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There are many reasons to hire a pricing consultant or specialist price consultancy to support you on your pricing journey. These reasons may include assessing the suitability of your current pricing strategy through a pricing audit, identifying specific pricing changes for margin improvements, modelling the business impact of an alternative pricing approach, and much more.

Of course you want to get generally smarter at pricing, appealing to as many potential customers as possible.  The downside is that you are impatient and want to see speedy results to any pricing changes you make.  Do not despair.  The following pricing changes, as the words suggest, can be implemented quickly and easily – and you should see some positive results in next to no time.

Is inflation rearing its ugly head again as a result of last year's EU referendum? 

The sharp fall in the pound as a consequence of the referendum has been blamed for putting up the cost of imported ingredients and according to Reuters, prices in Britain's shops showed the smallest annual decline in over 3 years last month.

Price discrimination is a microeconomic pricing strategy where identical or largely similar goods/services are transacted at different prices by the same seller in different markets. Price discrimination essentially relies on the variation in the customers' willingness to pay and in the elasticity of their demand.

How much should you pay for an item – any item?  If you asked the majority of consumers they would say that a fair price would cover the cost of manufacture plus a little extra for profit. 

The value of the British Pound has slumped, down 15 % since the Brexit referendum.  As half of the food we eat is imported, this is bad news for shoppers.

Whether you are a well-established business or a startup, pricing will always be one of your biggest challenges.  This is especially true in lower-margin, highly competitive industries.

If you have been reading BlackCurve's previous blogs, you will understand just how vital it is to the success of your business to get your prices right.  Too high a price and your customers fade away, too low a price and your profits suffer.