Small Firms & Pricing: Questions to Consider – Part 4

by Joel R. Evans and Barry Berman This is the fourth in our series of six columns on hints for price-setting by small firms. How would you respond to these questions? Do you plan for stock shortages (due to shrinkage and clerical errors) when setting prices? How? Yearly, tens of billions of U.S. retail sales alone […]

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Small Firms & Pricing: Questions to Consider – Part 3

by Joel R. Evans and Barry Berman This is the third in our series of six columns on hints for price-setting by small firms. How would you respond to these questions? How does your firm use manufacturer suggested list prices? Before discounting grew, many retailers adhered to suggested manufacturer list prices, except when running sales. Consumers […]

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Small Firms & Pricing: Questions to Consider – Part 2

by Joel R. Evans and Barry Berman This is the second in our series of six columns on hints for price-setting by small firms. How would you respond to these questions? Do you have an overall pricing philosophy? What is it? These are company positioning questions to get you to reflect on your competitive niche; […]

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Small Firms & Pricing: Questions to Consider – Part 1

by Joel R. Evans and Barry Berman  One of the most crucial areas of decision making for small firm is pricing. Yet, we have found that small firms often do not have well-conceived pricing plans. And many such firms seem to panic (or ignore the problem) when large discount-oriented firms enter their trading areas – or […]

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Learning from Superior Pricing Web Pages

Lots of shoppers explore their favorite Web sites looking for information — and sometimes, even to purchase. The way that prices are presented online can go a long way toward determining whether people or motivated or demotivated to buy an item. Recently, Lindsay Kolowich, writing for HubSpot, identified 11 online pricing pages that serve as […]

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How Will YOU Pay for Your Holiday Shopping?

Interestingly, according to a recent survey of 1,000 people, 39 percent of holiday shoppers will pay for their gifts in cash, 32 percent will pay with a debit card, and only 22 percent will pay by credit card. Three percent will pay by check.   Take a look at this Wall Street Journal video to […]

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Will the New $50 Amazon Tablet Be a Success?

Amazon has offered a variety of Kindle Fire tablets for the last few years. These tablets are less expensive than the iPad and offer a number of features. Now, to pump up sales, Amazon plans to introduce a new $50 tablet in time for the holiday shopping season. HOW DO YOU THINK THIS PRODUCT WILL […]

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Amazon Creates Its Own “Prime” Holiday

To stimulate its Prime Membership business, Amazon has created a new “Prime Day” holiday on July 15, 2015. As Tim Parry recently reported for Multichannel Merchant: “While not unheard of globally, Prime Day appears to be the first self-created selling holiday launched by a U.S.-based web merchant. Selling holidays have shown to be successful in […]

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Big Data and Better Pricing Decisions

As we have written before (see for example, 1, 2, 3), more and more marketers have become involved in big data analysis. Now, comes new research from McKinsey about how the analysis of big data can be used to improve a company’s pricing decisions. McKinsey’s Walter Baker, Dieter Kiewell, and Georg Winkler note that: “It’s […]

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Aggravated by Airline Pricing?

The complexities and variability of airfares can be disconcerting even to the most patient people. Two recent articles appearing in the Wall Street Journal illustrate the situation. The second article referenced in this post shows how dire matters are to many fliers — the government is proposing a new disclosure rule.   First, Scott McCartney […]

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