In this episode of the Pet Biz Podcast, host Janie Budnick delves into strategic pricing strategies for pet business owners as they approach the end of 2024. Janie emphasizes the importance of regularly reviewing long-term goals and aligning them with actionable steps. The discussion covers the impact of industry growth, cost increases, market demand, and customer sensitivity on pricing decisions. Janie shares her personal experiences, insights on economic conditions, inflation, and the importance of understanding your client base. The episode provides practical advice on conducting customer surveys, implementing psychological pricing techniques, and preparing for incremental price increases to maintain profitability and sustainability in the pet industry.

00:00 Introduction to Long-Term Goals

00:31 Welcome to the Pet Biz Podcast

01:15 Pricing Strategies for 2024

01:49 Understanding Market Dynamics

05:17 Cost Considerations

11:33 Customer Sensitivity and Feedback

17:32 Economic and Political Factors

24:43 Strategic Pricing Adjustments

39:01 Conclusion and Next Steps

Hey there 👋 I’m Janie Budnick - Host of the PetBiz Podcast and founder of the PetBiz University™, including the PetBizMBA® Business Accelerator and the PetBizCRM™ Relationship Manager solution. No matter how far you are down the pet business path from START to FREEDOM I we are here to help!

Friend, your entrepreneurial dreams can 100% be a reality – but, let me tell you, it’s so easy to get discouraged when you’re starting out or in the messy middle. There are so many things to learn.

PetBiz University is the one place where you can get the support and education you need for your stage of entrepreneurship!

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