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Pricing Strategy An Introduction
 
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An introduction to the subject of Pricing Strategy and an overview of some of the tools and theories available in connection with the determining of price of a product or a service. This video is aimed at marketing management students.
Views: 106626 Tine Wade
How to Sell Value vs. Price
 
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People don't buy products, they buy the result that the product will give them. In today's video, I'll teach you what I've taught to more than 2 million salespeople in over 75 countries: how to sell the VALUE and BENEFIT of your product, rather than the price. Learn how to close more deals by applying the right closing technique with my FREE 23 Closing Techniques Battle card, download it here: http://bit.ly/1TWrOxE "The more you focus on the value of your product or service, the less important price becomes." @BrianTracy (Tweet this: http://bit.ly/1TGEqt6) ___________________ Learn more: Subscribe to my channel for free offers, tips and more! YouTube: http://ow.ly/ScHSb Facebook: http://www.facebook.com/BrianTracyPage Twitter: http://www.twitter.com/BrianTracy Google+: +BrianTracyOfficialPage Pinterest: http://www.pinterest.com/BrianTracy Instagram: @TheBrianTracy Blog: http://ow.ly/TXzAT
Views: 126516 Brian Tracy
Pricing Analytics: Optimizing Price
 
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The “best” price for a product or service is one that maximizes profits, not necessarily the price that sells the most units. This presentation uses real-world examples to explore how Excel’s Solver functionality can be used to calculate the optimal price for any product or service. Downloadable slides are available from SlideShare at http://goo.gl/yGmGfq
Views: 46968 Michael Lamont
Don't Make This Pricing Mistake: How to Price Your Products & Services
 
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This is the dumb pricing mistake entrepreneurs make. Now I'll show you how to fix it. SUBSCRIBE FOR MORE ► http://bit.ly/WqPFyy There's a dumb pricing mistake people make when they price their products and services... ...and it leaves a TREMENDOUS amount of money on the table. (The weird part? This applies to all types of products. Maybe you're selling a piece of furniture... or you'er selling multiple crafts at a craft show... or maybe you're a freelance photographer or web designer...) What is the mistake? Watch this video and I'll explain everything. The best part? Once you know the mistake, it's easy to fix it. Don't take my word on it. Watch the video. See for yourself. This takes advantage of proven psychological pricing strategies. It works for physical products - like crafts, handmade furniture - and for freelance services - like photography, web design, consulting. Oh, and if you liked this video, HIT SUBSCRIBE! http://bit.ly/WqPFyy
Views: 166578 Derek Halpern
Pricing Strategies
 
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Pricing Strategies
Views: 151068 Thompson VSE
Business Training Video on Price and Product Strategy (Hindi) by DR. Vivek Bindra
 
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In this Video Dr. Vivek Bindra explains in very simple terms, the 4 quadrants of Business practice. This video beautifully explains the following quadrants for start ups, small entrepreneurs, small business etc as follows 1. Value for Money | 2. Opportunistic | 3. Premium | 4. Chinese Market. Through these quadrants Dr. Bindra asks young entrepreneurs to identify their business propositions and determining on which proposition would they like to position their business. This is a very enabling video that seeks to empower the business class society of India today and handhold them to success. If you want to avail the full benefits of this business concept, then do not forget to attend the 6 months long term Leadership Funnel Program To Attend a 4 hour Power Packed “Extreme Motivation & Peak Performance” Seminar of BOUNCE BACK SERIES, Call at +919310144443 or Visit https://bouncebackseries.com/ To attend upcoming LEADERSHIP FUNNEL PROGRAM, Call at +919810544443 or Visit https://vivekbindra.com/upcoming-programs/leadership-funnel-by-vivek-bindra.php Watch the Leadership funnel Program Testimonial Video, here at https://youtu.be/xNUysc5b0uI Follow our Official Facebook Page at https://facebook.com/DailyMotivationByVivekBindra/ and get updates of recent happenings, events, seminars, blog articles and daily motivation.
Module6-Pricing Product (FULL)
 
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Module 6- Pricing Products This section is on pricing products for retailers, for service businesses, or for manufacturers. Those are the three main business categories that businesses encounter, but what we're going to deal with today will be the manufacturing side. It seems to be the most complicated part, and the lessons lender in this section will certainly be applicable to a service business or a retail business. Starting a business has its own challenges when calculating your minimum selling price. Arguably, the manufacturing has more variables when calculating selling price. So that what we're going to look at here, a manufacture company needs to deal with the following key areas in order to develop the pricing strategy. First of all, they need to deal with raw materials. They're going to have to deal with labour costs, overhead costs, and profit. "Profit's" also referred to as "return on investment." With all these areas are pretty self explanatory. There should be some cautions that are needed to be dealt with in each category, though. Raw materials, be sure to include all costs, such as freight, insurance, those things that expenses that to get your product to your manufacturing facility. Don't forget to count the non useful waste; for example, the things that you've cut off and throw away. You've paid for it, but it's still a cost to you even though it doesn't go into the finished product. Under "labour," one of the key areas that entrepreneurs tend to forget are such things as WCB costs, employer's EI and CPP costs, Employment Insurance and Canada Pension Plan, vacation pay, the cost of statutory holidays, and any other benefits that you provide to your employees. These combined, can easily total 15 to 20 per cent of your labour costs, and they need to be added into your production costs. For yourself, make sure you count all of your time. Include the evening phone calls, the time you spent setting up your facility so your employees can work efficiently, the time you spend marketing. And if you're going to work for 10 hours a day, you should at least be compensated for that. You'd pay an employee, so why not pay yourself? How do you decide how much to pay yourself? Well, ideally, start with a personal budget. Figure out all of your personal expenses as what you need out of this business, and then go and add 20 to 25 per cent on top of that to cover the monthly costs that unexpected surprises. Allow for the usual rent, utilities, auto expense, medical and such, but don't forget important things like birthday and Christmas gifts, and those annual insurance bills that tend to sneak up on you. You have more risk than anyone else in this business, so you should be paid more than even your more most skilled employee. Take a rate that your employees would earn and add 25 to 30 per cent for yourself. If you don't require it, you can always reinvest the surplus. If you don't plan for it, though, this could be one of the major reasons that your business will get in trouble... Find the rest of the transcripts at http://www.businessabilities.ca/?q=videos
Marketing Mix: Pricing Strategies
 
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Review the basics of the price component of the marketing mix. This critical element of your marketing strategy can make or break your competitive position. Provided by Rasmussen College School of Business.Download the PowerPoint presentation at http://www.sophia.org/marketing-mix-pricing-basics-tutorial
Views: 224489 Soma Datta
Pricing your woodworking projects. Shaker Tables Pricing Example
 
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On episode 11 of The Against the Grain Podcast hosted by Guy Dunlap, Justin Dipalma, and Freddy Roman we discuss how each of us price furniture. But if our opinions weren't enough you also get to hear and now see Shawn Van Dyke the amazing business coach share his expertise with us on pricing a pair of shaker night stands. Please note Shawn kindly produced this video for us on The ATG Podcast and he owns all the rights to this video. I am simply sharing it for the podcast and for my personal blog. Links: Shawn Van Dyke Instagram: https://www.instagram.com/shawnvandyke/ Shawn's Web Site: http://shawnvandyke.com/now/ The ATG Podcast Episode: https://www.theatgpodcast.com/introduction-of-our-podcast/2017/11/30/episode-11-pricing
Views: 19956 Freddy Roman
How To Set More Profitable Prices - How To Sell High-Ticket Products & Services Ep. 10
 
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People pay for value not hours. Watch the whole powerful series here: https://www.youtube.com/playlist?list=PLEmTTOfet46PlgDZSSo-gxM8ahZ9RtNQE Remember: The bigger pain you solve, the more you can charge. ★☆★BONUS FOR A LIMITED TIME★☆★ You can download Dan Lok's best-selling book F.U. Money for FREE: http://setmoreprofitableprices.danlok.link ★☆★ SUBSCRIBE TO DAN'S YOUTUBE CHANNEL NOW ★☆★ https://www.youtube.com/user/vanentrepreneurgroup?sub_confirmation=1 Dan Lok, a.k.a. The King of High-Ticket Sales, is one of the highest-paid and most respected consultants in the luxury and “high-ticket” space. Dan is the creator of High-Ticket Millions Methodology™, the world's most advanced system for getting high-end clients and commanding high fees with no resistance. Dan is one of the rare keynote speakers and business consultants that actually owns a portfolio of highly profitable business ventures. Not only he is a two-times Tedx opening speaker, he's also an international best-selling author of over 12 books and the host of Shoulders of Titans show. Dan's availability is extremely limited. As such, he's very selective and he is not cheap. But if you think you or your brand might benefit from one-on-one interaction with Dan, visit http://danlok.com ★☆★ WANT TO OWN DAN'S BOOKS? ★☆★ http://www.amazon.com/Dan-Lok/e/B002BLXW1K ★☆★ NEED SOLID ADVICE? ★☆★ Request a call with Dan: https://clarity.fm/danlok ★☆★ CONNECT WITH DAN ON SOCIAL MEDIA ★☆★ Blog: http://www.danlok.com/blog/ Podcast: http://www.shouldersoftitans.com/ Facebook: https://www.facebook.com/danlokfan/ Twitter: https://twitter.com/danthemanlok Instagram: https://www.instagram.com/danlok/ YouTube: https://www.youtube.com/user/vanentrepreneurgroup Linkedin: https://www.linkedin.com/in/danlok Meetup: http://www.meetup.com/Vancouver-Entrepreneurs-Group-Business-Network/ Amazon: http://www.amazon.com/Dan-Lok/e/B002BLXW1K Keywords: big ticket sales, high ticket sales, high ticket selling, charge more money, increase prices, dan lok, preimum prices, luxury marketing expert, luxury selling, luxury sales, mastermind group, high level mastermind, high end clients, high end marketing, affluent clients, selling to affluent, affluent chinese, marketing to affluent, consultant, coach, consulting, coaching, speaking, speaker, lead generation, generate leads, professional services, coaching group, done for you service, high ticket sales funnel, closing sales, event marketing This video is about: How To Set More Profitable Prices - How To Sell High-Ticket Products & Services Ep. 10 https://youtu.be/1W8gwqgSF8k https://youtu.be/1W8gwqgSF8k
Views: 35793 Dan Lok
How to Sell Value Not Your Pricing
 
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#sellingvalue #selling #pricing
Views: 149772 Victor Antonio
Food Costs Formula: How to Calculate Restaurant Food Cost Percentage
 
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What is the food cost formula and how can you use it to calculate your restaurants food cost percentage. I will explain everything you need to know about food costing in this video. As a restaurant owner, manager, operator or chef, you have to know how to calculate your food cost so you can lower expenses and increase your profits. If you enjoyed this video and want more just like them including a free training series called the foundation to a lifetime of restaurant success. Click Here: http://TheRestaurantBoss.com To subscribe to my you tube channel, Click here: http://www.youtube.com/subscription_center?add_user=gromfinboss
Views: 505471 The Restaurant Boss
How to price your product. Answering: how to price my product?
 
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How to price your product and some pricing theory discussion! Take my full course on how to start a business for more discussion on how to price a product: https://www.udemy.com/how-to-start-a-business-go-from-business-idea-to-a-business/?couponCode=y For more tutorials like this tutorial with pricing theory and strategies on how to price a product, please visit http://www.problemio.com In this video I discuss some pricing theory, and explain how to price your product. Many people on my apps approach me and ask me: how do I price my product? Of course, it is difficult to answer because every business is so different. But in this video I give a pretty good overview of the theory of how to price a product in various cases and competition. If you have no competition, then you can price your product by simply experimenting with what the highest price you can charge while maintaining enough sales. But that is rarely the case. The more common case is if you are in a very competitive environment. In this case, you price your product by giving away something very cheap or free. That way you take advantage of a part of the freemium model and take people away from your customers and bring them into your business. And then you hope to convert some of those people into buyers of your more expensive products. Another interesting approach for how you should price your product is the name your own price model. In most situations it doesn't work. But there are some cases where it doesn't cost you money to have another client. So instead of turning them down because they found the price to be steep, you just let them name their own price. For example that is how you can price your product for event attendance or website membership. If you are still wonderiing "how can I price my product?" here is an article on how to price a product from http://www.sba.gov http://www.sba.gov/community/blogs/how-price-your-small-business%E2%80%99-products-and-services And here is an article on how you can price your product http://www.inc.com/guides/price-your-products.html And here is an article on how you can price your product http://www.entrepreneur.com/article/220746 Please check out my business books. Here is my book on starting a business with further discussion on how to price your product: http://www.amazon.com/Get-Business-Ideas-Start-ebook/dp/B00HZUVAUM Book with fundraising strategies to raise money: http://www.amazon.com/10-Fundraising-Ideas-Strategies-strategies-ebook/dp/B00KADT0Q2/ Facebook marketing book: http://www.amazon.com/Facebook-Marketing-Business-Expect-Promoting-ebook/dp/B00LMGPDIK Marketing strategies book: http://www.amazon.com/Marketing-Strategies-People-Problemio-business-ebook/dp/B00IG83T7E/ Mobile app marketing book: http://www.amazon.com/Mobile-App-Marketing-thousands-downloads-ebook/dp/B00LTGV1NO/ Freemium business model https://www.youtube.com/watch?v=8IqWwNLHIsU Business plan course https://www.youtube.com/watch?v=i19XAhb0-BM What is a business plan https://www.youtube.com/watch?v=T63QsuNIwZA What is a business model: https://www.youtube.com/watch?v=dsUz6lfXCkE How to make money with ads: https://www.youtube.com/watch?v=eAw7JowBjc8 Hiring tips and strategies: https://www.youtube.com/watch?v=LEPLs1dOBZg How to identify your target market: https://www.youtube.com/watch?v=loHvzCFnAvg What is KPI and how to use it in your business: https://www.youtube.com/watch?v=fx1x33DKmGc Do you need a business plan? https://www.youtube.com/watch?v=0kYxzkx6JJI How to price your product? https://www.youtube.com/watch?v=qN5No7ON5o0 The lean startup methodology by Eric Ries: https://www.youtube.com/watch?v=HYXTXHteY8Q Steve Blank's customer development theory: https://www.youtube.com/watch?v=_lkRDM8yXxU
Top 5 mistakes to avoid when pricing your handmade products
 
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Pricing is the centerpiece of your handmade business. The reason is simple: to be successful and make a living off your online shop, you need to be profitable. And to be profitable, well… You have to price for profit. Truth is, it can feel very uncomfortable, and if you’re like me and numbers aren’t your favorite thing to play with… well it just sounds like the least possible fun thing to do! The temptation is real to get it over and done with as quickly as possible, but you also risk falling into one the most common pitfalls of costing and pricing your products. If you know deep in your heart that you haven’t spent much time on your pricing strategy, you might want to keep reading and make sure you’re not making one of these 5 costly mistakes. FREE CALCULATOR: https://www.tizzit.co/resource-library/
Views: 8325 Deborah Engelmajer
Steve Jobs' amazing marketing strategy - MUST WATCH
 
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Check out these books about Steve Jobs: * Steve Jobs: https://amzn.to/2PGH3nM * The Presentation Secrets of Steve Jobs: https://amzn.to/2JB1j55 * Becoming Steve Jobs: https://amzn.to/2QgZKf8 * Steve Jobs: The Man Who Thought Differently: https://amzn.to/2AHIqdQ * Steve Jobs (Movie): https://amzn.to/2CZgLq3 Steve Jobs shares his amazingly different approach to marketing and how he used it to build Apple into one of the largest companies in the world. * Join my BELIEVE newsletter: http://www.evancarmichael.com/newsletter/ Transcript: To me….marketing is about values. This is a very complicated world. It’s a very noisy world. And we’re not going to get a chance to get people to remember much about us. No company is! And so, we have to be really clear on what we want them to know about us. Now Apple, fortunately, is one of half-a-dozen best brands in the whole world. Right up there with Nike, Disney, Coke, Sony — it is one of the greats of the greats. Not just in this country, but all around the globe. But even a great brand needs investment and caring if it’s going to retain its relevance and vitality. And the Apple brand has clearly suffered from neglect in this area in the last few years. And we need to bring it back! The way to do that is NOT to talk about speeds and fees. It’s NOT to talk about bits and mega-hertz. It’s NOT to talk about why we are better than Windows. The dairy industry tried for 20 years to convince you that milk was good for you. It’s a lie, but they tried anyway. And the sales were falling. And then they tried “Got milk” and the sales went up. “Got milk” wasn’t even talking about the product. In fact, it focuses on the absence of the product. But the best example of all, and one of the greatest jobs of marketing that the universe has ever seen, is Nike. Remember, Nike sells a commodity. They sell shoes!!! And yet, when you think of Nike you feel something different than a shoe company. In their ads, as you know, they don’t ever talk about the product. They don’t ever tell you about their air soles and why they are better than Reebok’s air soles. What does Nike do in their advertising? They honor great athletes. And they honor great athletics. That’s who they are, that’s what they are about! Apple spends a fortune on advertising — you’d never know it….you’d never know it! So…when I got here, Apple just fired their agency and there was a competition with 23 agencies that…you know…four years from now we would pick one. And we blew that up and we hired Chiat\Day, the ad agency that I was fortunate enough to work with years ago and created some award winning work including the commercial voted the best ad ever made, 1984 (by Advertising Professionals). And…we started working about eight weeks ago, and the question we asked was, “Our customers want to know who is Apple and what is it that we stand for…where do we fit in this world?” And what we’re about isn’t making boxes for people to get their jobs done — although we do that well. We do that better than almost anybody, in some cases. But Apple is about something more than that! Apple at the core…its core value — is that, we believe that people with passion can change the world for the better. That’s what we believe! And we have had the opportunity to work with people like that. We’ve had the opportunity to work with people like you; with software developers, with customers, who have done it. In some big, and some small ways. And we believe that, in this world, people can change it for the better. And that those people who are crazy enough to think that they can change the world are the ones that actually do! And so, what we’re going to do in our first brand marketing campaign in several years, is to get back to that core value! A lot of things have changed. The market is in a total different place than where it was a decade ago. And Apple is totally different — and Apple’s place in it is totally different. And believe me, the products, and the distribution strategy, and the manufacturing are totally different…and we understand that. But values and core values — those things shouldn’t change. The things that Apple believed in at its core, are the same things Apple really stands for today. ENGAGE * Subscribe to my channel: http://www.youtube.com/subscription_center?add_user=Modelingthemasters * Leave a comment, thumbs up the video (please!) * Suppport me: http://www.evancarmichael.com/support/ CONNECT * Twitter: https://twitter.com/evancarmichael * Facebook: https://www.facebook.com/EvanCarmichaelcom * Google+: https://plus.google.com/108469771690394737405/posts * Website: http://www.evancarmichael.com EVAN * About: http://www.evancarmichael.com/about/ * Products: http://www.evancarmichael.com/zhuge/ * Coaching: http://www.evancarmichael.com/movement/ * Speaking: http://www.evancarmichael.com/speaking/
Views: 1385292 Evan Carmichael
Profit Markup vs. Margin - Simple Formula, Common Mistake
 
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85% of contractors incorrectly calculate profit on their estimates. Most contractors use the markup method - but this method will leave your bottom line coming up short every time! In this brief video, we explain the difference between a markup and a margin, and how to use a profit margin formula on your estimates that will give you an accurate profit every time.
Views: 300327 LMNVideo
Why Do So Many Price Tags End In .99?
 
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It’s very common to see the number 9 at the right end of a price tag. Why is this? Lauren explains the psychology of prices and nines in this episode of BrainStuff. Learn more at HowStuffWorks.com. Share on Facebook: Share on Twitter: Subscribe: http://goo.gl/ZYI7Gt Visit our site: http://www.brainstuffshow.com Hi there! I’m Lauren, and this is BrainStuff. The other day I was shopping at Bavmorda’s Trebuchet and Millinery Emporium and I started wondering -- why do so many prices end in the number 9? You might have wondered the same thing too, and if you have, it’s not just your imagination. Studies have shown that many retailers disproportionately use prices within 5 cents of the nearest dollar, 1 cent of the nearest 10 cents, $5 of the nearest $100 or $1000, and within $1 of the nearest 10-dollar amount. Prices like this are often known as “charm” prices, “odd” prices, “magic” prices, or “psychological pricing.” Pricetags ending in the number 9 are especially common. But why? These days, two main psychological theories of charm pricing have emerged. And yes, this is a field of study. For the purpose of this video, we’ll call them the “rounding off” theory and the “bargain signaling” theory. The rounding off theory argues that shoppers tend to pay a lot more attention to the first digits in a listed price. So, when you see a product labels $29.99, even though it's only 1 penny off from being 30 bucks, the theory goes that you mentally round down to think of it as a $20 price point based on that first digit. For example, a 2005 study found that prices ending in 99 cents caused shoppers to make math errors that even-dollar prices did not. It worked like this: Test shoppers were given an allowance of exactly 73 bucks, and they were then asked to estimate how many products they could buy with this allowance. It turned out that when 99-cent endings were in the picture, shoppers overestimated their spending power. In other words, they thought they could buy significantly more products at prices like $2.99 and $5.99 than they could at $3 and $6. This seems to suggest that we do tend to “round down” and ignore the final digits in prices, even though it makes no economic sense to do so. The bargain signaling theory suggests that odd prices work the same way “Sale” signs do, meaning they imply to shoppers that the price listed is especially good. Maybe the weird specificity of something priced $5.98 or $2.39 makes us think that the store is selling that bag of Gummy Bears at the lowest price point they can possibly afford. Or maybe we’ve all been conditioned by marketing to associate odd prices, especially the ones ending in 9, with sales and discounts. In 2003, researchers showed that in some cases, you could actually increase demand for an item by raising the price so that it ended in a ‘9,’ which would seem to contradict rational economics. One example they studied: A $34 dress in a clothing catalog. By raising the price from 34 bucks to 39 bucks, demand for the dress actually went up. When they raised the price to $44, however, the trend didn’t hold -- so it wasn’t just that buyers liked paying more for their clothes. Since 34 and 39 both start with the same digit, this would seem to favor the bargain signaling theory rather than the rounding off theory. Something about the 9 just seemed to make people think they were getting a good deal. So it looks like our penchant for buying at the 9s might be explained by a mixture of our tendency to round down to the leftmost digit AND our beliefs that 9s inherently indicate bargains. SOURCES: http://www.jstor.org/stable/10.1086/678484?seq=1#page_scan_tab_contents http://www.theatlantic.com/business/archive/2015/01/the-psychological-difference-between-1200-and-1167/384993/ http://timharford.com/2012/06/pound-for-pound-99p-is-worth-every-penny/ http://www.nytimes.com/2009/02/08/weekinreview/08arango.html?_r=0 http://dept.camden.rutgers.edu/business/files/Schindler-2006.pdf http://dept.camden.rutgers.edu/business/files/Bizer-Schindler-2005.pdf http://onlinelibrary.wiley.com/doi/10.1002/mar.20084/abstract https://hbr.org/2003/09/mind-your-pricing-cues http://classes.bus.oregonstate.edu/fall-05/ba499/elton/Articles/Mind%20Your%20Pricing%20Cues.pdf http://link.springer.com/article/10.1023%2FA%3A1023581927405 http://www.ozshy.50webs.com/21why99.pdf https://www_nelsonpricing_com_ar.1.com.ar/biblioteca_pricing/1997-02_why_are_so_many_goods_priced_to_end_in_nine_Basu_K.pdf http://marketing-bulletin.massey.ac.nz/V8/MB_V8_N1_Holdershaw.pdf
About Da Business: Understanding the Basic Cost Formula for Pricing Your Goods
 
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A more detailed explaination of : Cost x 4 = Selling Price
Views: 966 dabarefootbombshell
Cost of Goods Sold (COGS)
 
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Learn about cost of goods sold. More free accounting tutorials and lessons at http://accounting-education.com.
Views: 216177 AccountingAcademy
Pricing information Goods - Music Industry as Example
 
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Group 46: Leon Graveland Puck van de Ven Lotte van Lier Anne Merel Tolsma Subject: Pricing information Goods in Information Systems. Course: Information Strategy Study: MSc Business Information Management University: Rotterdam School of Management, Erasmus University. References: Shapiro, C., and Varian, H. 1998. Pricing Information. In Information Rules: A StrategicGuide to the Network Economy. Cambridge, MA: Harvard Business School Press. Goh, K.H., and Bockstedt, J.C. 2012. The Framing Effects of Multipart Pricing on Consumer Purchasing Behavior of Customized Information Good Bundles. Information Systems Research 24(2) 334-351. http://www.music-asia.com/2015/07/pwc-forecasts-music-industry-through-2019/ http://www.mediajournal.org/index.php/jmm/article/viewFile/289/184 https://www.spotifyartists.com/spotify-explained/#how-is-spotify-contributing-to-the-music-business
Views: 367 Anne Merel Tolsma
Introduction to Price Discrimination
 
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Price discrimination is common: movie theaters charge seniors less money than they charge young adults. Computer software companies sell to businesses and students at different rates, often offering discounts to students. These price differences reflect variations in the elasticity of demand for these different groups. When demand curves are different, it is more profitable to set different prices in different markets. We’ll also cover arbitrage and take a look at some examples of price discrimination in the airline industry Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1oBdjav Next video: http://bit.ly/1R1JmqZ Help us caption & translate this video! http://amara.org/v/GZR8/
ACCA F5 Transfer Pricing Example 1
 
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ACCA F5 Transfer Pricing Free lectures for the ACCA F5 Performance Management Exams
Views: 34266 OpenTuition
Product - Development Stages
 
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This video explores the 8 stages of product development. As well, it helps identify what we mean by 'product' and where the development process fits into the Marketing Mix.
Views: 200412 Jason Richea
Making Special Order and Pricing Decisions Example
 
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Please like our Facebook page at https://www.facebook.com/rutgersweb To watch the entire video, please go to https://www.youtube.com/watch?v=-vEU6symt1I Description: In this lecture, short term business decisions are introduced and the methods used to make the aforementioned decisions (such as the "relevant information approach" and the "contribution margin approach"). Pricing considerations are also discussed as well as the terminology involved (price-setters vs. price-takers, target pricing, and cost-plus pricing). Lastly, decisions involving whether or not to drop a product are discussed, as well as the alternative to outright dropping a product - adopting a different product mix. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subscribe.html
Absorption Costing
 
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This video explains the concept of Absorption Costing in Managerial Accounting. A comprehensive example is provided to explain how absorption costing is used to calculate per unit product costs as well as to create an absorption costing income statement. The video also contrasts the absorption costing method with the variable cost method and discusses how the use of absorption costing can lead to distorted measures of profitability and perverse managerial incentives. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like us on Facebook, visit https://www.facebook.com/Edspira Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Facebook, visit https://facebook.com/Prof.Michael.McLaughlin To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin
Views: 210127 Edspira
Revenue, Profits, and Price: Crash Course Economics #24
 
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How do companies make money? What are profits? Revenues? How are prices set? This week, Jacob and Adriene are talking business. Whether you're selling cars, pizza, or glow sticks, this video has pretty much all the information you need to run a business. Well, not really, but there's a lot of good stuff in here. *** Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 388611 CrashCourse
How Airlines Price Flights
 
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Get 3 free meals from Blue Apron at http://cook.ba/2CdixUK Subscribe to Half as Interesting (The other channel from Wendover Productions): https://www.youtube.com/halfasinteresting Check out my podcast with Brian from Real Engineering: https://itunes.apple.com/us/podcast/showmakers/id1224583218?mt=2 (iTunes link) https://www.youtube.com/channel/UC_10vJJqf2ZK0lWrb5BXAPg (YouTube link) Support Wendover Productions on Patreon: https://www.patreon.com/wendoverproductions Get a Wendover Productions t-shirt for $20: https://store.dftba.com/products/wendover-productions-shirt Youtube: http://www.YouTube.com/WendoverProductions Twitter: http://www.Twitter.com/WendoverPro Email: [email protected] Reddit: http://Reddit.com/r/WendoverProductions Animation by Josh Sherrington (https://www.youtube.com/heliosphere) Sound by Graham Haerther (http://www.Haerther.net) Thumbnail by Joe Cieplinski (http://joecieplinski.com/) Music: “Back Vibes Rollin at 5” by Kevin MacLeod, “Not for Nothing” by Otis McDonald, “Cold Funk Funkorama” by Kevin MacLeod, “It's Always Too Late To Start Over” by Chris Zabriskie, and “The Big Score” by MK2 American A321, Air Canada Q400 footage courtesy PDX Aviation Big thanks to Patreon supporters: M, Pete, Ken Lee, Victor Zimmer, Paul Jihoon Choi, Dylan Benson, Etienne Deschamps, Donald, Chris Allen, Abil Abdulla, Anson Leng, John & Becki Johnston, Connor J Smith, Arkadiy Kulev, Hagai Bloch Gabot, William Chappell, Eyal Matsliah, Joseph Bull, Marcelo Alves Vieira, Hank Green, Plinio Correa, Brady Bellini
Views: 1458492 Wendover Productions
Management Consulting Case Interview Example w/ Gil & Lauren
 
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Gil and Lauren walk you through a sample case interview question and help guide you through the thinking process. They highlight what they're looking for during the case interview process and what makes a great answer. If you're looking for help with an upcoming management consulting interview where you're sure to be asked a case question, don't miss this valuable video packed with helpful tips. To learn more about careers at L.E.K. Consulting, please visit http://www.lek.com/careers or connect with the L.E.K. Advisor @: LinkedIn: http://www.linkedin.com/in/thelekadvisor Facebook: http://www.facebook.com/TheLEKAdvisor Twitter: http://twitter.com/#!/LEKadvisor
Views: 193864 LEKConsultingllc
Pricing Guidebook Webinar
 
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Are you a food entrepreneur struggling with the best way to set a price point for your product? It’s a common experience in the food industry, but now the Agricultural Utilization Research Institute has some answers to help you succeed. This video discusses the following elements of food pricing: • How a food business creates value for consumers with its products, and how value can impact the sell price. • The differences between different sales channels in the food industry (i.e., grocery store vs. drug store vs. dollar store vs. warehouse, etc.), and how your sell price may be impacted at each location. • How a business’ product cost is different from the value it creates, and how the product’s price is thus impacted. • The importance of testing your pricing strategy, and the different testing approaches a business may use to answer their relevant questions. • Comparison of product pricing across different food industry sales channels and how the pricing strategy differs from one channel to the next. • Provides an example of how product pricing can be used as an innovation strategy in and of itself. • The key takeaways in defining a pricing strategy for food products, as a companion to the Pricing Guidebook commissioned by AURI. The mission of the Agricultural Utilization Research Institute is to foster long-term economic impact for Minnesota through value-added agricultural products.
Actual Live Sales Call With Dan Lok
 
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Click Here To Discover How To Close More High-Ticket Sales: http://actualsalescall.danlok.link What does an actual sales call look like? In this video, The King of High Ticket Sales™, Dan Lok demonstrates how to handle price objection, and close the deal in a short call while keeping control of the conversation. Enjoyed this video? Click here to learn the art of high-ticket sales: https://www.youtube.com/watch?v=UenRuO4vrOg&list=PLEmTTOfet46NufVkPfYhpUJAD1OBoQEEd ★☆★ SUBSCRIBE TO DAN'S YOUTUBE CHANNEL NOW ★☆★ https://www.youtube.com/user/vanentrepreneurgroup?sub_confirmation=1 Check out these Top Trending Playlist: 1.) How to Sell High Ticket Products & Services: https://www.youtube.com/playlist?list=PLEmTTOfet46PlgDZSSo-gxM8ahZ9RtNQE 2.) The Art of High Ticket Sales - https://www.youtube.com/playlist?list=PLEmTTOfet46NufVkPfYhpUJAD1OBoQEEd 3.) Millionaire Mindset - https://www.youtube.com/playlist?list=PLEmTTOfet46O591glMGzRMoHaIJB-bQiq Dan Lok, a.k.a. The King of High-Ticket Sales is one of the highest-paid and most respected consultants in the luxury and “high-ticket” space. Dan is the creator of High-Ticket Millions Methodology™, the world's most advanced system for getting high-end clients and commanding high fees with no resistance. Dan works exclusively with coaches, consultants, thought leaders and other service professionals who want a more sustainable, leveraged lifestyle and business through High-Ticket programs and Equity Income. Dan is one of the rare keynote speakers and business consultants that actually owns a portfolio of highly profitable business ventures. Not only he is a two times TEDx opening speaker, he's also an international best-selling author of over 12 books and the host of Shoulders of Titans show. Dan's availability is extremely limited. As such, he's very selective and he is expensive (although it will be FAR less expensive than staying where you are). Many of his clients are seeing a positive return on their investments in days, not months. But if you think your business might benefit from one-on-one interaction with Dan, visit http://danlok.com ★☆★ WANT TO OWN DAN'S BOOKS? ★☆★ http://www.amazon.com/Dan-Lok/e/B002BLXW1K ★☆★ NEED SOLID ADVICE? ★☆★ Request a call with Dan: https://clarity.fm/danlok ★☆★ CONNECT WITH DAN ON SOCIAL MEDIA ★☆★ Blog: http://www.danlok.com/blog/ Podcast: http://www.shouldersoftitans.com/ Twitter: https://twitter.com/danthemanlok Instagram: https://www.instagram.com/danlok/ YouTube: https://www.youtube.com/user/vanentrepreneurgroup Linkedin: https://www.linkedin.com/in/danlok Amazon: http://www.amazon.com/Dan-Lok/e/B002BLXW1K This video is about Actual Live Sales Call With Dan Lok https://youtu.be/xMOGd1eS31A https://youtu.be/xMOGd1eS31A
Views: 867802 Dan Lok
Elasticity and the Total Revenue Test- Micro 2.9
 
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Why don't gas stations have sales? I explain elasticity of demand and the differnce between inelastic and elastic. I also cover the total revenue test and give you a little trick to remember it. Thanks for watching. Please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 1087816 Jacob Clifford
10 Ways You’re Secretly Tricked By Companies
 
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You may not know it but companies are constantly tricking, influencing and deceiving your buying habits as consumers. Basically, there are Shady Ways Companies Are Ripping You Off that you might not know about. Here are 10 ways you're secretly tricked by companies! Subscribe for more! ► http://bit.ly/BeAmazedSubscribe ◄ Stay updated ► http://bit.ly/BeAmazedFacebook https://twitter.com/BeAmazedVideos https://instagram.com/BeAmazedVideos◄ For copyright queries or general inquiries please get in touch: [email protected] Credit: http://pastebin.com/3kwBpeq0 Deceptive Labeling Tactics - People these days tend to be more concerned about what they’re putting into their bodies, which means taking the time to look at nutrient information on the side of their food. Most labels are organized according to quantity, with the most common ingredients being at the top. One method companies use to skew this information is the redistribution of ingredients: a product that is high in sugar, for example, could be further divided into sucrose, corn syrup, brown sugar, or dextrose, and as long as each of these types of sugar are small enough, none of them will appear at the top of the ingredient list, giving the impression that a product is healthier than it actually is. Anthropomorphism - It may just be a human quirk, but we love giving human qualities to animals or inanimate things. We give pet names to our cars, we scream at our computers when they’re not working, and we assume the weather is out to get us. In other words, when we attribute characteristics to an object, we immediately begin to empathize with it. Anti-Advertising Slogans - What’s the best way to advertise something? Well, how about not advertising it? This is the approach that some companies have taken by offering transparency. The principle behind their strategy is similar to reverse-psychology. A number of studies have found that by intimating that someone shouldn’t buy their products, they are in fact advertising honesty, and capitalizing on preconceived notions about the deceptive nature of advertisements. Misleading Visuals - We are a virtually graphic culture. We place a certain faith in what we can see, and as our dominant sense it’s what we use to shape our perceptions of what the world is like. So, it’s no surprise that marketing agencies manipulate the visuals around us on a daily basis. Misleading Commercials - The same principle as before also applies to the rampant use of CGI in commercials these days. The most blatant example of this is in car commercials. When you watch any car commercial or car scenes in movies, chances are the car you're watching isn't actually real. In other words, most of the cars you see have actually been created on the computer. Decoy Pricing - The decoy effect, or the ‘asymmetric dominance effect’, refers to a tendency in humans to change their preferences based on whether or not a ‘decoy’ product is introduced that is inferior to other choices. The best example of this is when a consumer is confronted with two computers with similar qualities and prices. Overpricing - Have you eaten at a fancy restaurant and noticed one of their most expensive dishes, and then decided to go with a cheaper option? You may have fallen into a marketing ploy related to a cognitive bias, called “anchoring”. Reduced Portion Sizes - Do you find yourself whining about how much air there seems to be in bags of chips these days? In the food industry in particular, reduced portions have become an increasing trend. On the surface, this might seem like a great idea, given the western worlds obesity epidemic – until you discover that the prices for products don’t reflect the diminished packet sizes. Gruen Transfer - Named after the eminent mall architect Victor Gruen, the Gruen Transfer refers to the maze-like quality which hallmarks many malls and super stores. Gruen discovered early on that creating an environment of disorientation helped to sway people into a false sense of security and expose them to products they might not have ordinarily bought. Strategic Layout of Products - When you go into Safeway or a Husky gas station, what you might not realize is that the placement of every food product has been carefully designed, tested, and implemented. Too such an extent that companies actually have representatives and quality consultants making rounds to ensure everything is where it’s supposed to be.
Views: 4295365 BE AMAZED
Calculating the Elasticity of Demand
 
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Elasticity of demand is equal to the percentage change of quantity demanded divided by percentage change in price. In this video, we go over specific terminology and notation, including how to use the midpoint formula. We apply elasticity of demand to the war on drugs, and more broadly to the prohibition of a good when it has an elastic demand. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1Qysho1 Next video: http://bit.ly/1S1yhuZ Help us caption & translate this video! http://amara.org/v/GCsY/
Learn How to Set the Retail Price for Your Product in 12 Minutes
 
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http://www.tamaramonosoff.com/books/margin-calculator/ Here's a video tutorial to help you set a retail price for your product so that you have enough money left over for you! This is intended to take the fear out of the process. This is perfect for those who are not "math lovers" and prefer no business jargon. Want this Margin Calculator for your own use? You can purchase the spreadsheet here: http://www.tamaramonosoff.com/books/margin-calculator/ It's under $20 and is an invaluable tool that my students RAVE about! P.S. Once you receive the margin-calculator in your inbox, make a copy and work on the copy... that way you can always have the original to go back to.
Views: 18100 Tamara Monosoff
Product Life Cycle (BBA, MBA, B.Com., M.Com.) Lecture by Ms. Surbhi Mathur.
 
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In this video lecture stages of product life cycle has been discussed. A product goes through various stages in its life such as: Introduction, Growth, Maturity & Decline. Thanks for watching and commenting. If you like our video you can Subscribe Our Youtube Channel here https://www.youtube.com/user/gurukpobiyanicollege?sub_confirmation=1 And You can also Subscribe to our Biyani TV Channel for quality videos about Fashion Lifestyle, Current affairs and many useful topics https://www.youtube.com/channel/UC50PUq-NO3Upw7XYsjwKQrA?sub_confirmation=1 Gurukpo.com is the fastest growing educational web portal where all kind of academic information/Notes are available free of cost. For more details visit http://www.gurukpo.com These Videos are produced by Biyani Group of Colleges Jaipur, a fastest growing girls college in India. Visit http://www.biyanicolleges.org Share, Support, Subscribe!!! Subscribe: https://goo.gl/3gBszC Youtube: https://goo.gl/cjbbuL Twitter: https://twitter.com/drsanjaybiyani Facebook: https://www.facebook.com/drsanjaybiyani/ Instagram: https://www.instagram.com/prof.sanjay... Website : http://www.sanjaybiyani.com http://www.biyanitimes.com You can Subscribe to our Biyani TV Channel for quality videos about Fashion Lifestyle, Current affairs and many useful topics https://www.youtube.com/channel/UC50P... Other Suggested Videos: https://www.youtube.com/watch?v=9GBjMbIYjyo https://www.youtube.com/watch?v=-WXxxR-Ry3E https://www.youtube.com/watch?v=zr46j40GgoI https://www.youtube.com/watch?v=NcDOot_Mm6I https://www.youtube.com/watch?v=GiaZLScAg4k https://www.youtube.com/watch?v=hCCBUC0T9lY https://www.youtube.com/watch?v=s71n7rGvv-w
Views: 146963 Guru Kpo
Pricing Analytics: Segmenting Customers To Maximize Revenue
 
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Potential customers for a product or service can be segmented into valuation groups. High valuation groups are willing to pay more for the product or service, while low valuation groups are only willing to pay a lesser amount for the same product or service. This presentation provides a basic background on yield management through customer segmentation, and a hands-on example of modeling airline customer segmentation using Excel.
Views: 14702 Michael Lamont
Segment 7 - Sales Prices, Net Profit and Break-Even-Analysis.mp4
 
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Segment 7 SALES PRICES, NET PROFIT and BREAK-EVEN ANALYSIS In this Segment, let's first look at 'Sales or Selling Price'. What is the amount of money that the business owner will sell the product or service? Questions surround: "Will it be too much, not enough, how does the price compare with competitors' prices, what is the suggested retail. Buyers are always looking for a bargain. Buyers are also more informed. Buyers shop around and have a relatively good idea what the item is worth. Price is important, but that is not the only factor in buying. A key to a successful business owner is the knowledge of what the product or service is worth, how it compares to its competitors and how many buyers are needed. The business must sell enough products / services to meet their expenses and stay in business by keeping the selling prices within reason. Having the lowest prices does not necessarily bring buyers to the business. For the business owner, it means that the number of items sold must meet the monthly expenses. Successful businesses maintain sales goals on a monthly and sometimes weekly basis. How they arrive at goals is based on the number of sales it takes to meet all expenses plus additional amounts for profit. If a business has multiple products and varying prices, averages of sale prices need to be established. A shoe store with multiple price ranges of different shoes would average out all of the sales on every customer who purchases during a period of time. Basically the sales goal would be the number of customers' times the average amount spent which equals the expenses on a monthly basis. A computer programmer who charges per hour may have (5) five or (6) six customers with different lengths of time. Basically, the Selling goal would be the number of hours times the rate that equals expenses on a monthly basis. It would not be based on how many customers. The selling price of the product or service must be reasonable and attainable on a monthly basis, but it is not the price but the number of times it is sold each month. Lowering the selling price to get a competitive edge may be good for business and good for customers, but that business will have to increase in number of sales in the same time period to meet their expenses Another key factor for establishing the selling price is the replacement cost and related costs of the product sold.....or the adequate amount of time needed in providing the service. This is the COST of GOODS. Replacement of products or time needed to complete the service is based on many factors and a very careful watchful eye should be on all costs associated with replacing the item sold. In service work, discussion in Segment 8 will be on Time Management which is one of the most important aspects for a business. In Segment 6, discussion was on COST of GOODS and all of its related Costs. With these key points in mind, the selling price must be competitive, must be affordable by the buyers, must be of quality, must be perceived as worth the amount of the product and there must be enough sales in a given period of time, such as a month to insure all expenses are paid and an extra amount Net profit is not to be confused with Gross Profit. Gross profit is calculated as the amount of monies received in selling product and services in a month less the Cost of Goods. Business Expenses are subtracted from the gross profit and not the sales of a product to determine net profit. The Net Profit of a business starts with the Selling Prices of a product or service and how many sales must be made in a month's time to cover all of the expenses generated by the business. If the business does not make the needed sales that meet all of the expenses, (accounts receivables are not considered sales until payment is made,) another way will be need to pay. The formula is simple: Number of Sales times the price of each sale = the total cost of the expenses. That is also, in simple terms, a Break-Even Point. Break-Even Analysis is determining how many sales of items must occur to meet all of the expenses given additional set of circumstances which will be discussed in a minute. Once all expenses have been paid and there is money left over, these monies can then be considered net profit. If there is not enough money available to cover the expenses, then there would be a Net Loss.
Views: 2484 Parick Dengel
Price Ceilings and Floors- Economics 2.6
 
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In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph and identify if there is a shortage or a surplus. Keep in mind that your teacher may use the word "binding" to describe the situation where the price control has an effect on the market. If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Next videos showing what happens to consumer surplus, producer surplu, and dead weight loss https://www.youtube.com/watch?v=n0LXkA9kato All Microeconomics Videos https://www.youtube.com/watch?v=swnoF... All Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3... Watch Econmovies https://www.youtube.com/playlist?list... Follow me on Twitter https://twitter.com/acdcleadership
Views: 591508 Jacob Clifford
10 Psychological Triggers to MAKE PEOPLE BUY From YOU! (How to Increase Conversions) Sales Tricks
 
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Use these 10 proven psychological triggers to get customers to BUY MORE from YOU! ►► FREE WEBINAR - $5 Million/Year Training: http://wholesaleted.com/go/workshop2 ►► WATCH LAST WEEK'S VIDEO: https://youtu.be/Br--4ggyMaU ***OTHER LINKS*** ►► 10 Sales Psychology Hacks: https://youtu.be/q-7_oc3sU5Y ►► Brutally Honest Store Review: https://youtu.be/jHoL0yg0Lo0 ►► Why You Aren't Making Sales: https://youtu.be/NqhaDTsCEe8 ►► https://www.facebook.com/delish/videos/10156441757252437/ Learn 10 psychological customers to make customers buy more items from you! Sales psychology is a secret weapon - yet most people fail to obtain it. Here are 10 of our best psychological “triggers” that you can use in your store today to increase sales and conversions. Trigger #1: Incite Customers to Buy by Giving Them Something for Free When you give a customer a freebie like a coupon, we trigger the social norm of reciprocity. When someone does something nice to us, we feel a strong obligation to return the favour. Use personalized coupons that offer someone a unique discount. For Amazon sellers, include a coupon inside the customers packaging. Trigger #2: Create Envy with Customer Reviews Customer reviews help to create envy in your prospective customers. If we see our neighbours benefiting from something, we become envious and want to receive this benefit too. And so that’s what positive product reviews do. If you’ve got a Shopify store, include a review app like Stamped.io that asks customers to leave a review. For Amazon sellers, use Jump Send which also automatically emails your customers asking them to leave a review. Trigger #3: Use Curiosity to Drive Traffic & Engagement Curiosity should feel like an itch you NEED to scratch. The spin-to-win coupon pop-up box is again a good example of this. And for Amazon sellers, a great way to add curiosity to your marketing strategy is to be creative with the review request email titles you use e.g. “I have a favour that I’d like to ask you?” instead of just asking for a review. Trigger #4: Use Photos to Help Customers Visualize If you run an online store, don’t just include the basic photos of a product against a white backdrop. Instead, look for photos that the supplier has provided showing it in a real-life context. And if the supplier doesn’t have these, consider buying a test product and taking your own photos. The same applies to if you sell on Amazon. Trigger #5: Use Photos to Create Emotions in Customers If you run an online store, be sure to include pictures of people using the product and - more importantly - ENJOYING themselves using it too! Trigger #6: Use Price Anchoring to Push Prices Higher Price anchoring is when you place two products with different prices side-by-side, and it’s most effective when there are at least 3 pricing tiers. Most people pick the middle-price product. It looks cheap compared to the expensive option, but people will assume it’s higher quality than the cheap option. It’s the comfortable compromise. Trigger #7: Include Product Pictures with Human Faces Similar to trigger #6, this trigger uses humans - particularly the face - as a way of increasing sales conversions. Consider purchasing a test product and taking your own photo with the item. Trigger #8: Pain Is More Motivating Than Pleasure Pain is a stronger motivator than pleasure. In your product descriptions, emphasize how your product can remove a pain point that a prospective customer is experiencing (and wants to get rid of). Trigger #9: Create a Common Enemy Essentially, this is creating an “Us vs. Them” attitude against a competitor you have. Look at your market or niche you are selling in: Who is your common enemy? Identify who they are and position your product against them. Trigger #10: Phrase Your Prices as Low When you emphasize how low your prices are using words like “only” and “just”, conversions and sales always increase. When you’re phrasing your pricing in marketing materials, don’t be afraid to verbally minimize the price e.g. “It costs just $9.”
Views: 21782 Wholesale Ted
Conjoint Analysis in 10 minutes - Business Performance Management
 
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Conjoint analysis or stated preference analysis is used in many of the social sciences and applied sciences including marketing, product management, and operations research. The presentation explains the principle, using a simple example. It shows, how to calculate the part-worth utilities and how to derive the relative preferences from individual attributes from there. A full factorial and a fractional factorial design is used. An Excel template for this example is available from the author.
Views: 88199 BPMSG
Costs of Production- Microeconomics 3.3 (Part 1)
 
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In this video I explain the costs of production including fixed costs, variable costs, total cost, and marginal cost. Make sure that you know how to calculate the per unit costs: AVC, AFC, and ATC. Let me know what you think and please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Next video-drawing the cost curves https://www.youtube.com/watch?v=qYKJdooEnwU Watch Episodes of Econmovies- https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH More videos about the costs of production- https://www.youtube.com/playlist?list=PLE70CA726102FB294
Views: 808869 Jacob Clifford
10 Sales Psychology Hacks for Dropshipping Sales & Conversions
 
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Learn 10 sales psychology techniques to make more sales & conversions when dropshipping. ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Get Our Premium Step-By-Step Dropshipping Course: https://thedropshipclub.com ***OTHER LINKS REFERENCED IN THIS VIDEO*** Is Dropshipping a Scam: https://www.youtube.com/watch?v=2sB7ZiLRzG4 DO NOT Dropship These 5 Items: https://www.youtube.com/watch?v=afaknQqkiAw 10 Things to Do BEFORE Dropshipping: https://www.youtube.com/watch?v=YPKvNTly7Pg Start Dropshipping With $50: https://www.youtube.com/watch?v=ZY4HQKhRfpo Sales Psychology Hack #1: Use Percentage Discounts Over Number Discounts If you are dropshipping an item priced at $30, and then discount it to $15, you would have two options. You could say that the item is $15 off, or you could say that you save 50%. It has been shown that using the percentage discount in this case converts at a much higher rate. Why? Because even though it is mathematically the same discount, 50 is a bigger number than 15, so it makes the customer feel like they are saving more money. Sales Psychology Hack #2: Add a Reason for the Discount Customers are more likely to buy an item if they see a reason that it is discounted. The reason for this is because it increases the sense of urgency for the customer. For example, if an item is on sale at 50% off as a special easter sale, then the customer has another added element of scarcity: they know that when Easter ends, that the sale will disappear - and so it reinforces that they need to act now and not miss out. Sales Psychology Hack #3: Highlight Benefits, NOT Product Features When writing ad copy and your product descriptions, discuss how this product will benefit the customer’s life instead of talking about the features of a product. Benefits show the customer how the mug will directly improve their life. If you simply list features, then the customer has to take the time to see how these features will impact them. Do the work for them. Sales Psychology Hack #4: Use Jargon & Slang One of the challenges with dropshipping with Facebook ads is building trust between the potential buyer and you. And one way that you can do that is by including niche-specific jargon and slang in your product ad and descriptions. It shows that you are knowledgeable in the niche, and it builds a connection between you and your potential customers. Sales Psychology Hack #5: Paint Pictures & Overcome Obstacles with Photos Photos/pictures can do more than just show off the product. You can also use them to help the customer imagine themselves using the product - and use them to overcome objections they may have about the product (e.g. have a picture that shows the measurements of the product on it) Sales Psychology Hack #6: Use HD Photos that Customers Can Zoom In On Amazon.com have shown that if customers can zoom in on pictures, it noticeably impacts conversions. Customers like to see finer details of items that they buy, and it also makes your store look more professional - building trust between you and them. Sales Psychology Hack #7: Use Short Product Descriptions Usually, short product descriptions work best over long product descriptions when you are running paid traffic to the pages. Long page copy can be distracting for a customer that is in the mood to impulse purchase. This is why we recommend choosing either paid traffic or free SEO traffic to focus on: SEO traffic requires long product descriptions, which conflicts with this. Sales Psychology Hack #8: Use Trust Words & Emblems Another way that you can build trust with potential customers is by including words and emblems on your store from brands/things that people already trust. E.g. you can include credit card company emblems on your site (as you accept them as a form of payment). You can include USPS as ePacket items are delivered via USPS. You can post SSL certificate images (if your site has one installed). And you can highlight certification certificates if the product you’re selling has been approved by one, like the FDA. Sales Psychology Hack #9: Use Emotive Words If your product ad and description, use words that will evoke feelings in a customer. One good feeling to evoke is the feeling of getting a great deal (words that can do this include limited, hurry, slashed, massive and bonus). Another good emotion is curiosity (words that can do this include special, surprise, odd, bizarre and trick). And the final emotion to focus on, is the feeling of looking good (words that do this include gorgeous, stunning and elegant). Sales Psychology Hack #10: FREE is the Most Powerful Word Of All The tried and true technique of selling items for free + just pay shipping still works great. The word “free” is extremely powerful. This technique has been used for years. It’s not always suitable for your promos, but if you get a chance to try it, do it and see your conversions increase.
Views: 46814 Wholesale Ted
Financial Engineering Examples
 
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ZACH DE GREGORIO, CPA www.WolvesAndFinance.com In this video, I am going to walk through two examples that are a little bit more advanced. This video is really about giving you insight into what is possible with Accounting and Corporate Finance. But before we jump into the example, I want to talk a little bit more about the name. Financial Engineering. This term came about, because somebody decided to combine the words “Finance” and “Engineering” to create Financial Engineering. And the whole idea here is that Finance professionals can design a company the same way an Engineering designs a machine. Now I bring up the term, because unfortunately, Financial Engineering has developed a negative connotation. Because what most people see, is finance professionals walking into a company somewhere. And what these financial professionals do, is radically restructure the financial statements. So they take the financial statements and flip them around, and turn them inside out, and restructure the company. And when the financial professionals walk out, the stock price doubles. However, nothing about the operations of the company has actually changed. The only thing that is different is these pieces of paper. In fact, these changes on pieces of paper are actually creating a lot of value for everyone involved in the company, and that is what I’m going to explain. I explain an example of restructuring a company. Your accounting is a product. You are selling this accounting product to investors. You need to be as thoughtful with the accounting you are presenting to your investors, as you are with the product you are presenting to your customers. I know that a lot of business owners spend a lot of time thinking about whether their products are meeting their customer’s needs. Well you have to also think whether your accounting is meeting your investor’s needs. Now there are a couple of warnings to this example. I am not advocating that you split every business apart. Please be aware these examples are not one-size fits all. Every business is different, so you have to be very thoughtful about Financial Engineering. There might be very good reasons to keep the business together rather than split it apart. Second, I make this sound very easy, and this is not easy at all. At the very least, you are going to have to go through your last three years of accounting records and split apart the two businesses. This is not an easy task. Now you might think to yourself, my company is too small, this doesn’t apply to me. But if you understand financial engineering, you can think 10 years ahead and set up your accounting to get the biggest bang for your buck when your company is large enough. A massive company restructuring is a dramatic example of Financial Engineering. Let me switch to a more common example. Pricing. Pricing is a very difficult topic. A lot of businesses set their pricing with their gut. However, pricing can be done more effectively by taking a methodical financial engineering approach, and using advanced mathematics and statistics to set your prices. And in fact, this is what most major companies do. You can set up mathematical models. You can use statistics. You can use algorithms programmed into computer software to help you in your pricing decisions. So these are just two examples of Financial Engineering. More and more, this is what accounting looks like at the highest levels. Financial Engineering is about using all the financial tools and techniques at your disposal, to create the most value in our businesses. Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
Views: 8616 WolvesAndFinance
A New Look at the 4Ps of Marketing
 
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https://www.Mirasee.com - (we have a new brand - Mirasee) The 4Ps of Marketing may sound simple, but they represent a very important business algorithm. Applied correctly, it can skyrocket your business's growth... In this video, the team at Firepole Marketing define the 4Ps of marketing (Place, Price, Product and Promotion) and investigate how, if properly combined and implemented into a marketing plan, they can increase sales and bring more value and happiness to your customers.
Views: 391179 Mirasee
How To Sell High Ticket Products On Shopify ($100+ Profit Per Sale)
 
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Views: 76915 Kevin David
Example Z06 pricng from Top Corvette Salesman  Employee & Supplier pricing HONORED
 
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Support my channel when shopping at Amazon. http://bit.ly/chevydudeamazon The cheapest car is not the best price. There are so many gadgets, technology, screens, warning, displays, etc on the new C7 Corvette that you need someone after the sale. There is NO ONE that will take car of you after the sale like I will. I offer a very fair price on my cars, exceptional customer service, and world class after the sale follow up. Being #1 isn't just about the amount of sales. It's about customer service passion to help, love for the product you sell and so much more. I am able to help and want to help you with your purchase regardless of where you live in the country. I have shipping resources and major airport that I can pick you up from to get you the perfect car. Don't' forget to "SHARE" my video, Subscribe to my You Tube channel, follow me on Facebook and Twitter. My Reviews http://bit.ly/lvillechevydude My name is Mike Davenport and I am the top salesperson for Bachman Autogroup and Bachman Chevrolet in Louisville, Ky. I also am #1 in Customer reviews for Kentuckina (all Makes) I can help you with the purchase of a new Chevy, Volkswagen, Subaru, and all sorts of used cars. If your looking for a vehicle please stop by and ask for me or visit my website for my contact info. www.LouisvilleChevyDude.com Don't forget to subscribe to my YouTube channel and follow me on Facebook, twitter, and Instagram. www.facebook.com/lvillechevydude www.twitter.com/lvillechevydude www.bachmanchevrolet.com www.bachmanautogroup.com If you are thinking of Shopping with any Local dealer please do yourself a favor and call or text me first, You will be glad you did. My cell phone is 260-602-1207 my office number is 502-719-3875 SEND ME MAIL for a feature in my next video!! Chevy Dude P.O. Box 99272 Louisville, Ky. 40269 -~-~~-~~~-~~-~- Please watch: "Chevy Dude gives away an Apple Watch to one lucky fan. " https://www.youtube.com/watch?v=b7BoRReBLIk -~-~~-~~~-~~-~- #Chevrolet
Views: 25407 Chevy Dude
What Do Actuaries Actually Do? Part 1: Pricing Car Insurance
 
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Actuaries assess the financial uncertainty associated with risk... but what does that really mean? In part 1 of my "What Do Actuaries Actually Do?" series, I discuss how actuaries price car insurance.
Views: 18749 Ellellevlog
Price Controls, Subsidies, and the Risks of Good Intentions: Crash Course Economics #20
 
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So, during times of inflation or deflation, why doesn't the government just set prices? It sounds reasonable, but price ceilings or floors just don't work. Adriene and Jacob explain why. Subsidies, however, are a little different, and sometimes they even work. We'll also explain that. Today you'll learn about stuff like price controls, deadweight loss, subsidies, and efficiency. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 359230 CrashCourse
Taxes on Producers- Microeconomics 2.11 ACDC Econ
 
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I explain excise taxes any show what happens to consumer surplus, producer surplus, and deadweight loss as a result of a tax. Make sure to watch the section about tax incidence and who pays the majority of a tax.
Views: 537564 Jacob Clifford
Perfect Competition in the Short Run- Microeconomics 3.8
 
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In this video I explain how to draw and analyze a perfectly competitive market and firm...and you get to meet Mr. DARP. Makes sure that you can use the graph calculate total revenue, total cost, and profit. Thanks for watching. Please subscribe. If you need more help, check out my Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 953673 Jacob Clifford

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