price is not all about discounting – 6 options Australian businesses seem to be obsessed with price – without actually understanding it. For most businesses, discussions of price are mostly about how much do we discount, when do we discount and for how long will we have to discount. There is an appreciation that dropping […]

price is not all about discounting – 6 options Australian businesses seem to be obsessed with price – without actually understanding it. For most businesses, discussions of price are mostly about how much do we discount, when do we discount and for how long will we have to discount. There is an appreciation that dropping prices threatens margins, but little understanding of how to avoid declining margins – other than screwing suppliers down. Here are six options to simple discounting. consider charging more There are many great stories about how increasing prices actually increased unit sales. A famous one involved a jewellery retailer that mistakenly put the prices of some goods up by 25% instead of down by 25% as intended. The products moved in record time. When consumers fail to purchase, it is all too often assumed that it is because the prices are too high, without actually knowing…