• Grow your business
    • Work Smart Not Hard
    • Mentoring
    • Talks and Presentations
  • About me
    • Testimonials
  • Blog
    • All posts
  • Drive the Network
  • New Business Next Steps
  • Contact Me

Ann Hawkins The Business Owner's Mentor

Grow your business, make more profit and have more time to enjoy it

How much would you pay for an ice-cube?

June 2, 2014 by Ann Hawkins 3 Comments

Tweet

Luxury Ice Cube Gläce
Could an ice cube be worth $8?

Gläce Luxury Ice apparently is. You can choose from the traditional cube shape called G3 (G-Cubed) or the Mariko sphere, pictured here. 

Sweep away all the hyperbole of the purity of the water, the re-sealable pouch that avoids contamination, the melt rate and the hand crafted surfaces and what you’re left with is ice that anyone with a freezer can make for a few pennies.

Does is sell? Yes it does, to people who put on luxury events.

What does this mean?

Do some people have more money than sense?

No. It means that price and value are perceptions. 

This is one of the topics that I cover in my Work Smart Not Hard programme. If you’d like  help with developing your pricing policy just ask 

When you sell ice at $8 a cube what are your really selling?

You’re selling hedonism, decadence, self-indulgence.

You’re not selling frozen water.

Pricing extremes are important to profit.

You can’t be the cheapest in the market unless your whole business is geared to price control and volume (think Ryan Air).

You can be the most expensive if you know exactly what you’re selling.

If you go with mediocre, your profits will be mediocre.

Every product or service has something other than price to distinguish it from the competition – even if that is only the words you use to describe it – the perception you create.

Figure out what that is.

Figure out who will pay for it.

That’s your market.

Go get it.

(To get new posts as they’re published, just subscribe to my mailing list!)

Share Button

Share this:

  • Share
  • Twitter
  • Facebook
  • Pinterest
  • Tumblr
  • Reddit

Related

Filed Under: Work smarter

Trackbacks

  1. Poor pricing is what keeps most businesses small | Ann Hawkins The Business Owner's Mentor says:
    January 20, 2018 at 3:53 pm

    […] It has everything to do with how your customers value what you provide them with, the value it adds to their life, the problems it solves or the delight it brings them. (See “How much would you pay for an ice-cube?”) […]

  2. The Profit Triangle | Ann Hawkins The Business Owner's Mentor says:
    August 1, 2018 at 9:54 am

    […] only the very best will do you’ll find very profitable businesses catering for people for whom low prices will never be an […]

  3. Work Smart – in 30 minutes! | Ann Hawkins The Business Owner's Mentor says:
    November 15, 2019 at 4:07 pm

    […] are lots of ways to increase profitability: Focus on your most profitable activities Get your pricing right The discount myth Count your beans Just search for other posts about profit and pricing on this […]

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get free information on how to grow your businesses and make it more profitable. If its not useful, you can unsubscribe at any time!

Say hello!

  • View AnnHawkinsInspiringEntrepreneurs’s profile on Facebook
  • View AnnHawkins’s profile on Twitter
  • View AnnHawkins’s profile on Instagram
  • View annhawkins1’s profile on LinkedIn
  • View AnnHawkinsInspires’s profile on YouTube
  • View +AnnHawkins’s profile on Google+

To succeed in business you need Drive!

Drive The Partnership Network

The all in one guide to growing your business. Available on Amazon

Front cover of book New Business:Next Steps
Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

Copyright © 2019 · Lifestyle Pro Theme on Genesis Framework · WordPress · Log in