In its most essential sense, a price is a sum of money a customer pays for your product and a pricing strategy is a model or a method used to establish that price. A price that maximizes profits and business value while taking into account consumer and market demand. If only pricing, especially fashion products, …
Beyond Discounts: The Strategy And Tactics of Pricing Fashion Read More »
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half*.” John Wanamaker How was your Black Friday & Cyber Monday Sale? Many businesses reported that this year Black Friday was easier than in 2017, more rewarding and even more fun. If you’re underwhelmed and all you can say is meh and where did my ad …
Transactional Thinking: Why your Black Friday strategy is failing. Read More »
You can make any price appear lower by implementing price anchoring, the human brain bias of relying too heavily on the first piece of information we see.
Planning yet another promotion, sale or discount? You should probably rethink that. Promotional pricing can cost you millions in lost sales by killing your brand value and by having an adverse effect on your sales. In fact, research has shown that discounting can cost retailers millions by simply NOT selling. What is promotional pricing? Promotional pricing is …
From priceless to replaceable: How promotional pricing devalues your brand Read More »
“Facts matter not at all. Perception is everything. It’s certainty.” …
Psychological Pricing Magic: How to make your prices seem lower. Read More »
