The four basic methods of making pricing decisions are cost-plus pricing, demand pricing, markup pricing and competitive pricing. These methods are used to determine the optimal price that a customer is willing to pay for a product or service.Know More
According to McKinsey & Company, increasing the price of a product or service by only 1 percent translates into a profit increase of 8.7 percent, assuming volume remains the same. There are four methods a company can use to calculate the optimal price.
Sales forecasting methods are techniques that apply historic sales data to determine future consumer purchasing trends. A company uses forecasting techniques to allocate funds in its budget for sales and marketing activities conducted over a specific period to maximize the return on their investment. Some sales forecasting techniques include forecasting based on the opportunity stages, length of the sales cycle, regression analysis and scenario writing.Full Answer >
The value of mercantilism in Western Europe from the 16th through 18th centuries includes advancing a monetary system based on gold and silver currency and engaging in trade with nations further away. The rise of mercantilism in Europe marked a shift from an agricultural economy, to an economy based on trade and production of consumer goods. Nations engaging in mercantilism sought reduction of imports and instead promoted production of goods and services internally, stimulating national economies.Full Answer >
Open tendering is a bidding process that is open to all qualified bidders. Often called competitive bidding, open tendering promotes competitive bids from all interested bidders. The bid process is advertised with specific criteria and qualifications noted, and the lowest bidder is accepted without the need for negotiations.Full Answer >
To stop telemarketing calls, use the website that the Federal Communications Commission has set up to protect consumers from unwanted intrusions. Adding your number to the Do Not Call list means that telemarketers face financial penalties if they keep trying to reach you after the deadline has expired.Full Answer >