Tag Archives: pricing

My favorite afternoon snack is mixed nuts and seeds. There’s a special mix I buy that is perfect except . . . it contains Brazil nuts. I really don’t like Brazil nuts. The good news is that my wife loves … Continue reading

Posted in merchandising and marketing, pricing, strategy | Tagged , , , | Leave a comment

Where costs + branding effort = margins The zeitgeist issue of the week is pricing strategy, and how to price products for acceptance in the market. This is an issue all my clients confront. For software clients, pricing strategy differs … Continue reading

Posted in economics, general business, merchandising and marketing, pricing, strategy | Tagged , , , , , , , , | Leave a comment

Margin is typically viewed within its accounting framework, but the rules of business are changing and business owners must expand their understanding of how to increase margin if they want to remain competitive and profitable. This video tells you how. Continue reading

Posted in branding, entrepreneurship, general business, production, strategy | Tagged , , , , , , , , | 1 Comment

Understanding and managing product costs is one of the most challenging – and critical – responsibilities of small manufacturing business owners. This article offers common sense, achievable advice for taking control of costs and profitability. Continue reading

Posted in financial management, production, supply chain | Tagged , , , , , | Leave a comment

All business owners must differentiate or compete on price, but the stakes are much higher for designer businesses. Differentiation on design is the primary argument for maintaining higher prices, and failure to do so undermines the entire business premise. Do you know which questions to ask when establishing your pricing strategy? Continue reading

Posted in economics, entrepreneurship, merchandising and marketing, strategy | Tagged , , , , , , , , | Leave a comment

When a company fails to establish compelling reasons to buy its products, it is reduced to competing on price. This is market reactivity as a form of strategy, and it’s an excellent formula for going out of business. Don’t set your business up to fail. Follow sound strategic principles to differentiate your business and remove yourself from the price game. Continue reading

Posted in entrepreneurship, general business, strategy | Tagged , | 4 Comments

The biggest danger to a business owner is lack of originality – generally demonstrated by virtue of getting trapped in his or her industry’s trends. Industry trend following simply turns your business into a commodity business. Avoid the trap, and maintain your margins. Continue reading

Posted in entrepreneurship, general business, merchandising and marketing, strategy | Tagged , , , , , , , , | 3 Comments

Sure the economy is difficult. But you’re going to go to work anyway, right? So take a page from the independent retailers (booksellers, music stores, jewelry stores, video stores) who have thrived in the face of significant big-box retail competition. If you start viewing the difficult economy as if it were a difficult competitor, perhaps you can convert that helpless feeling of anxiety to a bout of righteous activity instead. Continue reading

Posted in economics, general business | Tagged , , , , | Leave a comment

Your overall pricing strategy is secondary to your company’s strategy and value proposition. “Lowest price always” is a valid strategy, but it has to be applicable across the board, and not just on a product or two. It is also heavily dependent on volume, which is why you have to be the size of Wal-Mart or Amazon to successfully deploy that strategy. Other value propositions are customer intimacy, leading product/technology, and system lock-in. Continue reading

Posted in general business, merchandising and marketing, pricing | Tagged , , , , | 3 Comments