How You Can Reduce the Pain of Paying

Posted by Moira McCormick on October 16, 2018

Getting paid on time is one of the most frustrating issues for businesses. Customers are never  overjoyed to part with their money. But if they are happy with your products and service they are much more likely to pay within the negotiated time frame. 

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Topics: Customers, Willingness to Pay, Paying

Forget Cost-Plus Pricing - Sell Value Instead

Posted by Moira McCormick on August 2, 2016

Typically - if you are offering a product that provides more value than the competing alternative, customers will choose your offering. If your offer provides less value than its competing alternative, customers look elsewhere.

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Topics: B2B, B2C, Value, Cost Plus, Margin Growth, Willingness to Pay

Major Things to Consider When Changing Your Pricing Strategy

Posted by Moira McCormick on August 1, 2016

What to Consider?

Need to change your pricing strategy? That's a pretty big deal and a decision not to be taken lightly. The best way to avoid having a heart attack whilst you ponder this knotty issue is to break down (not literally) all the things you need to consider into smaller "compartments" and resolve each issue separately before you come to a final decision on your optimum pricing strategy and how you are going to achieve it.

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Topics: Margin Growth, Pyschological Pricing, Willingness to Pay, Pricing Strategy

Use Price Segmentation for Profit Growth

Posted by Moira McCormick on July 18, 2016

It's a fact that no two customers have the same Willingness to Pay, but you naturally want to capture as much of each of your customer's Willingness to Pay as possible. The answer could be to charge different prices to different customers – known as price segmentation or price differentiation.

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Topics: Pricing Strategy, Pricing Elasticity, Willingness to Pay

9 Factors that Affect a Customer's Willingness to Pay

Posted by Moira McCormick on October 2, 2015
Willingness to pay (WTP) is the maximum amount an individual is willing to hand over to procure a product or service. The price of the transaction will thus be at a point somewhere between a buyer's willingness to pay and a seller's willingness to accept.
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Topics: Willingness to Pay

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