Landed cost is the total cost of a product from inception to creation through delivery of that product to its final destination – most likely your customer’s hands or front door step. Reducing your landed costs will result in higher profits – via smaller expenses – as long as…
Apple has executed the skimming pricing strategy with great results. Each time the company – and most other tech firms – introduce a new product, they will charge the highest price that they know customers will pay. As those early adopters are satisfied, the price is lowered, following…
Shady accounting practices are what landed Enron and WorldCom in hot water with the SEC, and although you may be the owner of a small online business or brand new ecommerce company, and not publicly traded, it is probably in your best interest to adhere to the generally…
Price optimization is one of the most important factors in revenue management and price management. This term refers to the maximum price your company can charge for a product or service and achieve maximum sales. For example, if your company specializes in selling widgets and you’re charging $11.99…
Walter Frick of BostInno, a Boston tech blogozine, recently completed a feasibility study report on completing an MBA while launching a startup. Not surprisingly his feasibility study overwhelming found one thing: it is not an easy task. By a long shot. In the study, Frick interviewed a few…
Next time you want a lesson in improving operational efficiency and effective leadership, you might want to consider turning on ESPN. Between stories of players being suspended for night club brawls and on-court scuffles, you might hear a mention or two of the San Antonio Spurs and how…
MSN Money teams with Zogby, an international polling firm, each year to create its MSN Money Customer Service Hall of Fame. The list takes into account a poll in which Zogby asked customers whether a company’s customer service was bad, fair, good, or excellent. The 2011 Hall of…
In business we often hear comforting little idioms meant to inspire confidence. Little phrase like “dream big” or “aim high” inspire confidence in business owners who feel their fledgling company is ready to take on the big bad corporate world. But I call foul on these sayings. There…
The secret of good inventory control is matching supply with demand. Ideally, you would want to sell out of your last item as soon as demand for that item has dried up. That’s why the story of Holeman & Finch Public House in the Buckhead neighborhood of Atlanta…