Blog

Introduction

Online retailing continues to expand nationally and globally – as customers abandon historic high streets and shop from home or on the go. Two examples of online retailers challenging traditional purchasing behaviours include VictoriaPlum.com and ASOS. 

In Part One we looked at B2B Pricing Challenges. In this following on article, we're exploring Business-to-Consumer Pricing Challenges (B2C). Charging the correct price for your product or service can be a tricky business – getting it right (or indeed wrong) can have a dramatic effect on your sales and profits.

Everyone knows that they will have to pay for a product or service at some point, it's just a question of how much. Recently, however, it has become noticable that customers are proving to be tougher negotiators, both B2C and B2B. When it comes to selling, pricing is much more involved than just sticking some numbers on your goods and hoping for the best.

Introduction

Gaining a competitive advantage is key in the ever-changing business world of today. ‘How do we get more business?’ is the continuous question.

If your company is intent on preserving - and growing - profit margins, it becomes imperative to adapt and up your game plan. Pricing and profitability management needs to be a key element of that plan. Everywhere you look there seems to be a conspiracy to put pressure on your profit margins - more competitors than ever before, sophisticated procurement departments and slow economic growth have all been factors in contributing to this pressure cooker environment.