Tag: price anchoring

Apply These 4 Pricing Tactics to Drive Major Revenue | Small Business Trends

Apply These 4 Pricing Tactics to Drive Major Revenue | Small Business Trends

Pricing is one of the most important aspects of running a successful business, yet most entrepreneurs give it very little thought or scrutiny. Why is this? And how can you change the way you view pricing in your own business? The Problematic Pricing Plague If you think about it, the price of the products and […]

‘That’s not a revenue model’: firms stuck in factory age, says Tim Williams | Financial Review

‘That’s not a revenue model’: firms stuck in factory age, says Tim Williams | Financial Review

That costing model is driven by a Karl Marx-inspired labour theory of value, and Williams argues it’s economically unsustainable. So much so, he predicts within the next decade very few firms will price on billable hours. “Accountants would go into a factory and count the cost, and the owner would work out cost-plus pricing. That’s not pricing, […]

The 7 pricing strategies every business owner has to know | Startups

The 7 pricing strategies every business owner has to know | Startups

“How much should I charge customers?” For any new business, answering this question and deciding a price point for your product or service is no easy feat. On one hand, you want to attract your customers to purchase your product or service while on the other hand you want to price accordingly so that your business […]

Use the Anchoring Effect for More Profitable Negotiating | Strategic Pricing Solutions

Use the Anchoring Effect for More Profitable Negotiating | Strategic Pricing Solutions

Consider the last time you bought or sold a home.  The home seller listed an asking price first.  How far below the asking price was the first offer?  In tight markets where not many homes are available, the first offers tend to be very close to the asking price.  In markets with more inventory, first […]

Why Old Pricing Models Are Unethical | CPA Trendlines

Why Old Pricing Models Are Unethical | CPA Trendlines

I personally feel that pricing by the hour in arrears is an unethical way to price. Here’s why: When you price by the hour you are not incentivized to be as efficient as possible and get the job done super-fast. In fact, you are directly incentivized to do the task slower. You are incentivized to […]

Eight pricing strategies that drain your wallet | The Star Online

Eight pricing strategies that drain your wallet | The Star Online

THERE are many different pricing strategies that all attempt to do the same thing: to make you voluntarily spend as much money as possible. Below are eight pricing strategies that are used against your wallet. 1. The number “9”is a very powerful psychological number: many would perceive something which costs RM199 as much cheaper than […]

Three pricing strategies to boost your startup’s competitive edge | StartupSmart

Three pricing strategies to boost your startup’s competitive edge | StartupSmart

Aussie retailers are doing it tough. The Christmas period failed to meet expectations, large internationals like Amazon are knocking on the door, and consumers are demanding bargain prices. It’s no surprise then that many retailers have fallen into the trap of relying on discounts to win business. But anyone can discount; it’s a lazy form […]

Pricing is serious business | The Star-Telegram

Pricing is serious business | The Star-Telegram

Strategic pricing is the key to selling a home at an attractive price in an acceptable amount of time. “Many brokers will gladly list your home, but the reality is if it is not properly priced your home may sit on the market month after month and actually help sell competing properties,” said Carolyn Rosson, […]

How to Sell Your Home Quickly Over the Holiday Season | U.S.News & World Report

How to Sell Your Home Quickly Over the Holiday Season | U.S.News & World Report

It’s tempting for many sellers to take a step back over the holiday season and wait to list their home until after the New Year. Some sellers may even pull their homes off the market temporarily to relist once the holidays are safely behind them. This strategy works well for sellers who may have other […]

Parc Riviera’s unusual pricing scheme expected to stir interest | AsiaOne Business News

Parc Riviera’s unusual pricing scheme expected to stir interest | AsiaOne Business News

LEVEL 15 is probably the “luckiest” floor in new condominium project Parc Riviera at West Coast Vale, thanks to an unconventional pricing strategy by its developer. In what could be unprecedented for new property launches, EL Development is adopting a “one-tier pricing” scheme for the first day of sales this Saturday for each unit type […]