The concept behind a fixed price is minimizing customer uncertainty of a final price, which may be due to market fluctuation, time-frame variables or potential changes to the scope of a project. A ...

Differential pricing is the practice of charging different prices for the same product based on a variety of factors, such as the time of purchase, the use of a loyalty card, age of the customer, and ...

Inflation has impacted almost every aspect of business in the past few years. From the cost of wholesale sourcing to hikes in resell rates, we're all struggling to find the right price for our ...

Whether you're starting from scratch or have an established business that's struggling to generate a profit, pricing—and getting your pricing right—is essential to business success. Pricing not only ...

The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. As a business owner, you’ll ...

As any experienced marketer knows, developing strategy is one thing—managing the change process to embed that strategy in the organization is quite another. All too frequently, companies make ...

Quickly rising labor costs are a major concern for quick-service operators these days as initiatives to accelerate minimum wage increases dominate the news. Since 2014, many states and municipalities ...

Pricing expert Rafi Mohammed warns against hasty changes to keep customers. Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession is not the time to panic and ...

A conversation with pricing expert Rafi Mohammed on when and how to change prices in response to Covid-19. Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession ...

A study with 500-plus consumers showed 62 percent of restaurants worry about how consumers will react—and with good reason. Let’s be clear: While dynamic pricing is a feasible option for many ...

Pricing strategy refers to the method by which businesses determine the selling price of their products or services. It is a multi-faceted component of overall business and marketing strategy that ...