Pricing: It Is NOT About The Numbers
Pricing is one of the core 4Ps of marketing. It’s integral to achieving your business objectives. For most businesses, this translates to profits, aka ROI.
Scared of dealing with numbers, marketers, business executives and solopreneurs guess at the “perfect” price rather than ensuring their prices are aligned with the rest of their marketing. The problem is that social media and mobile have changed pricing and increased price transparency. Source: Heidi Cohen’s Actionable Marketing Blog
Godfather Marketing: Make Them an Offer They Can’t Refuse
When the Godfather spoke, everyone listened. Is the same true of your marketing? Everyone took Don Vito Corleone, played by Marlon Brando seriously, when he said to his godson, Johnny Fontane in The Godfather, “I’ll make him an offer he can’t refuse.” For the Godfather, that meant do as I say or I’ll kill you. While marketers don’t need to go to that extreme, they must develop effective offers related to marketing’s traditional 4Ps. Here are fifty offer-related questions to help construct your offer. (Note: Include this as part of your mid-year marketing checkup.)
Are You Giving Away Your Product Too Cheaply?
Are you pricing your product to maximize your revenue and profit opportunities? Often, marketers underestimate the strategic importance of pricing and it’s impact on their revenue potential and bottom line. Therefore, assess your offering’s tangible and intangible benefits in fulfilling the consumer’s specific needs. To help you better price your offering, here are seven steps to assess your offering’s true value and price it accordingly.
Are You Selling 8-Tracks in an iTunes World?
CES, The consumer electronics show, once again shows how much Americans love their digital devices and continue to spend lots of time on them consuming content (data included). As a marketer, are you offering 8-tracks in an iTunes world? Here are 5 questions to help you assess your product offering and marketing plans as they relate to tomorrow’s hot electronic gadgets.
How Social Media Has Changed Marketing’s 4Ps
When the Mad Men roamed boardrooms of major brands, marketing focused on the 4Ps: Product, Price, Place and Promotion. To stand out, Trout and Ries introduced the notion of positioning which they called the battle for your mind. Fast forward to 2010 where digital marketers still incorporate the 4Ps into their plans, social media has altered the nature of the 4Ps. Here’s how…
What Marketers Can Learn From LeBron James: It’s the Total Offer
NBA free agent, LeBron James, generated a unprecedented amount of fan and media attention regarding from his announcement of his future team. What fan reaction overlooks and marketers can learn from is the fact that, for LeBron James, like your customers, it’s the total offer that matters. Here are 25 questions to ask about your offer. Please read on …