In Recession Specials, Small Firms Revise Pricing
Many small businesses are revamping their pricing strategies to accommodate consumers during the recession – and enjoying success as a result. High-speed internet access provider Towerstream Corp. introduced a midrange product that has helped increase revenue by 64 percent, and Lone Star Limousine added vans to their fleet of limousines, town cars and high-end sport-utility vehicles, which helped them gross $20,000 more in the first quarter than last year. Other examples include Mr. Transmission offering food and gasoline vouchers for transmission overhauls, helping increase sales by 60 percent, and CouponCabin launching a grocery-coupon section that increased the traffic to their website by 300 percent in the fourth quarter compared to last year.
Source: WSJ.com | June 9, 2009