Best Pricing Strategies for Online Retail

Posted by Moira McCormick on June 29, 2017

Online retail has grown significantly whilst traditional shopping on our high streets has seen a marked decline - once proud small retailers have now been deposed by coffee shops and charity stores.

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Topics: Online Retail

Is There a Better Way to Implement Your Pricing Strategy?

Posted by Moira McCormick on June 27, 2017

If your end of year results turn out to be poorer than expected, is this always the time to change your pricing strategy? 

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Topics: Pricing Strategy

Size Doesn't Matter When it Comes to Being a Price Leader

Posted by Moira McCormick on June 22, 2017

You don't have to be the biggest competitor to be a price leader.

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Topics: Price Leader

Make Better Pricing Decisions Using Big Data

Posted by Moira McCormick on June 20, 2017

On average, a 1% price increase translates into an 8.7% increase in operating profits (assuming no loss of volume).

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Topics: Big Data

Every Pricing Journey Starts with One Step

Posted by Moira McCormick on June 15, 2017

A journey of a thousand miles starts with just one step.  We say that your first "baby" step on your pricing journey should be to decide on your pricing objectives.  Pricing objectives give direction to the whole pricing process. 

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Topics: Pricing Journey

How to Secure Your Prices

Posted by Moira McCormick on June 13, 2017

Pricing your products and ensuring you have built in sufficient margins to sustain your business is one of the most important decisions you’ll make. 

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Topics: Pricing

Pricing Drives Sales

Posted by Moira McCormick on June 7, 2017

The one thing that is going to stop your customer's in their tracks is price, whether that price is ridiculously low or flying high amongst the clouds.  Or, on the other hand, it could be that your prices seem fair to them, offering value and benefits not seen elsewhere, i.e. your prices are just right.

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Topics: Pricing, Sales

How to Excel as a Pricing Executive

Posted by Moira McCormick on June 6, 2017

Renowned investor Warren Buffett has said, “The single most important decision in evaluating a business is pricing power. If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10%, then you’ve got a terrible business.”  Getting your prices right is key to business success and there is therefore no question that the role of a pricing executive is a responsible one.

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Topics: Pricing Executive

How to Optimise Your Prices and Grow Profits

Posted by Moira McCormick on June 1, 2017

 

How many times have we stressed the importance of getting your pricing right?   Too often you might say.

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Topics: Optimise Prices, Profits

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