Issue link: http://psai.uberflip.com/i/870386
WEEKLY EDITION September 6, 2017 Improving Your Pricing Strategy Based on an article by Nigel Hollis and adapted for the PSAI Your customers want to get the best prices. Of course they do. But offering your services at a discount can undermine profits and threaten viability. Rather than cut prices, smart business leaders use strategies to create and sustain a meaningful difference that helps consumers justify spending more. By identifying your audience, understanding your competition, and knowing your brand's meaningful difference, you can ensure that decision makers perceive your brand as premium and worth a higher price. Pressure on pricing is as strong as ever At the end of the Great Recession in 2011, the Nielsen Company conducted a survey on buying habits across 51 countries and found that 59 percent of interviewees were reducing expenses by buying things "on sale." Today the proportion of buyers looking for a deal, stocking up, and trading down is as high as ever; there is no going back to pre-recession ways. Whether people are buying packaged goods, technology items, services, or cars, people want the best price they can get. Meet 2017 Nuts and Bolts Speaker Kevin Henderson Dr. Kevin Henderson, Professor at the University of St. Thomas, will give a two-part session on Saturday, November 4, titled "Attracting and Retaining Employees Part I: You Owe It to Them" and "Part II: Strategies for the Portable Sanitation Industry" As we near closer to November, preparations for the 2017 Nuts and Bolts Educational Conference are kicking into high gear. While the whole program is strong, our Sunday morning focus on HR-related topics is sure to be particularly timely considering the feedback from the industry on this year's survey of needs. Dr. Kevin Henderson will lead two sessions, separated by a coffee break, where he will educate PSAI Member companies on how to attract and keep employees long term. Part two will be led by Dr. Henderson and the students of his "Attracting and Retaining Talent" course. The students will present the findings of an in-depth project on talent attraction, selection, and retention they are doing specific to the portable sanitation industry. We are excited to offer a session on such a beneficial topic to all Nuts and Bolts attendees. Continue to page 6 for more information on Dr. Henderson's background and learn more about what his two sessions will cover. CONTINUED ON PAGE 2 CONTINUED ON PAGE 6 WELCOME NEW PSAI MEMBERS! In August 2017, the PSAI welcomed the following Member Companies: Salina Septic Service – Salina, KS Walters Services, Inc – Grantville, PA Caddy Products, Inc – Palm Desert, CA