Guest guest Posted April 19, 2005 Report Share Posted April 19, 2005 Hi Pete, I thought to add a few thoughts, being that my first degree was economics, 25 years ago. First thing to know in economics is that they never change the questions on the college exam paper, just the correct answer. Second thing to know is that supply and demand are theoretical constructs in a free market where people act rationale. So a helpful model, but don't bank on it as this situation is rare. There is something called elasticity measurement used relative to different variables. What does that mean? It means that some good are easily interchangeable and are price sensitive. I think this is not the case for acupuncture. Acupuncture is best sold by word of mouth, both for what the person found useful and for the quality of care of the practitioner. The difficulty is how to get good word of mouth when you have a small patient base to begin with? I have been thinking on this and wonder if we need to identify a product that can easily be substituted. The one I am working on at the moment is a stop smoking program which I will market in opposition to other stop smoking 'products'. From this program I will then be in a position to draw people with other health problems, and also to create a bigger client base out there in the community based on word of mouth. When you just drop your price and advertise you are trying to grab patients from other practitioners, i.e. acupuncturists, doctors, etc. From my experience some people will try you out, but they may not be the clients you want long term as they are price sensitive and may just go to the next young acupuncturist on the block who is offering cheap services. Hope this might through some light your way. Best wishes, Chinese Medicine Chinese MedicineOn Behalf Of Pete Theisen Monday, 18 April 2005 4:43 PM Chinese Medicine Re: Antibiotics + TCM (Government and private sector) Musiclear wrote: <snip> > > What part of supply and demand doesn't work for your Pete? Hi Chris! If I were " wise " I wouldn't have this problem. I have posted about this before, maybe you missed it. I open the clinic and decide to charge $50 for treatments, which is a little less than everyone else. I advertise heavily and get one patient. So I cut the rate to $32 or less, advertise that and get a couple of patients, but not enough that I can quit my night job. If supply and demand worked I would have quite a few patients. Demand is *supposed* to go up as the price goes down. I am $18 below the market for heaven's sake! So much for supposed. What seems to be working for successful practitioners around here is rich boyfriends/husbands. The wife's acupuncture clinic is a tax write-off against the couple's real income. She can charge whatever, doesn't matter if she works or not, as long as she is happy. Regards, Pete http://babel.altavista.com/ and adjust accordingly. ---------- -- Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 19, 2005 Report Share Posted April 19, 2005 Pete, Its no wonder you have to drop your prices. With the sexist economic picture you paint,my only advice would be to not quit your day job. Or you could find a rich wife/girlfriend. Maria Kuriloff Chinese Medicine Chinese Medicine On Behalf Of Sharon Monday, April 18, 2005 6:26 PM Chinese Medicine supply and demand Hi Pete, I thought to add a few thoughts, being that my first degree was economics, 25 years ago. First thing to know in economics is that they never change the questions on the college exam paper, just the correct answer. Second thing to know is that supply and demand are theoretical constructs in a free market where people act rationale. So a helpful model, but don't bank on it as this situation is rare. There is something called elasticity measurement used relative to different variables. What does that mean? It means that some good are easily interchangeable and are price sensitive. I think this is not the case for acupuncture. Acupuncture is best sold by word of mouth, both for what the person found useful and for the quality of care of the practitioner. The difficulty is how to get good word of mouth when you have a small patient base to begin with? I have been thinking on this and wonder if we need to identify a product that can easily be substituted. The one I am working on at the moment is a stop smoking program which I will market in opposition to other stop smoking 'products'. From this program I will then be in a position to draw people with other health problems, and also to create a bigger client base out there in the community based on word of mouth. When you just drop your price and advertise you are trying to grab patients from other practitioners, i.e. acupuncturists, doctors, etc. From my experience some people will try you out, but they may not be the clients you want long term as they are price sensitive and may just go to the next young acupuncturist on the block who is offering cheap services. Hope this might through some light your way. Best wishes, Chinese Medicine Chinese MedicineOn Behalf Of Pete Theisen Monday, 18 April 2005 4:43 PM Chinese Medicine Re: Antibiotics + TCM (Government and private sector) Musiclear wrote: <snip> > > What part of supply and demand doesn't work for your Pete? Hi Chris! If I were " wise " I wouldn't have this problem. I have posted about this before, maybe you missed it. I open the clinic and decide to charge $50 for treatments, which is a little less than everyone else. I advertise heavily and get one patient. So I cut the rate to $32 or less, advertise that and get a couple of patients, but not enough that I can quit my night job. If supply and demand worked I would have quite a few patients. Demand is *supposed* to go up as the price goes down. I am $18 below the market for heaven's sake! So much for supposed. What seems to be working for successful practitioners around here is rich boyfriends/husbands. The wife's acupuncture clinic is a tax write-off against the couple's real income. She can charge whatever, doesn't matter if she works or not, as long as she is happy. Regards, Pete http://babel.altavista.com/ and adjust accordingly. ---------- -- Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 19, 2005 Report Share Posted April 19, 2005 Ron & Maria Kuriloff wrote: > Pete, > Its no wonder you have to drop your prices. With the sexist economic > picture you paint,my only advice would be to not quit your day job. > Or you could find a rich wife/girlfriend. Hi Ron and Maria! Sexist? What *is* sexist, anyway. Is a woman competing for patients at a loss with the support of her rich husband sexist, or is only the *commenting* on this sexist? I have never made money an issue in love, the girls all did but maybe I'm not supposed to notice that. Regards, Pete Quote Link to comment Share on other sites More sharing options...
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