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 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, […]
“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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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 […]
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 […]
Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals, business owners, creative professionals, and independent contractors. This Edition is brought to you by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors […]
This Week in Pricing > 9/23/17
This Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is brought to you by: Professional Pricing Society Currently, PPS produces three major annual pricing conferences in Europe and North America. Each […]
The Psychology Behind the New iPhone’s Four-Digit Price | Harvard Business Review
Apple made headlines by announcing that the price for its new iPhone X (a fancy term for 10) will range from $999 to $1,149. These prices are commanding attention because they are significantly higher than the base prices of the two other iPhone models that were also announced, the 8 ($699) and the 8 Plus ($799). […]
Rising tuition fees could price out college students | tes
The report points out that delivery costs for HE in FE are often less than in university settings. But colleges which took part in the inquiry said they were looking at increasing their tuition fees. Truro and Penwith College told the commission it was “moving to a full fee rate from 2017-18”, while NCG – the […]
Irma price gouging highlights sad truth: Consumer fleecing is the new normal | WTOP
(THE CONVERSATION) Since Hurricane Irma put Florida in its sights, there have been thousands of reports of price gouging on everything from water to gasoline. The most notable complaint was not, however, the one alleging a US$72 charge for a six-pack of water. Rather, it was the $3,200 reportedly asked by Delta for a ticket […]
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