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Contingency-Based Pricing

Is “Skin in the Game” a Good Pricing Strategy? Contingency-based pricing refers to a price based on taking a share of the results provided. It’s usually set as a percentage of the value, especially when that value can be easily quantified. For example, personal injury lawyers often will work on contingency because the winnings in personal injury…

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When to Raise your Prices: 12 Powerful Indicators

Recently, a colleague and I were discussing various kinds of pricing structures, and this spurred a conversation about the kinds of situations in which a company may need to raise or adjust prices. In fact, a price change flows directly to the bottom line, and can have an enormous impact on a business’ profitability. So,…

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Tips to Market in an Economic Recession

Too often, when businesses are facing difficult times the first thing they do is cut from advertising and marketing spending. Studies have shown that in previous recessions the businesses that continue to invest, not only grow through recessions but capitalize on the eventual recovery….

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How to Raise Prices

If you are considering raising your prices, then the question quickly becomes, how? How do you raise your overall prices without losing customers, or making them upset or angry? Many businesses put off price increases for so long, they can never get them to a profitable level, damaging their ability to remain viable. Raising prices can…

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The Marketing Mix on Marijuana

What will the future of legalized cannabis in Canada look like? In light of complex regulation, many have been left dazed and confused where the marketing of marijuana is concerned….

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Pricing for Close Friends and Family

I wrote a blog recently about pricing, advising readers as to why they should not price too low. A reader asked me, “What about pricing for friends and family? Should you have some kind of a discount, or ‘mate rate’?” I’m going to assume, for the purposes of this blog, that the friend or family…

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