How can you create a cost management plan that will take into account the dynamic day-to-day challenges of running a webstore? A strategic cost management plan can help you know when to use which delivery service. Taking the time to crunch the numbers might cause a small headache…
Market penetration pricing is one of the most easily recognizable strategies in business. When you see some company offering a “Special introductory offer,” they are probably engaging in penetration pricing. This strategy involves setting a super low price for a good or service in hopes that you will…
According to the Small Business Administration, 52 percent of small businesses are home-based. Anyone who has ever had a work-from-home situation is probably familiar with the jealous looks that acquaintances give when they hear that you work from home. They’ll say things like, “Oh that sounds like a…
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…