You may have heard of value-based pricing and dismissed it off the bat. Perhaps it seemed too complicated, and it felt easier to cost your product according to more traditional rules. With innumerable eCommerce pricing strategies available to choose from, you could be forgiven for...
Economists would say that demand dictates the price - it’s as simple as that. Apart from economists, the transportation industry has agreed with this statement for years. That’s how a surge pricing strategy kept fueling one debate since the 1950s. Is it foolish to expect fairness in...
Do you happen to have a pulse oximeter at home? If you have it most likely you bought it over the past two years. Correct? The COVID-19 pandemic gave tremendous rise to the market for medical equipment for at-home health monitoring. This rise in demand...
If we asked you who your competitors are, would you know the answer? The answer would probably be something along the lines - companies from the same branch, that are selling similar products at a similar price. That’s correct, but not completely. We can already see...
The first association with the adjective “sticky” is usually connected to food (or sticky notes if you are a student), but yes, that’s right, prices can be sticky too. Sticky prices mean exactly what they sound like - they resist moving or changing. Since the...
Target return pricing is a strategy that is used to set the product price based on the expected rate of return on the investment. Or in other words, it’s the profit that the firm can expect in the future from a certain investment, such...
Pricing is the backbone of the eCommerce industry. Every day, and even every hour billions of prices around the world are changing, and that process is known as repricing. The reasons behind fluctuating prices are numerous - change in demand, change in competitor prices, overall...
Did you know that charging more can increase your sales? It’s a common belief that your sales will roar if you lower your prices, but is this a sustainable solution on the long track? How about the opposite strategy- raising prices can bring you some...
The ingredient that successful business owners add to their success recipe is "Pricing"! Though several other factors are contributing towards the upliftment of a business, the most important be the pricing of a product. It is given much importance because this is one such factor...
All businesses, from time to time, hit a wall. In those situations, you’re looking for a fast, yet an efficient solution that will spur the customer interest again. You might need a total rebranding, but let’s face it, no one will start with such drastic...