The Art of Pricing
Buyers want to get good value for their money, and sellers want a good return on what is sold. Coming to agreement on what price satisfies both parties involves a process of negotiation. When someone buys, it is a cost;…
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Trust but Verify
I talked to a woman on a plane a few weeks ago; not unusual. She talked about how ineffective many of the HR training programs are in improving performance; again nothing unusual. Her post-doctorate work in this area revealed that…
Values Up or Prices Down
The Internet, enabled by cool applications, has brought the process of competitive bidding to an entirely new level. Reverse auctions, for example, have squeezed savings out of suppliers in every situation I am aware of. But it’s getting worse for…
Eventually, It All Boils Down to Cost
We should be grateful that accountants invented the concept of gross margin. The simple formula — revenue minus cost divided by revenue — really becomes valuable once we get past the arithmetic and view it as the extra value seen…