Ksenia Shuvakina

Ksenia Shuvakina
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Recent Posts

Are you pricing too low?

Posted by Ksenia Shuvakina on September 3, 2015

Introduction

The price you charge for your product or service is one of the most important business decisions you make. Setting a price that is too low will - at best - limit your business growth.  At worst, it will cause serious problems for your sales and cash flow.

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What's your pricing strategy? A look at high-low pricing

Posted by Ksenia Shuvakina on September 1, 2015
High-low pricing is a type of pricing strategy adopted by companies, usually small to medium sized retail firms. The basic type of customers for the firms adopting high-low price will not have a clear idea about what a product's price would typically be or have a strong belief that "discount sales = low price." Customers for firms adopting this type of strategy also have a strong preference in purchasing the products sold in this type or by this certain firm. They are loyal to a specific brand.
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What's your pricing strategy? A look at cost-plus pricing.

Posted by Ksenia Shuvakina on August 24, 2015
 

Cost plus pricing is a cost-based method for setting the prices of goods and services. Under this approach, you add together the direct material cost, direct labor cost, and overhead costs for a product, and add to it a markup (an increase in the cost of a product to arrive at its selling price) percentage (to create a profit margin) in order to derive the price of the product. Cost plus pricing can also be used within a customer contract, where the customer reimburses the seller for all costs incurred and also pays a negotiated profit in addition to the costs incurred.

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What's your pricing strategy? A look at penetration pricing.

Posted by Ksenia Shuvakina on July 23, 2015
 

As we discussed earlier in our blog, finding the right pricing strategy is an essential key for the success of your business. This article takes a look at Penetration Pricing, a strategy that aims to increase market share of a product, providing the opportunity to increase price once this objective has been achieved.

Penetration pricing is the pricing technique of setting a relatively low initial entry price, usually lower than the intended established price, to attract new customers. The strategy aims to encourage customers to switch to the new product because of the lower price.

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What pricing approach do I need to reach my business objective?

Posted by Ksenia Shuvakina on July 20, 2015
 
Pricing objectives can vary from one organisation to another. It depends on many factors, such as activity of the organization, size, and resources available. In this article, you can find a brief guideline to the various types of pricing objectives you may have, and how they support the pricing decisions you make.
 
Ultimate Guide To Retail Pricing
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7 Steps to the Right Price

Posted by Ksenia Shuvakina on July 15, 2015
 

Price is one of the four main elements in the marketing mix('4 Ps': product, price, place and promotion). All the elements of the marketing mix influence each other. They make up the business plan for a company, and handled in the right way, can provide exceptional success for your company.

 

 

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What's your Pricing Strategy? A look at Product Line Pricing.

Posted by Ksenia Shuvakina on July 9, 2015
Finding the right pricing strategy for your business is imperative, as it one of the key drivers to your success. This article takes a look at the strategy: Product Line Pricing, and aims to evaluate the situations where it is most effective.
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10 Quotes why Pricing Matters

Posted by Ksenia Shuvakina on July 6, 2015

In an earlier post we looked at four reasons to test your pricing TODAY! Still not convinced? Take a look at these ten quotes: 

  1. “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 percent, then you’ve got a terrible business.”– Warren Buffett, American business magnate ["Top 40 Buffet-isms: Inspiration to become a better investor", 2013, Forbes].
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A bite-size introduction to eCommerce

Posted by Ksenia Shuvakina on July 2, 2015

Introduction

E-commerce or electronic commerce refers to the transaction of goods and services through the internet. This article aims to introduce the history, pros and cons, and how e-commerce is likely to be adopted further in the future.

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