Pricing mistakes are among the most common ways managers sabotage their own businesses. Learn how pricing affects your bottom line and how to price your product/service to maximize company profitability.
Make Sure 'The Price is Right' On the "Price Is Right" TV game show, emcee Bob Barker asks players to guess the market prices of boats, jewelry, major appliances, and other consumer goods. The contestant who comes closest to the actual price -- without going over -- takes home the loot.
L'Oreal makes beauty products for women -- fine products, better than Revlon, much better than Maybelline, not as good as Elizabeth Arden or Clinique. At least that's what the prices say, as does the packaging.
"Going out on your own in consulting? One pundit says, Plan on subsidizing yourself 100% the first year, 70% the second, and 20% the third."
