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Additional Fees, aka: Junk Fees, Hidden Fees, and Sneaky Fees. What should a marketer or pricing professional think of them? Additional Fees are Common Additional fees are a common part of many businesses. True, many businesses avoid them at all costs but as a consumer I find them nearly unavoidable. The financial service industry has created an entire library of fees. Consider: Banks charge fees related to overdrafts, non-network ATM, minimum account…
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Shepherding a management decision can be difficult. Without a story, it is nearly impossible. Pricing professionals have many tools in their toolboxes, but I advise all of you to not underestimate the power of storytelling in your pricing projects.
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How do you market a product that is still federally illegal? There is a form of marketing that’s ideal for marijuana – it’s called guerrilla marketing. It uses cost-efficient techniques to capture brand awareness with the target market without interrupting them.
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Campbell Soup Co. (CPB) announces price increases to counter rising steel costs, Taiwan Semiconductor Manufacturing Co. announces price increases ahead of fall negotiations, and MCR Hotels starts charging for previously free amenities.
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Sometimes – ok, maybe often – a pricing study delivers facts that are in opposition. One measurement indicates the price should be high, while a different measurement indicates the price should be low. What should be done?
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