Cost-Plus Pricing, also known as markup pricing, is a pricing strategy where a company determines the selling price of a product or service by adding a fixed percentage (the markup) to total costs. This strategy is straightforward and ensures the company covers its...
One of the most influential business books of all time is The Marketing Imagination, by Theodore Levitt. The book includes his award-winning essay “Marketing Myopia”, originally published in 1960 in the Harvard Business Review. Marketing Myopia is a term coined by...
If you’ve visited a major city during a rainstorm, you might have noticed the prices for umbrellas sold by street vendors tend to rise when the rain falls. What started out with a $10.00 price tag may rise considerably during a rainstorm. This is an example of...
Short of losing your entire market share due to a sudden disruptive innovation or a major regulatory change that completely invalidates your business model, there is little that can have a more negative impact on your business than commoditization. Business...
In today’s dynamic marketplace ‘sustainable competitive advantage’ is often considered a myth largely because, in this rapidly changing business landscape, it’s nearly impossible to maintain a single, long-term advantage due to factors like technological disruption,...
