Search results for pricing
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There's little room for error when it comes to pricing your business' products or services. If you set prices too high, you risk scaring off new customers, but if you set them too low you may not make enough money to survive the long haul.
The key is to strike the right balance between being competitive and being profitable, and that means do
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Each pricing strategy asks you to use psychology with your customers. Most of these strategies have stood the test of time — for a reason. They play to human behavior.
Try some of these strategies and see what they do for your business.
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Higher prices, smaller staffs and longer hours are just a few of the changes the economic slump has prompted at small companies.
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Examples from an interview with Dan Ariely, author of Predictibly Irrational, on how companies can increase perceived value and get their customers to spend more by creating a decoy offer.
The decoy marketing offer introduces false choices to make another choice look more appealing. We have a hard time valuing offers, but are relatively good a
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How to justify steep prices and set your company apart from the competition.
From the article: “Selling Value” consists of adding intangibles that convince the customer to pay a higher price than if those intangibles were absent. It does not consist of adding tangibles (i.e. things that cost your company something) to make a deal more attractiv
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Apple's announcement of a $199 iPhone that supports critical enterprise features like Microsoft Exchange indicates a windshift away from Apple's traditional market skimming price strategy towards a market penetration price strategy.
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Inflation has sunk its teeth into small businesses this year. The number of owners citing inflation as their No. 1 concern on the National Federation of Independent Businesses monthly economic index in April was at its highest level since 1982. One in five owners is raising prices, according to William C. Dunkelberg, the trade group’s chief econom
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Getting yourself and your business unit into the mind-set of thinking about labor efficiency modeling is one of the keys to running a profitable business.
The last time you looked at your current standards was when? Do you know what the correct production efficiency from each of your job codes is, even yours? What is your monitoring frequency?
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Walk into any McDonald's, order a Quarter Pounder, and the clerk will invariably ask, "Do you want fries with that?" Each affirmative answer adds $1 or more to that particular sale. If just a fraction of McDonald's' 54 million daily customers say yes to that question, that's millions of extra dollars in the burger biggie's pocket.
The sa
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In an effort to win over a new client, could you be underestimating the time it'll take you to see a project through to completion? One way to become better at estimating your costs and time needed for a project? Try the Rule of Π.
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Shoppers are discovering an upside to the down economy. They are getting price breaks by reviving an age-old retail strategy: haggling.
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The salary you set must be high enough to attract top applicants but not so high that it eats into your profits or survival. With that in mind, she offers a series of tips, including these:
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It's times like these that retailers panic. They expect, or have experienced, a turndown in sales and are trying to figure out how to broaden their market to increase sales. But is this the best strategy during a recession? This article covers this question and provides other ways to increase sales during a downturn.
Here's a quote: "A smal
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Data from Nielsen Online sheds some new light on the matter that is so important to merchants—online and offline—during the busy holiday shopping season. In an online survey of nearly 1,000 shoppers, 81% indicated that the ability to shop anytime during the day was why they chose to shop online during the holiday season. With 77% of respondents, s
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It’s every company’s nightmare: a competitor enters your market with a similar product priced at a fraction of what you currently charge. You need a strategy for beating the low-ballers. So what’s the best way to proceed?
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