Price Skimming: What you need to know

Price skimming is a pricing strategy used by business which consists of establishing an initial high price for a product in order to lower that price over time and reach more portions of the market. This strategy is primarily used in the technology or video game sectors. To understand the mechanics of this strategy it

Price Escalation: How to overcome it

Price escalation is the increase in expenditure that occurs when a product is exported to a foreign market, because there are now export-related expenses such as tariffs, increased distribution costs, etc. If you want to expand your commerce to international markets you must take into account the cost escalation as well as adapt to the

How Price Points can help you maximize profits

Price points are the competitive value of the products resulting from the study of supply and demand behaviour. The price points then represent the amount of goods you would sell at price x. This can be displayed in a graph like the one shown below. In order to get competitive prices for your products, you

What Does MSRP Mean?

The meaning of MRSP is the manufacturer’s suggested retail price, in other words, the price that producers and brands recommend to merchants and stores. It is a price that takes into account the process and costs of production. The final selling price may change as it is influenced by other factors such as logistics or

What is competitor-based pricing?

As the name suggests, competitor-based pricing is a pricing strategy in which a company sets the price for its products after observing the competition. However, this strategy does not cover initial costs and only takes into account the selling price of the rivals’ products. To set the price of a product using competitor-based pricing you

How much does dynamic pricing software cost

There are no absolute terms to set Dynamic Pricing cost, as it will change according to the needs and characteristics of your business, such as the number of markets you want to control, the size of your company or the number of products to be analyzed. The willingness to pay will vary according to the

How much does price intelligence software cost

The cost of price intelligence has a value that is undoubtedly affordable for any company or business that wants to succeed in the sector. This, however, can vary, always according to the needs of your business (if it has more than one sales channel, operates in different countries, etc.) or the size of your business.

Set the best price for my products: Pricing

One of the most important issues when designing an effective marketing plan is pricing. This idea was defined by the American economist Kent Monroe as “the art and science of understanding how much a customer would be willing to pay for a product or service, trying to get the most out of it”. In order

Master the online market of the pet sector

Throughout the millennia, humanity has enjoyed the company of animals. From the domestication of wolves to ensure survival to the use of animals for therapy, the value of animals to human life is evident. Thanks to the increase in purchasing power and quality of life, a pet sector has developed, which is responsible for providing

How to sell more in the music sector: instruments, audio, accessories,..

Music is an element that has accompanied us for millennia and has been progressing in parallel with humanity: from Ancient Greece to the concert and music festivals, it is clear that it is a necessary part of human life. Over the centuries, an industry has also developed to satisfy the demand of musical consumption, both