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You charge a higher price for a more reliable product if reliability is perceived as a benefit by the customer. But how do we to make a customer perceive reliability as a benefit?
More The group Georgette Sand is taking a stand against price discrimination directed at female consumers. How do I, a woman and a pricing professional, respond to gender based price discrimination?
More New research from Stanford Graduate School of Business Prof. Kathryn Shaw sheds new light on the age-old question of whether entrepreneurs are “born” or “made.” The answer: entrepreneurs are “made” NOT “born.”
More Value-based pricing aims for prices to reflect the value customers associate with a product or service offering. Simple enough to state, but what does this mean?
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“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.” -Warren Buffett The…
More The banking services sector is one of the most profitable sectors out there. It is not uncommon to earn an ROE of anywhere between 40%-60%. And as we all know, a 1% increase in price can lead to an 8% increase in profits.
So how do we ensure we get the most profits out of banking services? Are there any secrets? I spent 28 years of my life in the banking services sector and here is what I learnt.
More I was asked at Riot Fest Chicago what I did and chose “Economics” as my answer for the moment. He continued: “Micro…
More Why does a paper published in 1965 have customers calling looking for discounted prices? And when are these requests reasonable? Anirban Sengupta discusses.
More In Econ 101, we are taught that lower prices lead to higher sales volumes. In sales, we hear directly from customers that the prices are high and they want a discount. And in marketing communications, we learn to “sweeten the offer” in promotions and advertising. But is price really the most important driver to customer purchasing behavior?
More Nine West’s recent ad campaign has been getting a lot of press since its release, with a lot of controversy surrounding it. Mary DeBoni weighs in on the positives and negatives.
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