$40.00 can outsell $39.72

consider prestige pricing strategies Recent research found that 60% of retailers view higher margins as a top priority. This may not be surprising for retailers, or perhaps any business, given how tight margins are in 2018 and the direct relationship between margins and profitability. The question remains, however, how do businesses increase their margins? One […]

consider prestige pricing strategies Recent research found that 60% of retailers view higher margins as a top priority. This may not be surprising for retailers, or perhaps any business, given how tight margins are in 2018 and the direct relationship between margins and profitability. The question remains, however, how do businesses increase their margins? One option is to cut costs and another is to increase prices. This is the second of five thoughts addressing the latter. Most marketers and, I suspect, most consumers are familiar with pricing strategies built around the number ‘9’. Many products are sold for 99 cents, $9.99, $99.00, or $999.00 etc. The fact is, there is also a truck-load of research to suggest that the use of the number ‘9’ in prices in this way works. It does make people view a good or service as being cheaper. Due to some unconscious quirk of the human…

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Five Tips For Reducing
The Cost Of Branding.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

Burning money on branding is more common than most marketers think. Because few businesses truly understand what a brand is and how branding works, advertising agencies, branding agencies and design studios have become expert at spending their client’s money without effective accountability.

1. Get out of the boardroom.

Perhaps the two most concerning issues about branding are the lack of understanding about what brand and branding are and the propensity to develop brands in the boardroom, perhaps with the help of a consultant.....

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