Is Bunnings’ Warehouse Pricing And Marketing Strategy Sustainable? 🛠️
Bunnings, without a doubt, is a powerhouse in household hardware and garden centre chains in Australia and New Zealand. The company’s recent performance indicates that its growth is far from over. Bunnings reported earnings of $618 million on a substantial revenue of $5 billion over the…
Price Skimming: Have You Underpriced Your New Hit Product? 🍅
When a manufacturer, distributor or retailer enters the market with a new product, it can be particularly difficult for them to know which pricing strategy will maximise product sales and margins. Should they choose a price skimming strategy or penetration strategy? Should they be setting an…
How To Increase Insurance Sales With Customer-Focused Pricing Strategy 🛡️
The Australian Securities & Investments Commission claims that pricing failures are all over the insurance industry. For insurance companies, developing a pricing strategy is a complex process that involves careful consideration and evaluation of various factors. Insurance companies look at factors such as an applicant’s age, health,…
How To Drive Up Live Game Sales By Leveraging Sports Ticket Prices 🏟️
Live sports ticket prices have been steadily rising over the past few years. Between 20 years ago and now, the average annual inflation rate for attending sporting events was 2.88%. This implies that tickets to sporting events that used to cost $100 now cost $186.75. So…
7 Ways to Avoid Price Mistake Deals in a Downturn 🐰
Price mistake deals in a recession are among the worst that could happen to a business. Recessionary times can be challenging for businesses. Companies must ensure that they are offering competitive prices and taking all necessary steps to remain profitable while managing their costs. But a…