Many small-business owners fear that an increase in prices will drive customers away. This idea made the headlines in 2016 when New Jersey implemented a substantial gas tax increase making prices jump 10% or more overnight. Gas station owners were concerned that people will go somewhere else for cheaper prices or to other transportation alternatives….
Have you ever bought something only to find out that the final prices is more, and sometimes a great deal more, than what you read or were told? How did it make you feel? That feeling is the same one your customer gets if you aren’t being transparent in your pricing. When I have discussed…
The words “price” and “right” might make you think about the game show “The Price is Right.” However as a business owner, you know, or soon will figure out, that pricing is not a game. The landscape of closed businesses are littered with businesses that failed to get their pricing strategy right. Some owners realized…
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