The function of price is to make the product affordable or attractive to the target market while also reflecting the value of the benefits provided. In other words, price is an indicator of how the value of products or services is perceived by the buyers based on the pain points solved. Three concepts need to be understood: Value, Price, and […]
Search Results for: Price
A couple of clients from different industries asked me to comment about their intended price increase, so I wrote about the “7 Options to Increase Profit Without Increasing Price“. This is a follow up article to those without any other recourse but to increase price. In other words, this is to prepare for a Plan B scenario if any of the […]
Costs of goods and services have gone up because of the recent oil price hike which has multiplying effects along the value chain. The usual option considered is to increase price. As part of good governance practices, many companies require executives not just to show actual and expected cost increases but also alternatives to avoid any price increase during sensitive […]
Most companies today are stuck in what’s called a Red Ocean, a marketplace filled with intense competition, where businesses offer similar products and fight over the same customers. Coined by W. Chan Kim and Renée Mauborgne, the term describes the bloodied waters of saturated markets, where everyone’s trying to take a bigger slice of an already shrinking pie. Here, the […]
When we launched the Mansmith Young Market Masters Awards (YMMA) in 2006, our goal was simple but purposeful: to identify and celebrate young marketers and entrepreneurs under 35 who create real business results, not through shortcuts or price cuts, and celebrity endorsements, but through strategic thinking, market insight, and values-based leadership. Two decades later, this mission has grown stronger, not […]
One of the most persistent myths in product development is: “If you build it, they will come.” This belief has led many businesses to launch not because the market demanded it, but simply because they could. It’s the classic trap of supply-side thinking, where the focus is on what the organization can produce, not what the market needs. But hindsight has a way […]
Marketing is a dynamic and fast-paced profession. As marketers, we constantly face the challenge of balancing immediate results with long-term relationship building. Amid the pressure to meet targets and deliver outcomes, we sometimes confront difficult ethical dilemmas. How can we maintain integrity, especially when temptation pulls us in different directions? This Holy Week offers us an opportunity to pause and […]
A Unique Selling Proposition (USP) is the defining feature of a brand that compels consumers to buy or switch from their existing preferences. There are nine (9) different types of USPs, as outlined in the book Entrepreneurship (1978, by Josiah Go and Chiqui Escareal-Go), as well as in Entrepreneurship: The Four-Gate Model (2025, by Josiah Go, Chiqui Escareal-Go, and Calel Gosingtian). These USPs operate […]
In celebration of Mega Prime’s 50th anniversary, we had the privilege of speaking with its visionary chairman, William Tiu Lim, whose leadership has transformed the company from a small fishing operation to the market leader in canned sardines in the Philippines. Under his guidance, Mega Prime has continuously redefined industry standards through innovation, from investing in advanced fish preservation technologies […]
Understanding consumer behavior isn’t just about selling products it’s about understanding how people think, feel, and make decisions. Over time, marketers have discovered certain ‘laws’ that influence what consumers buy. Some of these laws are based on solid science, while others are just oversimplified myths. In this guide, I’ll break down some of the most important laws that drive consumer […]