in the establishment UFO research community were slow to react and still fussing over a 1994 government statement which provided another one of many explanations for Roswell. This time high altitude balloons with crash test dummies were blamed for the UFO crash story. The only problem was that such tests weren't actually conducted until years after the 1947 UFO crash. Corso probably had no idea that the only way to get noticed by mainstream Ufology was to make his story known to them first. Because he didn't, their pundits attacked.

The Corso book was said to nothing more than a retelling of facts, theories and information already provided in books published by (you guessed it) researchers and authors associated with mainstream UFO research organizations. Of course the only ones that probably saw it that way were the pundits. From their standpoint, Corso should have contacted them, told his story and allowed them to write the book.

U.S. Government Whistleblowers like Robert Lazar, John Lear and Bill English all received the same treatment by the mainstream UFO research organizations. That treatment ran the gamut from being almost completely ignored, to barely tolerated to being largely discredited. Lazar had impressive academic credentials and was the former employee of a major government contractor, while Lear was an experienced Pilot with government connections and English had an impressive military background.

The truth is out there and we're not going to find it by ignoring evidence or individuals that do not fit our agendas, belittling witnesses that happen to contact other UFO organizations or attempting to debunk evidence before we investigate it. The truth is only elusive to those who fail to understand that facts are objective under we try and shape them to fit our needs.

You can read more about the subjects mentioned in this article at http://www.UFOguy.com
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Tim-knox has sinced written about articles on various topics from . Tim KnoxEntrepreneur, Author, SpeakerTim Knox is a nationally-known small business expert who writes and speaksfrequently on the topic.For more information or to contact Tim please visit one of his sites below.. Tim-knox's top article . to your Favourites.

Bill Knell has sinced written about articles on various topics from Politics, Small Business and Politics. Author: Bill Knell is a popular author, speaker and consultant.Author's Website:
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