Good, Better, Best

  Going back to my basic economics accountancy course, we used to be asked to calculate the best price to sell things at. A typical question would give three price points, and the levels of demand with each plus a cost of sale. So for example (and you can skip...
Price distractions

Price distractions

A few years back a group of US students were asked to think about the last 2 digits of their social security numbers and decide if they would pay that in dollars for any of a set of items in an auction. When the testers had the actual auction the students with higher...
Happy New Year

Happy New Year

  Firstly, a very Happy New Year to you all. Let’s hope that 2020 proves to be a successful and prosperous one. I promised you in December that I would write a series of posts about pricing. Mainly because it is the one area where most people get it wrong (me...
The SMART thing to do

The SMART thing to do

  It’s not always good to be SMART You will have heard of SMART goals (Specific, Measurable, Achievable, Realistic, Time limited) although there are other more comprehensive definitions (significant and stretching for the S for instance) But although setting...
Lazy, hazy days (hopefully)

Lazy, hazy days (hopefully)

    Got anything planned for the bank holiday weekend? Maybe you are going away for the full week, which is what we used to do when I was a child. I assume it took our minds off the impending return to school, but also the weather changes around this time so it...
Here be dragons

Here be dragons

As you can see we are now at the advanced development stage. When I was little I wanted to be an inventor. I know, most kids want to be firemen or cowboys or astronauts but I didn’t (well, astronaut appealed until I found out how hard the training had been). I loved...