A May 9, 2012 Bloomberg Businessweek article, Macy’s 1Q profit jumps 38 percent, attributes the company’s success to its ability to tailor its fashions to local markets.  This kind of insight often elicits a “duh” response, yet I can’t help but wonder how many of you are actually employing this strategy?  If you did, what difference would it make for your business? Read the rest of this entry »

A May 7, 2012 article in the Bankgok Post, The price of ignorance can be high, highlights the folly of government interference in pricing.  Why are government’s so bad at establishing prices?  More importantly, what can we learn from their mistakes? Read the rest of this entry »

Who’s controlling your business’s destiny?  Here are some simple questions to assess how much control you have over your business. Read the rest of this entry »

As business owners, we instinctively know that trust is essential to our success.  The day we lose our customers trust is the day we lose their business.  Game over!  End of story.  So how do you go about creating this trust and where does your pricing fit into that trust-building strategy? Read the rest of this entry »

Ruti Levy, in her Haaretz.com article Building blocks of high prices, cited the fact that Israelis are paying 3 to 3.5 times what they would online for Legos.  Even when you factor in shipping and taxes, these buyers are paying more than 60% higher prices for the same Lego sets they could get online.  The question on everyone’s mind is “Why?” Read the rest of this entry »