Pricing can make or break the brand. In 2008, CalTech did a study on price and the experience of drinking wine. Researchers discovered that people found the wine that they were told to be more expensive as more enjoyable to drink – even if the wine was identical to the other wine they tasted. In …
Common Luxury Pricing Mistakes That Destroy Brands Read More »
Pricing strategies are tricky to put together, and even more nerve-wracking to execute. The correct pricing can mean success for your business, but pricing your products wrong results in a major loss of profits. This is especially true for luxury product pricing. Luxury products are harder to price as the variables to consider are more difficult …
Luxury Product Marketing: How to Determine Pricing Strategy? Read More »
Proper pricing is a significant part of running a successful business. Whether you’ve been running the business for a while now, or have just started recently, increasing your prices is always tricky. In this article, we will be tackling on signs that you should increase your prices now. It is especially scary for freelancers and …
Proper pricing is a significant part of running a successful business. Whether you’ve been running the business for a while now, or have just started recently, increasing your prices is always tricky. In this article, we will be tackling on signs that you should increase your prices now. It is especially scary for freelancers and …
If you are passively observing market prices at this time, your initial answer to the question posed in the title would be “Yes, products do get cheaper.” However, if you dig a little deeper, this is actually not the case – for most companies, at least. In this article, we will be discussing more on …
The Pareto Principle In this article, we will be discussion on three pricing secrets that will transform your bottom line. We all know the 80-20 rule, also known as the Pareto Principle. In business, this means that 80% of your profit will come from 20% of your time. However, that means that 80% of your …
3 Pricing Secrets that Will Transform Your Bottom Line Read More »
Many entrepreneurs and businesses, especially startups, often fear one thing: Losing opportunities to sell and profit. This fear also often cripples them and prevents them from moving forward with their business, and they end up missing out on opportunities that they could have profited more from online business. One such instance when this fear is …
How to Set and Raise Your Prices in Online Business? Read More »
When you are starting, one of the biggest concerns that you may have about running a business is identifying at which price point you should offer your services to clients. When you are a product-based business, this situation plays out differently. You can determine your pricing based on the computations you have on raw materials, …
One of the most nerve-wracking questions a client can ask you during a discovery call is this: “How much is your rate?” It can catch you off guard even if you already have a price in mind. What if it’s too high and I end up losing this client? What if it’s too low and …
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, …
