1. [Webinar] How To Use ProspectNow
  2. Reonomy vs ProspectNow for Finding Off-Market Multifamily Deals – Episode 117
  3. Prospect asks: “Whats the price?”
  4. ProspectNow Guided Search: The Easiest Way To Build a Highly Targeted List of Property Owners
  5. How a Top 150 Team Uses ProspectNow To Maximize ROI in Their Farm
  6. How To Reply When Your Prospect Asks “How Much Does It Cost?” | The Mastermind
  7. Marketing Mix: Price, People and Prospect

[Webinar] How To Use ProspectNow

so,lets show that,good morning everyone thank you so much,for,registering and being in attendance,today,i see that some people are starting to,log on so well just give everyone else,a couple more minutes to go ahead and,get started,uh in the meantime lets get my screen,share started,that way,the presentation is all geared up and,ready to go,for those are already in attendance if,you can just go ahead and confirm in the,chat,that you can see my screen,thatll let me know that everything is,good to go and we will get started here,very shortly,hope everyone is having a good start to,their friday i know its at least,in my case here in california its a,little,its a little bit early its like 9 a.m,here,so still sipping uh my first cup of,coffee here,but fridays are the best arent they,all right awesome looks like everyone,can see my screen,this probably gives everyone else maybe,another 30 seconds its okay they get,joined in her here a little bit later,uh i do send out a replay,of todays webinar so if you feel like,you have to leave early or,anyone here,pops on late uh just for the sake of the,recording,um you will get a replay,awesome,uh with that being said uh my name is,roy by the way my name is uh roy adriano,is my full name i am the growth,operations manager here at prospect now,uh so i i typically handle the,day-to-day marketing um lead things such,as todays webinar,uh handle uh any inquiries when it comes,to you know,sharing prospect now and uh learning,more about it and things like that so,kind of spearheading that too uh so for,todays webinar we are introducing an,all new prospect now uh so prospect now,actually has been around for well over,uh nine years,um,you know we are a sas real estate,marketing platform what is sas saas,that means we are a software that is,sold as a service sas,so were an online database we consist,of over 140 million track properties,consisting of over 100 million owners,with contact info things like their,first name,uh their email address their phone,number and cell phone and things like,their portfolio,30 million business contacts as well,when it comes to you know who owns a,certain property,like a like a dunkin donuts and things,like that,and we have over 5000 paying customers,which include large customers such as kw,keller williams,bank of the west wells fargo bbva,compass svn entero pnc and the list goes,on were adding new customers every day,or were important talks to add um or in,contracts every day so uh its an,exciting time for us you know in a time,where you know technology is always,advancing um im sure you,who registers for this webinar obviously,your interest was uh was intrigued um,you know due to what we offer um and you,know its always good to,be knowledgeable uh to stay ahead of the,curve or if not you know be an early,adopter and things like that um but like,i said prospect has been around for a,while and so you know our first couple,years you know yeah um its a lot,different than what we are now so its,exciting because like i said the,beginning of this webinar were,introducing all new prospects now,meaning,uh weve done so much in the past two,years,uh to actually improve our product uh,weve,you know made substantial changes to,uh for example the reliability of the,website the accuracy of the website and,just different tools so uh really if,youre not using prospect now um in your,current uh you know,uh positioning career um,youre missing out theres a lot of uh,information to be had here,moving on,uh so im sure you know this already uh,but its always good to revisit it what,does successful prospecting look like,you know a lot of people like to,complicate it its its its generally,really simple right uh we filter for who,we want to reach out to uh if possible,we can predict you know on your list or,you you might you may pick and choose,like oh okay like this person is,probably worth reaching out to now,instead of like you know person b c and,d you know,and then obviously you start marketing,to them whether its a cold call you,send out a postcard or a letter maybe,you stop in if theyre if possible,theyre local to introduce yourself and,hopefully the conversation gets started,from there,uh in terms of real estate prospecting,im sure you know it could be a very,windy road,right you know you have your crm you,update your info hopefully all of the,information is up to date,then you have to start doing property,research uh maybe through public record,is is the typical case there,uh and then who owns the property you,know and even more uh troublesome than,that is like with the properties behind,an llc llc,um you know that could be a tough uh,onion to peel right there could be,multiple names,um sometimes it leads you to a dead end,and if you if you are able to uh,retrieve a person or a contact then you,start doing more research right who is,the true owner um who are the tenants of,the property,and are you able to get the contact info,of that person such as the email their,phone number even their mailing address,and then hopefully when you get all that,information you update your crm,and then you can start marketing from,there right until maybe you find out all,the information is incorrect,uh there then then you you find out,theyre not qualified because youre,lead i mean if you cant get anywhere,with your lead then whats the whats,the use because you got wrong phone,numbers um constant voicemails because,you only have a phone number and maybe,you dont have email or you dont have a,mailing address so you only have one way,of contacting them,um or the phone number is disconnected,or,you do all this work just to find out,that the person is not interested in the,first place right they theyre not,looking to sell their property or even,consider down the road so you did all,this work for nothing right,and you repeat this tens of thousands of,times until you you able youre able to,stumble upon,a deal,so how does prospect now come into uh,play there,the prospect now difference aside from,what i mentioned at the start of this,webinar is that we have so many,properties right over 140 million,properties 10 million companies to owner,contact info right,the next step to why were different is,our predictive analytics were able to,identify things such as like the sellers,and likely refinances so we are a,powerful tool,for those who are you know real estate,agents commercial uh real estate agents,lenders,brokers all that,were able to target sellers and,refinances before they happen how you,might ask obviously thats a thats a,you know fair question uh we have,proprietary analytics within our,database,where every week we study the properties,that have already sold,within your market nationwide so we,recognize things such as similar,purchase price loan amount age of the,property size of the property,how long was the property on the market,you know how long did the owner have the,property uh things of that nature right,were,basically were taking that information,uh and then were applying it to,off-market properties and then well,show you a list of the off-market,properties that fit that similar model,that same uh sort of profile so that you,know that at least when youre,prospecting your marketing youre youre,contacting people who fit a similar mold,that way youre not just trying to find,a needle in the haystack hopefully that,makes sense,on top of that we have so much more,information at your fingertips you know,foreclosure,uh information sale and loan history mls,listings company data the like,and then um from there you know you just,keep keep the ball rolling hopefully uh,youll start uh,um filling your pipeline like crazy and,and like i said you know attempt to our,success is our longevity uh weve been,around for a good number of years like i,said um over a decade,so we dont plan on going anywhere,just double check theres any questions,in the chat um,no additional cost to keller williams,commercial members correct yeah hey mark,yeah t

Reonomy vs ProspectNow for Finding Off-Market Multifamily Deals – Episode 117

today were going to talk about rheonomy,versus prospect now,and what are these software for,real estate investors and and,professionals why would we use,rheonme or prospect now,the reason i wanted to do this episode,is because,if youre in a multi-family investor or,commercial investor,or looking for small multi-family deals,maybe youre a single family this is,great data where you can just plug and,play,and you can create systems alongside,that going back to my,previous episode where we talk about bas,i have a lot of i use my va to,pull lists for me get contact,information,and automate the process of contacting,these potential um,refi candidates or people that are,looking to buy a property need financing,right thats kind of where im,going for but you can implement the same,strategy,if youre buying real estate welcome to,the investor financing podcast,where we interview real estate investors,in lenders,so you can learn all the secrets to,getting your projects funded,and scale your portfolio and now,your host x team hello and welcome to,another episode of the investor,financing podcast,and im your host poe x team and today,were going to talk about,rheonomy versus prospect now,[Music],so a few years back i was fortunate,enough to hear,um how uh do a keynote presentation,on the miracle morning which is a,fantastic book if you havent,read it and over the years ive,implemented the miracle mornings,and essentially im not gonna go too,deep in the book i,i recommend you get the book if you,havent read it already but,its about creating morning rituals for,yourself,so um i became a very early riser,and i am waking up early,im having doing a little bit of reading,a little bit of kind of meditation in,the morning drinking my coffee and then,going to the gym,and then after my gym i do a little bit,of i would call it journaling but its,just really scheduling my day,and by waking up early i wake up at 4,a.m,or you know give or take 10 20 minutes,um every morning and,its super beneficial because for,example right now at 6 41,ive already had an hour and a half,workout ive already done my morning,ritual,im in front of my computer ready to,start the day,in a big way before most people are,getting up so,i before 11 oclock in the morning,i want to have basically what i call win,the day and,accomplish my kind of checklist of the,most important items i mean ive done,to-do lists with,30 items on it and lets face it you,never get through that list,so if you put the three or four core uh,items to get done for the day,and youre able to accomplish it by 11,a.m its such a successful day the rest,of the day right,you you tap into your youre working out,you tap into eating healthy and getting,good nights sleep and thats really,i mean thats really the way to kind of,grow your,whether youre a real estate agent or,youre in the mortgage business or your,real estate investor or youre a,business owner,or youre a deputy employee trying to,transfer into being self-employed,youre listening to the investor,financing podcast,well be right back after this break,this is vinnie chopra i wanted to give,this recommendation from my friend bo,x team i live in danville in the,blackhawk area and beau has been,tremendous friend to me not only in as a,friendship but,also as a loan broker as a matter of,fact,i had a chance last year to get a,you know opportunity to get it,refinancing done on a loan and he was,able to,get 8.5 million dollar loan that closed,in 15 days,15 days i know ive heard many other,stories from my friends,where bo has helped them quite a bit to,get the,you know hard money loans and flipping,and the construction loans and things,like that,so thats tremendous and i really,believe,you know hes very straightforward he,gives the best,terms that are possible and then also,walks you through the whole process,and those things are really really,important to anybody like me,who does not know how to get you know,all the applications and things like,that,so thanks bo i really appreciate you,buddy,um so yesterday i had a demo with,prospect now,uh and im pretty impressed with,prospect now reality cost me,400 a month and i think you get a,thousand downloads i mean you could have,unlimited searches but you can only,like export a thousand a month but you,can,where prospects now system,is on a credit system so you go it,depends on the territory you want you,can,you can go nationwide and get up to x,amount of pools,um and then give you credit back if,theres no,phone number or email address and you,can do unlimited searches so,its only the ones you pull for phone,number,and email that you get dinged you know,deductions for your credit so,what i liked about prospect now,is they had more detailed mortgage uh,debt information on the properties and,for me thats kind of,a big thing right im segmenting my list,based on different situations i could,also look to see who has construction,loans because thats always a good sign,for,takeout financing both of these provide,huge value for real estate investors and,real estate professionals,um you might want to look into this if,youre serious,about prospecting i mean you have to be,serious or its a waste of money of,you know five grand a year essentially,so if youre serious about prospecting,you know youre getting direct,information youre getting contact,information,youre seeing what other properties,these sponsors or these entities own,its fantastic so reach out to me,i can probably get you a free trial on,each of them,thanks for watching this podcast or,listening on itunes or stitcher or one,of those sites,please also subscribe to my youtube,channel,i think i think youtubes more,a little bit better for you if you can,watch because sometimes we do interviews,face to face,sometimes we show some drafts and things,like that but,itunes is good as well anyways i,appreciate the support,i look forward to any referrals you have,you can always book a call if you have,any questions theres a calendar link,down below or somewhere on this page,and have a great day thanks a bunch,thanks for listening to the investor,financing podcast,for show notes and useful resources,please visit,investorfinancingpodcast.com for,questions,or comments email info,investorfinancingpodcast.com,if you enjoy our show please share it,with your network,until next time

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Prospect asks: “Whats the price?”

after 34 minutes of a discovery call,the salesperson wanted to show me a demo,but before investing time in a demo,i asked her one question,can you please tell me the price first,and the salesperson said that she,couldnt she was told by her manager,that she had to show value first in this,case a demo,and it didnt sit well with me whenever,salespeople,dont answer the question of price i,feel like theyre trying to hide,something,i prefer that if i ask what the price is,the sales person just tells me the price,even,if its a range because when you dont,it doesnt feel like youre being,transparent,and you feed into the negative,stereotype that people have,with sales people so instead regardless,of what you sell,or how complex it is consider answering,the question,because sales people dont determine,value,prospects do and you need price to,determine value,so if someone asks you what the price is,just tell them the price like this,someone says can you tell me the price,and you say,sounds like youve done a bunch of,research on us,thats what chris voss calls a label and,what youre typically going to hear,is the prospect telling you all the,things theyve done in advance of,talking to you,about your product or service theyre,going to be very far,down the buying cycle as i would so they,just want to know the price,at which case you can just say it,depends,but typically its 15 to 24 000,can you see yourself falling in that,range or if you want to add a little,humor something i like to do is say,depends typically 15 to 20k,i typically take venmo visa mastercard,american express you can do something,like that if youre kind of feeling it,but the takeaway here is when someone,asks you the price,tell them the price i would also,recommend that before you give a demo,if your prospect doesnt ask you the,price proactively bring it up,because you dont want to waste your,time or the prospects time,if youre not within the range so heres,how you do that,before the demo say this lisa,im about to ask you a direct question,and lisa is going to say sure what is it,i dont want to do you a disservice by,wasting your time doing a demo,only for us to realize that although we,like each other we cant be bffs,because were too expensive so based on,what you told me so,far would it be okay if i run some,numbers by you,theyll say sure and then give them a,range,this bears repeating one more time if,someone asks you the price,tell them the price if someone doesnt,ask you the price,bring up price early in the sales cycle

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ProspectNow Guided Search: The Easiest Way To Build a Highly Targeted List of Property Owners

[Music],the prospect now guided search is the,easiest way to search for properties,based on any criteria,to access the guided search you can go,to the prospect now home page and click,the orange button or from any page you,can click the link at the top left hand,side of the page,step one what would you like to,accomplish,on this page youll have five options,one build a list of properties,want to search for properties using,filters,build a list of properties lets you,quickly create a list of every property,that meets your criteria such as square,footage property type year built loan,amount purchase price etc,two find multiple properties from my,list,do you already have a list of properties,that you would like to enrich,find multiple properties from my list,lets you take any list that you already,have and search for all those properties,at once in prospect now,three look up a single address,do you just need to find information,about one property,look up a single address lets you type,in any address to see all the details,about that property,four find a property owner by name,do you want to know what properties,somebody owns,find a property owner by name lets you,type in anyones name to see which,properties are associated with their,name,5. choose a saved search,if you want to choose a saved search,that you previously saved this option,will let you do that please note that,you will not see this button if you have,never saved a search before,in this example ill choose build a list,of properties and click next,from there first ill select a state,and then i can select any county within,that state,from there i can drill down to a smaller,location whether thats a city a zip,code,a radius around any address or even draw,a shape on the map,in this case i want to search the entire,county so ill choose city,and then ill select all cities,next ill choose my property type in,this example ill look at multi-family,properties,from there i can apply additional,filters,about the propertys characteristics,information about the ownership listing,status financial history or loan details,of all the properties so in this example,ill open up the property,characteristics filters and choose,likely sellers,with,two to four units,and click next,last i can save the search,and come back to it later,search,and complete the process,at this point ill be able to view all,those properties in the property search,and make contact with the owners,[Music],lets say you wanted to search for a,bunch of properties that you already had,the address for,in the guided search youre going to,select find multiple properties from my,list and click next,on the next page you can copy and paste,up to 500 addresses from any source so,in this case i have a,excel sheet that im going to be copying,these from,[Music],and youre just going to take those,addresses and,copy and paste them directly into this,area here,make sure your addresses follow the,formatting requirements and select any,filters that you would like,many customers like to use this search,and find which properties are most,likely to sell or most likely to refi,from their existing list,when you click search,youll be taken into the property search,and the system will find all as many,properties as it can from your list of,addresses,then it will load all the properties for,you to see on one page and you can now,go through and get up-to-date,information on every one of them,[Music],you

How a Top 150 Team Uses ProspectNow To Maximize ROI in Their Farm

before prospect now my marketing would,go out to everybody in anybody in my,farm area and what immediately caught my,attention was that I could take the area,that I currently farm because we farm a,very large area of 32,000 homes and I,could take that area and actually parse,it down to the most likely sellers so,that I could concentrate all my,marketing dollars on where they have the,greatest effect in the highest ROI the,prospect now algorithm takes an account,hundreds of different data points and,what we do is we look every month at,whats selling and then we profile the,properties that have yet to sell based,on what the ones that just sold look,like so its as simple as going out and,sorting by the seller score and finding,the ones that are the most probable but,theres a lot of technology going into,what we determine is the most probable,for example we take into account,occupancy is that owner occupied or not,owner occupied what type of property is,that whats the debt situation look like,on the property how long have they owned,it a whole bunch of different data sets,and all of this translates into a very,effective algorithm that results in,properties that are about twice as,likely to sell as a random control group,not having this data versus having the,data is the difference between being as,effective as you can be or being just,like everybody else,weve sold our data with great success,and our customers have asked us if there,were any other marketing techniques that,we could help them with that could,really help them stand apart from any,other agent and so we decided to launch,our new digital marketing campaign and,this allows real estate agents to market,their properties to likely sellers,around their listings and its able to,identify these property owners directly,at their homes predictive analytics big,data machine learning these are all,great Silicon Valley buzzwords but at,the end of the day its all designed to,do something and thats what we know,matters and we know that most of our,customers candidly dont really care,about those buzzword,they care about moving the needle how,can they be more effective and so at the,end of the day our whole product is,built around usability user friendliness,and success for the customer as an,example I can now go on the platform,draw the boundaries in the area that we,want to target the sellers and we could,also ask it to give us results only,based on their length of ownership what,kind of mortgage they have how big that,mortgage was what kind of a mortgage,maybe we only want to target people with,an adjusting mortgage and at a certain,interest rate and now when we have that,kind of data available to us so easily,we can craft a message that speaks,directly to that customer once again,making our marketing a lot smarter,these folks are real estate people and,you can tell right away you could tell,them the way they think the way they,speak and they understand what were,trying to do on a daily basis as real,estate agents to try to have a,differentiated voice message and to make,our marketing dollars go further weve,made marketing easy not only do we help,create the campaign for you but we also,help create your landing page as well,getting started with prospect now is,really easy just go to the website,theres a three day free trial you can,sign up and 92 percent of our customers,renew each month so were really,confident youre gonna see value in the,product wed love for you to give it a,try prospect now has had the privilege,of helping thousands of real estate,agents grow and now were looking,forward to helping you to

How To Reply When Your Prospect Asks “How Much Does It Cost?” | The Mastermind

one that gets the head first is one that,wins you know ever have these people who,like just give me the price but they,havent given you the chance to to sell,the product or service who has that,whos had that yeah if you tell them the,price before you demonstrate the value,you lose because all that theyre,thinking about are its costuming and it,cost me this much money you want to be,able to demonstrate the value and so we,know one of the things that we say is,you know I cant possibly tell you the,price because number one Im not even,sure if we can help you and number two I,dont know enough about you to be able,to even give you a price so what I need,to do is ask you a few questions and,understand your situation better and,then at the end of the conversation we,can have we can talk about price does,that make sense,and then you reap regain control of that,phone call so make sense are two things,that Im going to finish with before we,have Monty number one,compliance without pressure is a great,strategy you can use who has kids who,has lazy partners dont put your hand up,pretty much all of us right so there was,this the study a another study done,psychology called compliance with that,pressure and what it is basically is you,ask somebody for a huge favor theyre,gonna say no and then you ask them for a,smaller favor and theyll say yes so you,want to call your partner up and say hey,listen Mugen were having friends around,tonight and the house is a huge mess,would you be able to clean the whole,house before I get home are they gonna,say yes no I cant Im busy Im doing,this Im doing that and then you said,thats okay could you at least do the,dishes what are they gonna do the dishes,right its what you wanted to do in the,first place,so how does that apply with marketing,now one of the things that we offer is,we have a program where we offer we,guarantee you will get will you its for,mortgage mortgage brokers we guarantee,youre right,youre close a single client five you,close one deal a day every day every,single day of the week or your money,back,so we guarantee that though theyll get,a one client per day for you know five,days a week the product just so happens,to be very expensive,now we could deliver on it but it would,be you know ten times more expensive,than they could probably afford but,thats okay because we have a smaller,program that will get them for clients a,month and its much more affordable and,most people end up opting in for that,but were offering to the marketplace is,very high ticket program has great,benefits and features and great,guarantee but most people will not go,for that so then I have a different,program does that can you see how they,could maybe apply to what youre doing,so the compliance with our precious,thing is very very powerful tool and we,use that a lot second thing I was going,to share with you was usually theres a,lot of benefits to our program and one,of the things we end up doing by default,is just listing off all the things we do,or even not even listing off all the,things that we that are going to benefit,you know our programs gonna do this or,our parts gonna do that and that and,that sometimes we dont even share all,that all the features benefits and,advantages but one of the things that in,psychology comes from is actually this,is really cool this is gonna work for,your personal life as well its great is,you could you could give somebody five,different gifts at once right and,theyre excited and I love it in your,awesome or you could give the,one at a time over the course of say,eight weeks that hit of surprise delight,happens over and over again and this is,the same thing happens when you are,explaining your product or service so,what you want to do instead of listing,off the products and services by you,know it has this it has that you say so,first of all Im going to be able to,create marketing for you thats going to,grow your fitness business and then what,Im going to do is Im going to show you,how to increase your profits and then,what Im going to do is Im going to,show you how to work less hours and then,and after that Im going to do this and,then and then after I show you how to do,that Im gonna Im gonna do that so its,just explaining it a lot differently,rather than listing it you want to add,in and then or after that and then after,Ive done this youre gonna do that so,Im Im expanding that and that would,mean your product sounds a lot better,than what it is if he doesnt list there,yeah do you kind of can you also when,you set it up that way to take them on,their journey and repeating the one,before it,so once weve done this and weve got,you in this Bob we then do this yeah,thats super powerful super powerful way,to do it so you can do it in your,marketing and youve got on the phone,you get order in person whatever,communication platform youre going to,use if you represent your your product,and service like that youre gonna its,gonna sound a lot better than somebody,whos just rattling off a list of,shopping list of features so can does,everyone understand that and if they,dont I can do it for your business,right now anyone does everyone,understand how that works you good yeah,sure,tell me more about what you use so we,run our choice yeah,so you so you hire a charter boat out so,tell me about if I bought your service,whats the first thing that happens in,the delivery in the delivery of the,service so were like do I get picked up,do I have to go somewhere whats the,story talk me through the journey so,first we communicate all the fine,details about a job the way you would,like to be picked up what you would like,to do during this out of everything that,we include yep thats it so one of the,things that that we do is do you have,more than one vessel so what are the,things that we do is we look at you know,what kind of experience you want you,know if its for clients we want to make,sure that your clients have a really,good experience and that theyre,impressed by you and theyre theyre,really you know theyre really,appreciative so one of the things we,really want to do is we want to make,sure the right vessel is gonna match,what your experience what experience you,have in your mind right and then once,weve done that we will then give you,all the information so that you arent,left there scratching your head,wondering whats happening in X so that,you look like you know exactly whats,happening you know where to go you know,where he be picked up then were gonna,pick you up after weve done that were,gonna pick you up in the limo whatever,it is I dont know what you do its,making up examples then we can take you,to the whats the place for you Peter,there you go where do you where do they,go after that theyre gonna let me take,in the wharf and show you we lead you to,the boat right then we get on the boat,then we give you that and then after,that we do this then then we do that do,you see how Im like kind of making a,bit of a story around how that all flows,so I would probably recommend what you,do is you write down all the things you,guys actually do and what the advantages,of that so does everyone know the,difference between features benefits and,Edges yeah a feature is a thing the,vessel is 50 foot long whats the,benefit of having a big boat pattern,comfortable yeah whats the advantage of,having whats the advantage of that more,stable we look like a baller you look,awesome you can fit more women on there,etc right its going to be a much better,experience so a benefit is the thing,that you that you get in the advantage,of the thing that it does for that,person right okay,seat belts at the feature this car comes,with five seat belts the benefit that is,youre gonna be much safer and its,gonna strap you in case of an,unfortunate incident the advantage of,that is that youre gonna feel secure,that your kids and your family are going,to be safe no matter what happens,so make sense so you want to what you,want to do is because you

Marketing Mix: Price, People and Prospect

hello alright so before anything else so,home when the hi all Im saying,dont serve I oh I dont know if you,know I owe and what are your thoughts I,know by sitting in Danielle and then and,on yet somewhat though how are you,feeling,are you safe for their family are you,experiencing anything approach me,whenever you feel American doubts,questions or clarifying or anything just,for anything,hey I want you guys to be open about it,but nobody knows me knows okay or column,and gain half a loose up okay so were,down with our last blue piece for our,marketing mix hey so Marin a long time,I three rather but learn along pylon and,discuss about with me the first one,price were on the sixth one so for the,price prices what are we willing to give,up for and for an exchange and something,for either hey so I know buddy violin,you know wanna keep the nice and I,didnt mean in big game oh but I dont,offer Anila hey so these are just some,of the factors that can affect product,pricing first one is availability of the,competing products in presence of,substitute products what do we mean by,this one,okay must become confidential the,tendency of prices that at Park and,Salmonella,what do we mean by that one página be,nothing at par para para una lampion,impression Williams metals polymers my,Baba,hey wedding youngin ongoing strategy,Nalepa I must be number Mandela,comparisons are competing crisis nella,hey because there are a lot of,substitutes Meramec alcohol potential I,present some substitute products if I am,offering milky and he she he or somebody,else is offering coffee juices shakes hi,an tendency and Hindi pointing so,Brandeis and more your pleasure,Alamo nobody Silla mug ship into an,alternative or a substitute product,hi next one is the cost cost of making,the product and the type of product that,youre meeting high right now everything,is expensive high when we talk about raw,materials and heat up monopoly and,honestly I had coming come among a small,business owners long dénouement Khmer,Im not not gonna lie better its been a,really bummer for us as well so Brown,here up then come in and pass out but,didnt come in everything and its its,really painful,hi but we need to you know need to but,God,okay so again going back to this one the,horse of making your product might be a,little more expensive,thats why tell amaranthus on yo mismo,Prado and going back down so I think,paper game after the different before,her Hindi puede namaz Mathias PI of,course young cost Nana Gaga meet most,epic Gawain and Prada Kassadin semi,small in ask more dense among our,customers more you have to keep that in,mind,hila and more a government long young,costs na marenkov n it comes here Prada,hey having said that the type of product,that youre making might actually also,affect young mismo product pricing more,go hindi naman come dynamic Macedon,luxurious your product and in Agawam o,patina Mancha gamma and gamma Hal but if,youre youre talking about still first,grade high class enema high-end,materials high quality products engine a,gamma more of course Mallahan chances,now many he met a selenium pressure Nam,producto hey,the next one is the stages of the,product in the market when we say stages,high in D – yo Abbas Abbas stages la,escena Sabina take a Toba I,bhai Paula trending na or,pugna hey thats why again you need to,know the difference of a trend in a file,hey right now Sanna Sanna hey boomer -,nothings I think of in nineteen per,annum and everything would go back to,normal,hey so you need to know what is the,stage of the product in the market right,now I alcohol for example and expire up,my system because of the the things that,are happening around around us in your,consideration a Highland a Santa like a,young pressure for other people but,butin along you know one and ttin,element ago long ago Hindi Machado,magazine pressure,hey sixth one or the six factor is the,demographic profile of the target,consumers if your consumers are,high-class consumers or price sensitive,consumers Kayla or a Sorento samaa,effect oh theres a decision-making Lela,so there are three basis of pricing I,for the three basis of basis we have the,following first one is cost plus base,pay second one is value base in the,third one is competitive base but before,we go into that let me show you this one,hey this one is Pepe you know me IRA or,this is the exchange process hi in this,exchange to provision the provision of,transfer of goods services or ideas in,return for something valuable is,happening so if I am the buyer hi I am,the buyer if I am this one at all hi,what I give to the seller is something,of value in terms of money credit labor,and goods hi the seller will give me,something of value then hi the seller,now will give me the something of value,in a form of good service or ideas,nabina buyer ankle-high now detour in,papa so I know Banga your new value,Nandita Hansa producto nella,so DITA purpose of Gentry basis of,prices not languages again the hospice,base value base in competitive pace for,the first one we have,horse blusters hey or we often call this,as cost based pricing in cos plus based,pricing either a fixed amount or a,percentage of the total products,manufacturing cost is added as profit to,the horse of the brother to arrive at,its selling price meaning cost plus the,type of markup that I want when we say,markup at doing to Bo Nagumo lets say,in every price or in every product I,want to earn 20 pesos so Im gonna add,20 pesos for every brother okay lets,say that in all the costs that I have,are in all the products that I have I,want to give 20% plus 10 Sammys Hmong,product so thats good gonna be good for,me okay now what are the advantages in,the disadvantage of having a cost plus,base pricing hey you dont need to read,everything but what I want you to know,is the major advantage of a,hospital-based pricing is that its,straightforward and its simple hi but,this only secures the sellers hi theres,only secures the sellers this is not,asking what the customers want its not,considering their needs its not,maximizing everything okay its simply,the price now gusto mo okay so its very,straightforward its very simple its a,good strategy furs small-time businesses,okay,whats the disadvantage of cost plus,base pricing it may lead to underprice,products it may sometimes be its,sometimes ignore customers rule and,overall market and ignore the,opportunity cost of the investment this,is what Im talking about,although this particular basis of prices,is very simple and its very direct okay,one of the major disadvantage Im Ana,Muhammadan and Sonia is it completely,ignores what your consumer wants alright,now for the next one the next one is,value base value-based pricing is the,value is related relative to cost in the,meaning the worth of a product for,example cellphone secondhand cell phone,for example hey if its a new product,the unused benefits thats the price,so 50,000 lets see 50,000 mo pop in a,box an emo Punk in a gala still at,50,000 the moment that you open it the,moment you start using it it depreciates,hi what are the things that depreciates,union boom ababa yum pressure hey when,we say depreciation a-team boom Ababa,embrace nila overtime,hey all gadgets all gadgets hi Dominick,upgrade at least 5 years,Hika say Ateneo hindi na dean up wedding,upgrade your iOS po and in appointing,upgrading software more honey no chips,inside loans and small phone mo thats,why after five years kilometer location,Palatine hey but there are this good,fullness that we have right now our,smartphones that we have right now in,the bottom I its a good 10 years right,the mobile it done oh okay so every time,it depreciates for example 50,000 you,divide it by 5 thats a 5 in life yeah,hey so you divided by 5 every year it,loses 10,000 value so the government,isnt on you can still sell it at 14,depend the Peraino depend apparent if,Nogami Mashal with care with love with,affection oh hey nagabhushanam iOS in,Dimona Mancha Guinne

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