Understanding and leveraging the concepts of elastic and inelastic demand can be a powerful tool for marketers.
In this post, we work through the main steps of the cost-plus pricing formula using a step-by-step example.
Discounts have a profound psychological impact on consumers. The mere sight of a discounted price tag triggers a sense of urgency and excitement, tapping into the human desire for a good deal.
Explore the key advantages of cost-plus pricing for businesses. This article outlines why this pricing method is considered simple, flexible, and effective in ensuring profitability, as well as its usefulness for businesses with large product lines.
Discover the limitations of cost-plus pricing and its potential impact on your business. Learn about the key disadvantages, including a lack of consideration for competitive pricing, customer value, and profit maximization, among others.
The Marketing Study Guide has developed an easy to use Excel template for cost-plus pricing, which is free to download and does not require any sign-up.
In this article we look at the formula for cost-plus pricing and provide example calculations, plus we provide a free cost-plus pricing Excel template for download.