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Topic: pricing

Pricing It Right: Trade Discounts

Trade discounts refer to a pricing strategy or incentive that a supplier might offer to a consumer to encourage loyalty and increased purchasing. There are many advantages to trade discounts for both the consumer and the supplier. Advantages of trade discounts for the consumer Lowered business costs By taking advantage of trade discounts, especiall ... Read More

  September 2, 2017     

Pricing, Quality, Perception and Profits: A Complex Relationship

Despite the impetus of most companies being to make money – more, more money – there is a significant gain to be had from also focusing on customer satisfaction. We will help you understand the complex relationship between pricing, quality perception, real quality and customer satisfaction. Although it is complicated, it has enormous benefits o ... Read More

  August 31, 2017     

Trade Discounts: Are They Right For Your Business?

For many businesses, discounts are a common tool to attract business, clear out slow moving inventory and reward loyal customers. For a business that is mostly in the business of manufacturing inventory, rather than in the retail space, discounts are a key tool to tailor service and pricing to your customers’ specific needs. Let’s take [&hellip ... Read More

  August 29, 2017     

Should Your Business Consider Discount Pricing?

Choosing a pricing strategy is a difficult decision, but one that every business needs to make. Pricing strategy affects most aspects of a business, including its revenue, market share and profitability. As a general rule, low prices are considered to attract customers, making cut price or ‘discount’ pricing strategies increasingly popular. Sho ... Read More

  August 28, 2017     

Five Reasons to Consider Trade Discounts

A trade discount is a variable reduction on the wholesale list price. Manufacturers and wholesalers typically publish a single price list rather than notifying prices to each different customer. Offering a specific trade discount to a customer is a way of varying the sale price for that particular customer. Trade discounts can be an important [&hel ... Read More

  August 10, 2017     

Contrasting Trade and Cash Discounts

Most businesses will use discounts and price reductions at some point in their business journey. For a growing business, discounts can be a way to attract business, clear excess inventory, differentiate between market segments or encourage prompt payment of invoices. Discounts are often thought to be the exclusive preserve of retail businesses. In ... Read More

  August 9, 2017     

3 Factors of Pricing and Customer Perceptions

Settling on a pricing strategy is a key decision that small businesses have to make. The decision is an important one as the prices you set affect your sales, revenue, cashflow and business performance. Pricing also has a direct bearing on customer satisfaction, a crucially important consideration for a growing business. So, how do your […] ... Read More

  August 8, 2017     

Delving into Discount Pricing Strategy

Pricing strategy is fundamental part of a marketing with a strong focus on generating revenue and, ultimately, profit for the company. In a marketing campaign, a pricing strategy, such as discount pricing, can be considered the pursuit of identifying an optimum price for a specific product. What makes a successful pricing strategy? Numerous factors ... Read More

  August 7, 2017     

Setting Prices: Five Key Strategies

When you’re first starting out, it can be difficult to set prices for your products. Although pricing can be a difficult problem, it is also a crucial one to solve. One of the biggest factors that determines a business’ future revenue is its pricing strategy. Let’s take a look at the basics of five well-known […] ... Read More

  August 5, 2017     

Accurate Costing for a Profitable Business

Accurate costing of your products can aid you in making well-informed decisions. Business costs must be accurate for several reasons, which we shall explore a little more in this article. Sales and budgeting Firstly, sales prices must be set accurately to ensure that firstly the company makes a profit, and secondly that they make the […] ... Read More

  August 4, 2017