UK Business Pricing

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Why You Should Consider Putting Prices on Your Website?

Why You Should Consider Putting Prices on Your Website There are many reasons that people give for or against putting their prices on their website. We put together the three most common ones and offer some alternative reasons why you should consider going against the flow and setting your prices on your website.   Reason 1: …

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Charge more! Why Price Increases Are Vital To Protecting Your Profits

Your business is scaling yet your take-home is diminishing. What might be the problem? Why price increases are vital to protecting your profits? Believe it or not, this is a common occurrence among growing businesses. Their sales traffic is up, revenues are up, and yet they are not seeing as much returns for the increased business …

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Value-Based Pricing vs. Cost-Based Pricing

The Wealth Lab is back again! People have different motivations for why they get into the business. While a business can exist because of a variety of reasons, they all have one thing in common: monetary compensation. Businesses need to make money. Otherwise, it will cease to exist and there comes value-based pricing. In its …

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Are You Turning People Away With Your Pricing?

There are two types of customers: Those who always go for quality, and those who consider the pricing. What you have to know, however, is that in the world of business, customers who go for quality are always the best types of customers. They are the ones that you would want to keep. They will …

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What is Good Value Pricing?

In the 1980s, Richard Thaler, the godfather of behavioural economics, came out with the Beer on the Beach Experiment and found that people on a beach were willing to pay more for a cold beer purchased from a five-star hotel than from a rundown grocery store. This goes against what traditional economics believe that, regardless of where …

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What are the Advantages and Disadvantages of Value-Based Pricing?

Value-based pricing is a strategy of assigning prices based on the customers’ perceived value of a product. Depending on its execution, your business can reap the benefits of this strategy. However, like every pricing strategy out there, it isn’t flawless. Let’s take a quick look at what value-based pricing is, and the pros and cons …

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What is Value-Based Pricing?

A lot of nitty-gritty goes into putting a product or service into the market. There are research and development, production, and marketing as well as value based pricing. But all those are just the tip of the iceberg. Behind those major milestones are innumerable tasks that require time and resources. Naturally, businesses would like to …

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