Supply and demand. Selling and buying. Outputs and inputs. Context and anchors. Psychology and behaviour.   CUSTOMER-CENTRIC MARKETING To be ethical, marketing must be customer-centric. For a business to be ethical, the marketing must be customer-centric. There are few things more unethical than convincing a human being they should buy something they neither need […]

  Supply and demand. Selling and buying. Outputs and inputs. Context and anchors. Psychology and behaviour.   CUSTOMER-CENTRIC MARKETING To be ethical, marketing must be customer-centric. For a business to be ethical, the marketing must be customer-centric. There are few things more unethical than convincing a human being they should buy something they neither need nor want.   To maximise profitability and performance more generally, business and marketing, in particular, need to be customer-centric. Customer-centric marketing is the key to maximising sales, margins, the average sale per customer, repeat business rates and referral rates. Like all other aspects of marketing, pricing can and should be customer-centric. Indeed, research suggests that the more customer-centric the pricing strategy, the greater customer satisfaction and business profitability. PRICING Perhaps no aspect of marketing is harder to get right than the pricing strategy. This may be why so many businesses rely on the simpleton ‘cost-plus’ pricing…