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Can You Justify a High Price?

There are various ways of going about pricing—you can go with a bargain rate to try to attract buyers who are looking to save money, or you could consider offering a high quality product or service and charging accordingly. The general rule for charging a high price, however, is that you need to be able to justify the pricing. Pricing and the market can be interesting—people are willing to pay higher prices for all sorts of reasons. They will pay more for a popular brand, or for prestige, and they are also generally willing to pay more for a higher … Continue reading →

Should You Charge More for Last Minute or Past a Deadline?

Increasingly it seems, everything is done last minute. People tend to treat deadlines as though they were a “suggestion” and not the last date for making a payment, a purchase, or filling out an application. Some businesses choose to just let all this last minute business slide and make accommodations, while others are finding that it is necessary and reasonable to charge fee for things that come in late. You may notice that if you attend a conference or purchase tickets to something, there is often a “price break” if you order or apply early. Of course, this is to … Continue reading →