Financial Strategies

Pricing in Difficult Economic Times

Nearly every global leader now faces an economic crisis on top of a health emergency. The pandemic forced the government to temporarily shut businesses down, declare a nationwide lockdown, and stop any movement to and from the country and the difficulty in pricing. Thus, resulting in an economic fallout that is still evident until now, …

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Value-Based Pricing vs. Cost-Based Pricing

People have different motivations for why they get into the business. While a business can exist because of a variety of reasons, they all have one thing in common: monetary compensation. Businesses need to make money. Otherwise, it will cease to exist and there comes value-based pricing. In its simplest form, businesses earn by exchanging …

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How to Raise Your Prices the Right Way

Maybe you’re finding yourself swamped with new clients, and you cannot refuse new ones who want to get on board. This issue is a beautiful problem to have as an entrepreneur. One of the ways to address this is by increasing your price. Your new price would act as a filter that would sift through …

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VAT Cut for the Hospitality Sector

Covid-19 has forced many difficult decisions to be made. When the UK government urged people to avoid social contact and stay at home, it was to slow the spread of the disease. However, it also had another effect. One of the consequences of flattening the curve is a chilling effect on the economy. For the hospitality …

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How Much Should I Spend On My Marketing?

Would you believe that most companies fail in the introductory phase not because of the lack of business activity but rather because of disproportionate or inappropriate spending? When you first open a business, whether online or offline, a considerable amount of time, effort, and money must be spent to grow it. However, it’s also important …

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What is Good Value Pricing?

In the 1980s, Richard Thaler, the godfather of behavioural economics, came out with the Beer on the Beach Experiment and found that people on a beach were willing to pay more for a cold beer purchased from a five-star hotel than from a rundown grocery store. This goes against what traditional economics believe that, regardless of where …

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What are the Advantages and Disadvantages of Value-Based Pricing?

Value-based pricing is a strategy of assigning prices based on the customers’ perceived value of a product. Depending on its execution, your business can reap the benefits of this strategy. However, like every pricing strategy out there, it isn’t flawless. Let’s take a quick look at what value-based pricing is, and the pros and cons …

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4 Great Ways To Fund Your Business

Starting a new business is always a great idea. Many people dreamed of owning their own businesses; to finally escape the vicious cycle of the 9 to 5. In fact, most employees these days do not envision themselves spending all their productive years working for big corporations. Most of them hope that, at some point, …

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What is Value-Based Pricing?

A lot of nitty-gritty goes into putting a product or service into the market. There are research and development, production, and marketing as well as value based pricing. But all those are just the tip of the iceberg. Behind those major milestones are innumerable tasks that require time and resources. Naturally, businesses would like to …

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What Is Quantitative Easing?

The UK economy is, without doubt, struggling due to the backlash of the extended Coronavirus lockdown period. Just March of this year, an estimated 21,000 more businesses have filed for bankruptcy than March of last year. While some argue that these businesses would have failed with or without the emergence of COVID-19, experts believe that the global …

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