Markup pricing as pricing strategy

When it comes to pricing multiple products in a fast and efficient way, markup pricing is often the go-to pricing strategy for retailers. The relative simplicity and scalability of this technique makes it the only logical choice in some cases.  This pricing technique —also known as cost-based pricing— is based on adding a markup to […]

Price signaling as part of your marketing mix

How to use price signalling in marketing It doesn’t matter if you’re a price signalling expert, or hearing this term for the first time. If you have a product with a consumer base, you are already practicing price signalling, even if you don’t know it. Price signalling plays a vital role in how people perceive […]

Pricing over product lifecycle

The life cycle of a product helps organizations make major pricing decisions and policies that ensure that the product survives the cut-throat market competition and stays afloat no matter how challenging the situation gets. The product life cycle pricing ensures that the buyers are enticed to choose a brand over the others time and again. Pricing strategies can make […]

Promotional Pricing Strategy

Promotional pricing strategy aims towards increasing brand awareness and attracting customers by offering massive discounts and deals. The market strategy creates a perception of time-based scarcity in the minds of the consumers. Get 50% on all the exclusive designer collections. Hurry limited period offer! Every shopper would give a second glance at an exciting offers […]

Recommended Retail Price and How to Use it Effectively

In today’s extremely competitive market, what does it take to make your sales figures rise? Let’s be honest: it’s much more than simply offering an attractive product. Because competitors can even reach your target audience from the other side of the globe, you’re facing more competition than ever before and you need to find ways […]

Understanding Customer Lifetime Value in e-commerce & retail

The customer lifetime value (CLV) is a valuable metric that shows the total amount of money a business expects a customer to spend on products and services throughout the customer relationship. Businesses need to know who their most valuable customers are and customer lifetime value is an important measure in determining that. Smart marketers are […]

How big of a difference in e-commerce prices is noticeable?

Have you ever wondered how some businesses can effortlessly increase their prices little by little? How do they do that? Well, Weber’s law enables them to do it, and many marketing and pricing experts absolutely swear by it. Go on; take a look at the current pricing of your products. There is no reason why […]

Five good pricing strategy examples and how to benefit from them

A pricing strategy considers factors like competitor actions, market conditions, consumer trends, and other variable costs to account for the pricing model of the goods. Businesses must decide on a pricing strategy before advertising products to customers. In this list, we will review the five most commonly used approaches to pricing and decide what fits […]

What is market cannibalization (and how to avoid it)

It is all too common for big brands to experience market cannibalization when they start marketing new products – this happens when the new product launches lower the sales of existing products from the same company. Having the right pricing strategy is vital for businesses, but it is a point of concern when they experience […]

Using machine learning to calculate price-elasticity

Machine learning refers to the study of computer algorithms that improve automatically through experience. It is seen as a branch of artificial intelligence and it focuses on automating analytical model building. It is based on the idea that systems are able to learn from data, identify patterns and make decisions with minimal human interaction. Why […]