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Pricing

The Roadmap for Fast Profit Growth

Reducing variable costs is important for profitability, as is optimizing sales volume to leverage fixed costs. But for most companies, improving realized price (the price you actually receive) is the fastest, most effective way to grow margin and improve profitability. Today, a growing number of companies are focusing on pricing processes and capabilities to improve profitability. They understand that because customers’ perceptions of value vary—as does their “willingness-to-pay” for that value—it is important to treat…

Eight Psychological Pricing Techniques to Test on Your E-Commerce Store

Psychological Pricing Is a Strategy Which Is Based on the Idea That Prices of Certain Products Create a Greater Psychological Impact in the Mind of a Consumer. Pricing Strategies Are Important Components of Growing Your E-Commerce Business and Increasing ROI Warren Buffett had quipped, “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. ” Pricing strategies are important for any…