tag:blogger.com,1999:blog-37391731300775162792011-07-30T14:14:20.417-05:00Welcome to Pricing for Profit. Arguably the most important issue for any business is to optimise its selling prices, yet so many businesses pay scant attention to pricing strategy. Get it right and it will drive additional net income – straight onto the bottom line!Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.comBlogger191100tag:blogger.com,1999:blog-3739173130077516279.post-79604675635786819092007-02-24T11:24:00.000-05:002007-02-24T11:25:38.061-05:00

You will all have heard the phrase “sell the sizzle not the sausage” and you probably associate it with the sellers of snake oil and believe that, in today’s ‘information’ market the price is all-important in the hunt for the elusive sale. Well, it is, as long as you’ve weighed it up and your proposal is no better, or even worse than the majority of your competitors. If your product, service,

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-14691733940279951862007-01-25T09:17:00.000-05:002007-01-25T09:30:25.388-05:00

I was scanning the net looking for new information when I came across this presentation from Karmak Training in the US. Dollars or pounds (or Euros come to that), the arithmetic works!To download it free here Click Here!Hope you find it interesting!Crockett

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-54499850315647977112007-01-12T15:00:00.000-05:002007-01-12T15:41:02.798-05:00

1. Have a pricing strategy. It is surprising how many companies don’t have a proper pricing strategy and handle it in a very ad hoc way. Have a look at the article posted on December 9th 2006 called ‘Three Ways of Pricing’. This expands on a) cost plus – the least profitable way in my opinion, b) competitive – important to know where you’re pitched and c) value – where you price up your whole

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-63940121654345137702007-01-07T07:22:00.000-05:002007-01-07T07:23:27.831-05:00

Do you ever wonder where your time has gone? I don’t, I know where my time has gone! Most of it’s wasted in never ending meetings that rarely achieve anything except to establish the date and time of the follow-up meeting.First there are weekly management meetings with massively long agendas that seek to resolve every problem the company has ever encountered, but actually cause more by setting

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-19202591321232833572007-01-01T11:18:00.000-05:002007-01-02T10:40:43.052-05:00

If you are working in a traditional repeat-business company, you probably have a field based sales team. If so, the team are probably calling on the same customers on a monthly (maybe more frequent) basis. Because your sales team is well trained and enthusiastic, as well as servicing their existing customer base, they will be trying to follow-up new leads and find new customers by networking

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com1tag:blogger.com,1999:blog-3739173130077516279.post-20272216558971519992006-12-24T14:54:00.000-05:002006-12-24T15:25:50.985-05:00

The following comes from a review by Martin Fagan of Squaremilebookstore.com of the book, The Real Warren Buffett, by James O'Loughlin.Whilst this is not about pricing, there are a couple of bits in it that I think are interesting, the first being the leaky boat quote and the other the price/value principle. It reminds me that whatever price you charge, it should represent value to your customer

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-31612939517119506442006-12-23T11:01:00.000-05:002006-12-23T11:29:18.070-05:00

I found reference to this on Dollars and Sense at www.mimiran.blogspot.com Mark Roth, Sunday, December 17, 2006Today's Pittsburgh Post-Gazette features patterned sweaters at Kohl's for $19.99, women's jeans at Kmart for $16.99 and a turtleneck at Macy's for $8.99.The 99-cent pitch isn't limited to apparel, of course. There's a Nikon camera at Circuit City for $129.99, a remote-controlled

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-28156295513334651482006-12-19T10:29:00.000-05:002006-12-19T10:34:03.540-05:00

"Pricing is the moment of truth - all of marketing comes to focus in the pricing decision." (Professor E. Raymond Corey of Harvard Business School, 1962).Many of the companies I have worked for have had no pricing strategy or accountability, pricing being something that just happened. When costs go up, just put the price up; when competition comes along, or wakes up, then just match the price.

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-38003303459956091732006-12-19T04:58:00.000-05:002006-12-19T05:14:38.165-05:00

Ohio State University Fact SheetCommunity Development700 Ackerman Road, Suite 235, Columbus, OH 43202-1578PricingCDFS-1326-95Small Business SeriesGregory R. PassewitzIn business it is possible to have the very best product or service and have excellent sales volume, but if the wrong price has been set on the product or the service the business will eventually fail. In any business, the ultimate

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-3194608108695466922006-12-14T12:45:00.000-05:002006-12-21T10:13:31.835-05:00

Not a lot to say today; I've been Christmas shopping rather than working! However, I started out first light and missed most of the rush, so it's mostly done now. Having started shopping early (for me) this year, I was able to select from a wide range of cards instead of picking through the remains, but I was astonished at the price of them.I bought just four fairly standard sized cards for

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-15003626228561235772006-12-13T13:30:00.000-05:002006-12-13T14:17:45.310-05:00

I don't know much about wine, although I should, I've drunk enough of the stuff! But, the pricing is very confusing. Take French wine; now I know beyond a shadow of a doubt that the French make the finest wines, but I also know that very little of their best stuff finds its way to the UK. I spent five years working for a Paris based company, quite a lot of it in France and I have yet to have a

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-83470924003455287502006-12-13T06:20:00.000-05:002006-12-13T06:21:11.456-05:00

To improve your profitability you must either make a larger gross margin on each dollar of sales or sell more without increasing your fixed costs. It goes without saying that the greatest improvement will be realised when you achieve both simultaneously.Remember your gross margin is the difference between the price of your product and what it costs you to buy or make it. Therefore, the only way

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-31919544133475169282006-12-11T10:48:00.000-05:002006-12-11T11:04:16.062-05:00

I've just come across this and although this was written a few years ago, I thought you may be interested. Crockett. © 2002 Elena FawknerIt goes without saying that the bottom line of any successful business is profit.Don’t make a profit and you won’t be in business for very long.Making a profit is pretty simple really.You just have to make more than you spend. The trick is to know how much you

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-47745150575740034242006-12-11T10:06:00.000-05:002006-12-11T10:40:18.146-05:00

My fence blew down last weekend, well two panels and one fencepost did. Obviously I did what any sensible person would do and ignored it until the other half suggested 'action this day'. I examined the damage, kicked it a bit and decided to visit Wickes Builder's Merchants (because they're nearest).Happily, they had the panels and the post and the chap sold me a bag of 'Postcrete' which is

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-84068317141588906932006-12-09T11:50:00.001-05:002006-12-10T12:28:02.685-05:00

Although retail pricing is a fascinating subject in itself, B2B pricing is equally interesting. Where your business sits in the distribution chain and how long that chain is influences how you set your pricing strategy.There are probably just three basic ways you can price:Cost plus: this is where you decide how much profit you want to make from a given product and you apply the margin to the

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-66750873791633996152006-12-08T17:03:00.000-05:002006-12-08T17:13:05.813-05:00

Pricing is an important aspect of every business because price is used to create financial projections, establish a break even point, and calculate profit and loss. It's also important to establish a good price point from the beginning because it is much easier to lower prices than to raise them.Q: My partner and I are having a hard time coming up with what we feel is the perfect price for our

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-83282974721075205112006-12-08T16:27:00.000-05:002006-12-10T12:31:09.728-05:00

A gross margin is not the same as a mark-up. If a product costs £1.00, a mark-up of 33% will produce a selling price of £1.33, which is a gross margin of 25% ((£1.33 - £1.00) / £1.33).If you want a gross margin of 33%, take the cost price of £1.00 and divide it by 0.67, (100 – 33 / 100) which equals a price of £1.49. If you want a GM of 40%, then divide by 0.60, (100 – 40 / 100), which equals

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-79410452413538445792006-12-07T14:44:00.000-05:002006-12-07T15:06:36.817-05:00

Have you ever wondered how manufacturers and distributors set their pricing?After more years in the UK automotive aftermarket than I care to remember, most business to business (B2B) pricing strategies remain a complete mystery to me (and also to their architects I believe). Rather than expend effort learning about their market, customers and competitive position, they sit in an office and set

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0tag:blogger.com,1999:blog-3739173130077516279.post-32487040685172072762006-12-06T16:22:00.000-05:002007-01-02T16:48:02.978-05:00

Welcome to Pricing for Profit. Arguably the most important issue for any business is to optimise its selling prices, yet so many businesses pay scant attention to pricing strategy. Get it right and it will drive additional net income – straight onto the bottom line!

Crocketthttp://www.blogger.com/profile/13054942611294880213noreply@blogger.com0