by D. Maykl Muhammad | Aug 12, 2024 | Pricing Strategy and Profitability
SUMMARY Identifying cost-saving opportunities without compromising quality involves auditing operational processes, leveraging technology, and optimizing supplier relationships. Embracing lean manufacturing principles and sustainable practices can further reduce costs...
by D. Maykl Muhammad | Jul 6, 2024 | Pricing Strategy and Profitability
SUMMARY A business owner using Amazon’s fulfillment services blamed increased fees for his company’s bankruptcy, highlighting that entrepreneurship is not for the faint-hearted. Leveraging Amazon’s vast logistics and customer reach can be beneficial...
by D. Maykl Muhammad | May 29, 2024 | Pricing Strategy and Profitability
SUMMARY Cost analysis is crucial for informed decision-making, enhancing profitability, and optimizing resource allocation. By identifying cost drivers and setting realistic budgets, businesses can manage expenses effectively and improve their bottom line. It helps in...
by D. Maykl Muhammad | May 21, 2024 | Pricing Strategy and Profitability
SUMMARY Pricing for profit is crucial for business success but often overlooked. Many businesses undervalue their offerings, ignore market segmentation, and fail to adapt pricing strategies. Correct pricing enhances profit margins, increases perceived value, and...
