Flexible price or fixed price for your service business

If you manufacture and sell products in Myanmar, it doesn't matter if you make a fixed price. But when selling service, there are lots of things to consider before you have a price tag. It's not easy to measure the real value of a service.


You sell a marketing service package and your competitors do as well. Let's say that they are charging more than the price you are charging and still they are getting more customer than you? So how? Having a price tag for a service business is a challenging. There are two way to have a price tag, a flexible price and fixed price. If you are making business in countries such as US, Singapore and UK, it's fine you have a fixed price tag. But when starting business in Myanmar, you will found it difficult to get the customers.


Clients's knowledge upon service

Some clients just want to get sale increment and product awareness. They don't know how marketing process and some people don't even don't need to know. Therefore they rely on you for advertising and other stuffs. If you cannot educate them how hard to do it and how much it's expensive, they are not gonna give you the money you asked for. Some clients think it's not a hard thing to do. You have to educate them first unless you will get no clients.


Client's budget

This is Myanmar where companies with different budgets are existing. Some companies are rich, but some company are poor. You must be very wise to understand the condition and should be flexible with price upon the companies. You're giving same service, but some companies couldn't afford. You should have a friendly service package or something else for them. If you're just waiting for clients who can give you the price you asked, you will never get.

But I also found out some people. They are starting business with small money, but they never ask you to reduce the price and just stick on the package you gave them. Another type is they are rich, but they don't always want to buy your service with the price you asked. They want you to reduce a little bit for them.

Whatever you are deciding, you need to keep company's value and impression up in the market. It means you should have a confidential agreement with the companies about the price because you are not making business in US. If you are selling products, it is good to stay public about the price.

After within 5 years, I'm seeing the marketing's changing and people will be getting educated. At that time, it's ready to think about having fixed price for your service.