What would you think of a restaurant that offered really good food, but the salad is free and the dressing is extra? The potatoes are free but the sour cream is extra. The soup is free but heating it costs extra. And table service is free if you wait two hours, but table service in 20 minutes costs extra.
Being known for consistently high quality increases the desire buyers have for your offerings as well as the premium they're willing to pay.
It is estimated that a staggering 96% of businesses fail in the first 10 years, and this has much to do with the complexities...
There are all sorts of articles on creating superior differentiated value. Lots of them talk about creating more value than the customer expects, surprising...
Now that you have something worth their attention, how do you make contact? By phone? By mail? Before you decide, it helps to first understand how effort and resistance determine which contact methods work best and why.
If your business is trying to increase profits, raising prices is something you might consider in today's economy. However, you have to be so careful when doing this so as not to alarm your customers.
There are many important aspects to running a business, but perhaps the most important of all is your pricing strategy. At the end of the day, whether customers are willing to keep spending money at your business and whether you can afford to stay in business comes down to your prices. Here are five steps to get you on the right path for an effective pricing strategy.
The most experienced entrepreneurs know that price is the dominant factor driving profit. While profits can be increased via a number of ways, raising...
‘Twas the night before Christmas / The store had just closed / I tallied receipts / Adding to my woes
Most business owners think that you have to grow your sales from year to year. But is that really true? Volume is vanity. Profits are sanity.