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Examine Pricing in the New Year

Thursday, January 26, 2017

Most organizations conduct a regional salary review to determine if staff compensation is competitive in the marketplace. If salaries are too low, superior applicants may not consider employment with your organization. A similar situation exists for pricing of your product; a yearly pricing review may suggest your community needs an adjustment in order continue its appeal. As in the tale of The Three Bears, there is a price that is too high, another that is too low, and one that is just right. Be sure to conduct research to determine a price that remains “in the sweet spot”. The comparable data you consider should include both competitors from the local area as well as your internal competitive product. ...Read the rest...


Examining Services as Products

Monday, January 23, 2017

Most people tend to think about “product” in terms of bricks and mortar; consequently, they neglect to include services and levels of care in a yearly product review. Services are indeed products provided by your senior living organization. ...Read the rest...


Examining or Re-Examining Your Product

Friday, January 13, 2017

Areas of Concentrated Examination ...Read the rest...


Back to Basics

Thursday, January 05, 2017

The New Year has arrived – a great time to evaluate your organization overall to ascertain what is working and what needs some attention. Call me old-school, but my review employs the Five P’s of marketing: product, price, promotion, place, and profit. Two areas of great focus should be product and price. ...Read the rest...


 

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