Category Archives: Pricing

How Do You Know If It Is Good Enough?

Posted on January 30, 2018 by

I found a good article in Entrepreneur Magazine discussing the frustrations of perfection vs good enough. As the title states, the author provides two questions she feels you should ask to help you know when good enough really is. Her … Continue reading →

Posted in customer satisfaction, Pricing, strategy, What | Tagged , , , , | Leave a comment

The Pyschology of Price

Posted on November 7, 2017 by

I am continually fascinated by how the mind works, especially when it comes to price. Bundles are often a great way to get people to buy more (up-sell or cross-sell). Making it easy to order often times gets people to buy … Continue reading →

Posted in Pricing | Tagged , , , , , | Leave a comment

Are Your Customers Buying On Price?

Posted on January 21, 2016 by

“There is nothing in the world that some man cannot make a little worse and sell a little cheaper, and he who considers price only is that man’s lawful prey.” I remember first seeing this quote by John Ruskin in … Continue reading →

Posted in Pricing | Tagged , , , , , , | 3 Comments

Brand Position And Price Position Must Align

Posted on October 8, 2015 by

Regular readers know I often comment in this blog on articles I read. Sometimes I find an article that is just really good, and I can’t add to it. Here is one by Al Ries on pricing strategy and brand … Continue reading →

Posted in brand, Pricing | Leave a comment

Bigger Words = More Money

Posted on March 10, 2015 by

Most of us have probably heard the disparaging remark that lawyers are paid by the word. Turns out they are not the only ones. According to Stanford computational linguist, Dan Jurafsky, based on his analysis of restaurant menus, “The more … Continue reading →

Posted in communication, market research, Pricing | Tagged , , , | Leave a comment

Pricing Is A Talent

Posted on January 27, 2015 by

In full disclosure, I am not a fan of Gogo Inflight Internet service. I am a fan of wi-fi equipped airplanes, and of being able to access the Internet and email in the air; just not of Gogo. However their … Continue reading →

Posted in airlines, customer service, Pricing | Tagged , , | 1 Comment

Pricing for Profit

Posted on August 5, 2014 by

Substantial research and evidence exists to show that people are irrational about prices … and predictably irrational. Another study, this time in the hospitality industry, demonstrates this fact. Cornell University did a research study on menu pricing in restaurants. The key … Continue reading →

Posted in Pricing | Tagged , , , , , | Leave a comment

What’s In A Name?

Posted on May 13, 2014 by

Companies spend big bucks selecting product names. Rebranding efforts are often driven by the perceived need for a “better” name. Some names have struck me as odd. One of my all time favorites was Non-Bleach Clorox. If Clorox=Bleach, what is … Continue reading →

Posted in brand, Marketing, Pricing, What | Tagged , , | Leave a comment

Make More Money By Selling What They Are Buying

Posted on April 22, 2014 by

Last week I posted about the difference between focusing on what you sell and what the customer is buying using the Stradivarius violin as an example. A new/old example came up again this week: Corona Beer. Bloomberg News, in an … Continue reading →

Posted in Pricing, What | Tagged , , | Leave a comment

What You Sell Is Not What They Are Buying

Posted on April 17, 2014 by

Why would people pay more for something that is provably the same as another thing that is less expensive? Two pairs of jeans can come off the same production line, one gets a “private label” and the other a “designer … Continue reading →

Posted in Pricing, What | Tagged , , , | 1 Comment