Economics Price Elasticity of Demand Formula: Avoid Messed Up Pricing🛢️
What is the economics price elasticity of demand formula? Is this formula messing up pricing decisions in businesses today? For example, just consider the influence that this famous business economics 101 chart still has on most business executives’ view of price and revenue management. Huge…
Cost Plus Pricing: How to Use Cost Based Pricing In Marketing 🌺
Cost-plus pricing or cost-based pricing – a fixed sum or a percentage of the total cost of creating a product is added to its selling price. In the pricing and revenue management community, the term cost-plus pricing has increasingly come to have a very negative…
Psychological Marketing Tricks: How To Hook Customers To Different Prices 📈📉
Did you know that psychological marketing tricks like price framing massively influence how customers perceive prices? When we speak of price framing, we’re talking about changing the context in which a price is presented—without substantially changing the price itself—in order to encourage more purchases at…
Competitive Based Pricing: Falling Into the Commoditisation Trap? 🏷️
Are you one of them that uses competitive pricing? How sure are you that you’re not falling into the commoditisation trap? Are you in control of profitability or are your competitors the ones driving your profitability? Many businesses implement competition based pricing strategies and tactics….
5 Ways To Make B2B Pricing Analytics Generate Immediate Profit Value 💳
Are you using B2B pricing analytics as you should? Are you struggling to capture revenue and margin opportunities before your competitors? Do you feel like you’re on the back foot with pricing and need more support? B2B pricing analytics isn’t likely to identify a…