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 […]
Have you ever encountered a giver, a taker, or a matcher in your business journey? What about someone with a ‘teng tao’ mindset? If this term is new to you, read on, as understanding these dynamics can transform the way you lead and grow your business. In today’s business landscape, success increasingly depends on our ability to influence and connect […]
Decades ago, the metrics of success for a business book launch were relatively simple. Selling 200 copies in a single night was considered an achievement. We did a quick mental calculation and figured that in a two-hour window, the author had to sell 1.66 books per minute, or roughly 1 book every 36 seconds. In the past, the key activities […]
Opportunity-Seeking Opportunity Seeking is the process of spotting, evaluating, and pursuing relevant and sustainable revenue- and profit-generating activities in the marketplace. Thereare two general sources of spotting opportunities. Remember marketing is not just about satisfying customers – that is the role of products or services. Marketing satisfies customers better than competition at a profit, hence, both the voice of customers, […]
Zap began as a loyalty program operating as a merchant coalition model, allowing consumers to redeem rewards across various merchants. However, in 2015, a significant shift was necessary as the initial target market definition proved ineffective. Originally targeting end users, Zap faced resistance from merchants who felt the coalition undermined brand loyalty, as consumers redeemed points elsewhere. Responding to merchant […]
Entrepreneurs must navigate four gates to reach the “House of Prosperity”, which is the desired outcome of entrepreneurs with the promise of financial independence, personal freedom, and the realization of their deepest desires. These gates or hurdles that entrepreneurs need to overcome to attain business success are (1) the preparation gate, (2) the marketing gate, (3) the execution gate, and […]
Imagine diving into the intricate world of business models, where every term from “value proposition” to “value architecture” plays a critical role in shaping how businesses create, deliver and capture value. In this article, we will explore 50 essential business model terms that form the backbone of modern entrepreneurship and management. These terms are not just jargon but foundational ideas […]
USHER is the only Filipino-made Structural Health Monitoring (SHM) System, developed through an R&D collaboration project involving DOST, PCIEERD, DPWH, and MAPUA. In this interview, we asked Dr. Aldrine Uy, Usher President and CEO, and an enterprise innovation winner of the 4th Mansmith Innovation Awards, about technology innovation. Q1: For the benefit of the readers, can you briefly tell us […]