Why on earth did they buy that there? Sometimes, it seems customers act irrationally when it comes to their buying behaviours. But that is never the case. Customers always behave in ways they perceive are in their own interest. And yet, the rationale behind these decisions is often puzzling.
How to determine the price point of your product? First: the number “nine” really can make a difference. Second: when you exceed a pricing threshold such as 99¢, you need to find the next threshold above that price point. Otherwise, you will be leaving a lot of money on the table.
Our article was recently displayed on The Pricing Advisor, which is the Professional Pricing Society’s Newsletter. You can find out how to avoid a price war here.
Your boss gives you a seemingly impossible task: Increase profits by 12.5%. How do you respond? Some managers might spend a great deal of time trying to persuade the boss to reduce her expectations. A more productive response would be to improve management of prices by just 1%.
Pricing Solutions will be hosting an event on the 17th of September exclusively for Pricing Managers to gather and exchange ideas as well as approaches to difficult pricing challenges.
Many input prices seem to be starting to inflate again. Allow yourself some options to adjust list prices if commodity costs continue to inflate.
This article touches upon an interesting pricing model for E-Books, which the author believes will not benefit the publishers that wanted to enforce it.
A curious note about Ford Explorer's new pricing strategy on their 2011 model. They are offering a premium for an upgrade to a smaller motor with an EcoBoost engine.
A new pricing strategy that allows buyers to dictate prices can lead to higher profits; if some of the proceeds go to charity. The strategy is called “pay what you want,” and has gained a foothold in several markets in the last few years.
Why companies must more zealously execute their business strategies by focusing on turning their competitive advantage into clear decisive advantages.
