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You may already think you're a bit of a pricing genius?!! You may have already settled into your first few months on the job. Maybe you've got that good degree - or even an MBA? Perhaps you've moved rapidly through the ranks and have landed a pretty amazing job in the pricing world. Are you sure however that you ALWAYS utilise your skills, expertise and know-how to squeeze out those extra profits for your business?

Should Your Pricing Strategy be Simple or Complex?

There is undoubtedly a desire from both Sales and Marketing professionals and consumers for a simple, easily understood pricing strategy.

Any business wants to maximise profits by pricing their goods and services at the right level – and to control those prices using an accurate pricing solution or price engine. Traditionally for many businesses price management has been conducted using Excel spreadsheets to calculate optimum prices – and to convey these prices to all concerned in the sales process. No-one is saying that Word and Excel Price Lists are a completely flawed system of managing pricing but the modern, accurate and more efficient way is to use a pricing software rather than the old fashioned methods that are so susceptible to error, manipulation and corruption.

What is Yield Management?

Yield management is the process of understanding, anticipating, and influencing consumer behaviour to maximize yield or profits from a fixed, 'perishable' resource, such as hotel rooms, tables in restaurants, theatre tickets, airline seats, media, telecommunications and energy, to name but a few.  The idea is to coordinate timing, price, and consumer buying patterns to achieve the best return.

Boost sales in retail: If you are a retailer, it's an unfortunate fact of life that sales will slump from time to time.  Don't feel too disheartened though: read on to get some good ideas about how to successfully increase sales and push your sales statistics upwards.

Supercharge Your Google Shopping Performance

We are thrilled to announce the launch of the Blackcurve Free Version - a powerful tool designed to revolutionise your Google Shopping performance and drive higher conversion rates.

Introduction

As an eCommerce retailer, your goal is strategically pricing and promoting products to beat the competition and drive sales.

But in today’s data-driven retail landscape, you can’t just guess at “smart” pricing. You need clear visibility into what competitors are doing.

How else can you know if your prices truly align with market rates? Or accurately identify opportunities to undercut competitor sales and promotions? The key is having rock-solid product matching capabilities.

When pricing, a seller must always consider the costs of shipping goods to the buyer. These costs grow in importance, as the freight becomes a larger part of total variable costs - quantity, weight and distance from seller will generally increase shipping costs considerably. Pricing policies can be established whereby the buyer pays all the freight expense, the seller bears the entire cost, or the seller and the buyer share this expense.

Introduction

Just how do consumers choose one retailer over another if the prices for the same goods are similar - or even exactly the same? Being the cheapest doesn't always win the sale and chances are that those consumers will be swayed to choose the retailer that offers the best product information, customer service/support, ease and timeliness of ordering, delivery and returns etc.

As a retailer it stands to reason that you'll need to offer excellent service to your existing customers to keep them loyal - and to ensure you win new customers along the way.  However, there are also some competitive pricing strategies you should try as well to win the day, so read on...