Some department stores use pricing to drive you to buy now, in other words-urgency. They have lots of short single day, weekend or three day sales. These sales are generally not on everything, but a lot of items are included. Most often, they send out...
With the addition of Ed Holmquist as the Vice President of Marketing Analytics, Apollo is adding a new Marketing Analytics service offering. Marketing analytics is the art of using data to improve marketing effectiveness while reducing its cost. The Apollo Consulting Group believes that using data...
It is pretty obvious how large retailers use price to drive sales volume. They claim to have the lowest prices for everything. Companies like Walmart do have low prices. They are huge, they buy in massive volume and they pay the lowest prices for everything...
Use Pricing to Drive Demand Ever bought pizza on a Monday? Not too many people do. Most people take time to enjoy their weekends and recharge for the week ahead. This includes eating out and doing other things they enjoy (as well as tasks around the...
Please take a look at an article I wrote that was published in the October edition of the Rhode Island Small Business Journal print and online versions (www.RISBJ.com) called How to Develop a Successful Marketing Strategy. It even made the cover! In this article, I talk...
You may have gone to a movie theatre on a weekday afternoon and found very few people there. You might even ask yourself why they bother to be open. The answer is simple economics. Movie theatres have a lot of fixed cost-Rent, utilities, etc. The...
The first step in developing a successful marketing strategy is to validate that you have a very solid business strategy. Business Strategy A business strategy defines how a company is going to create and deliver a valuable product or service to the marketplace. It is based on...
Pricing Fast food restaurants use pricing to drive your behavior. Most people are familiar with a selection of food offerings at Fast Food restaurants that are heavily discounted. These have many names such as the Dollar Menu or the Value Menu, etc. The restaurants are trying...
For the next couple of posts, I will be telling you about how large companies use pricing to drive your behavior in ways that benefit them. Everyone is familiar with how most cars, SUVs and trucks come in different trim levels. The higher the trim level,...
An effective pricing strategy is one of the most powerful tools any company has to increase profitability. Very importantly, it is a business tool completely within your control. You can use pricing to drive customer behaviors into patterns that increase profitability. Specifically, pricing can be...
