Tag: price anchoring

Conquering the Beast: Charging the Right Fees | AccountingWEB

Conquering the Beast: Charging the Right Fees | AccountingWEB

Almost every CPA I mentor tangles themselves in a web of confusion and wrestles with the same beast. The confusing nail biting beast that I am referring to is pricing. It really pains me to see fellow practitioners struggle with pricing and not setting, or getting, the fees that they deserve. And realistically, when approached […]

The Psychology of Competitive Pricing for Ecommerce | Business2Community

The Psychology of Competitive Pricing for Ecommerce | Business2Community

Pricing for ecommerce is a tricky beast. You need to account for competition with other sellers, but you don’t want to de-value your products in a race-to-the-bottom. Purely competitive pricing can lead to disappointing results: you might not sell enough to compensate for offering the lowest prices. A profitable pricing strategy involves considering not only […]

The Guidelines Around Pricing Your Home | WBT – Charlotte

The Guidelines Around Pricing Your Home | WBT – Charlotte

About pricing your home. And I really wanna talk to you about. The guidelines. Around it and I think it’s important right now in this season. When your getting ready to Lister home which you should because you don’t have a lot of competition right now and remember every showing that you have during this […]

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 […]