Orange County Register

Today’s tip comes from Cheryl Shrock, who gives credit to Tom Hilliard and Greg Carraway at Carr Manufacturing Co., an electronics contract manufacturer in Lake Forest.

The pricing triangle demonstrates to customers how pricing is developed. The triangle has three sides: One side is GOOD; one is FAST and one is CHEAP.

A customer can have two sides of the triangle but not all three. It’s their choice.

• They can get good and fast service but it won’t be cheap.
• They can get good and cheap but it won’t be fast.
• Or they can get cheap and fast but it won’t be good.

Explaining triangle pricing helps the customer understand the process that manufacturers must consider when developing quotes. It helps maintain customer relationships and loyalty.

Send your tip, resource or strategy for small-business success to me at jnorman@ocregister.com. If I use it, I’ll use your name, company and a link to your Web site.

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