Pricing Articles

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    How to Beat Your Lower-Priced Competitors

    by on July 15, 2014

    When rival companies step on your toes by offering the same product for a lower price, the easiest solution is to match their number or go even lower. But that’s also the worst solution. You may look at a company like Walmart and think, “If they can do it,…

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    What Is a Cost Benefit Analysis?

    by on July 15, 2014

    In the course of starting and running a company, you will make thousands of decisions that will affect your business. During the decision-making process, taking the time to perform a cost benefit analysis can help determine what the best course of action is fo…

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    5 Signs You Need to Adjust Your Prices

    by on July 15, 2014

    Making changes to your product’s pricing is almost always a difficult decision. Whether it’s an increase or a decrease, changes in cost can have a jarring effect on both you and your consumers. That’s why it is incredibly important to change your prici…

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    Activity-Based vs. Traditional Costing

    by on June 25, 2014

    Costing is used in business accounting strategies as a way of determining the cost of manufacturing a product in relation to the revenue generated by that product. Costing systems determine the overhead of production and then allocate those overhead costs to a…

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    Analyzing Supply and Demand

    by on June 25, 2014

    Having a sophisticated understanding of the supply and demand of your goods and services is a crucial element in running a successful business.
    Supply accounts for the quantity of goods or services your business supplies. Demand accounts for the amount of …

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    10 Tips for Pricing Your Product

    by on June 25, 2014

    Countless small business success stories—not to mention the illustrious career of Bob Barker—demonstrate the importance of getting the price right. Beyond the logos, user interfaces and organization charts, your business values the bottom line, and your c…

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    Should Your Small Business Accept Bitcoin?

    by on April 29, 2014

    Bitcoin has made quite a few headlines lately. This is thanks, at least in part, to the somewhat spectacular failure of Japan-based MtGox, one of the world’s largest exchanges. Hundreds of millions of dollars’ worth of the virtual currency disappeared in a…

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    5 Factors to Consider When Setting Prices

    by on January 30, 2014

    The legendary psychologist Sigmund Freud is thought to have said, “Sometimes a cigar is just a cigar.” That may be, but price is never just about price. The psychology of pricing involves much more, including perceived value and marketplace competition.

    W…

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