Posts Tagged ‘Pricing Strategy’
The Real Cost of Loss Leaders: Can You Afford Them?
From time to time some companies lose money on projects through labor overages, material overages or mispricing a project. They have to work harder and more efficiently to make up for those losses. But how much harder and how much more efficiently?
Read More Of Price and Profits
How is it that businesses consistently fail to see the relationship between price and profits? What I suspect is that many businesses believe that it’s easier to compete on price than to differentiate.
Read More Want to Sell More Stuff? Raise Your Prices
Nearly every small business wants to sell more stuff— stuff being whatever your product or service is. After all, your business can’t survive if you aren’t selling stuff and generating revenue. But not all sales are the same, and selling the wrong way can ultimately hurt your small business.
Read More 6 Tips Every Online Retailer Can Benefit From
In the competitive world of online retail, it helps to stick to a few simple but effective tactics. Here are the six principles we use to wow our customers (and earn repeat business) year after year.
Read More New Freemium Formula Pits Revenue Against User Satisfaction
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.
Read More Small Changes in Prices Can Make a Big Difference
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.
Read More What is Deal Loyalty?
True loyalty programs are built on the basis of establishing a long-term positive relationship between the company and the customer and is not accomplished with a single “deal” or even multiple “deals.”
Read More The Lost Art of Loss Leaders
During high school I worked in a grocery store that used loss leaders to attract buyers. Once buyers were in the store they would typically buy enough related offerings, at higher margins, to more than offset the loss on the loss leader.
Read More How to Test Prices without Irritating Buyers
The right price is something of a moving target for many companies. You may need to change the tag on a given product multiple times during the period of time you offer it and the more detail you can offer on the decisions to do so, the happier your customers will be.
Read More Guide to Smart Pricing: What Are You Really Worth?
Getting your pricing just right is tricky. There are big downsides to keeping your prices too low. But it’s easy to raise them too high for people to buy anything anymore.
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