My wife and I have been running a food business (crepes) for seven months. We started with a penetration pricing strategy, setting the crepes' price below that of other competitors to gain market share. It worked because we were still profitable. But with the economy worsening, the price of ingredients is also soaring. We raised the price while still keeping it below our competitors' prices, but we are in survival mode because the profit is very thin. If we raise the price again then our price will be the same as our competitors, but our market share is still far from what we expected. What should we do? Raise it again or hold on ?
My product is called The Laser Rack. It incorporates laser technology into a billiard rack to allow for visible confirmation that the rack is perfectly aligned. I have received a lot of positive feedback from pros as well as amateurs. My dilemma is setting the price.
I am doing a project for school and one of the reqirements is to develop my own definition of marketing based on five to six different definitions from different sources. How you would define the word "marketing"?
I own and operate a seasonal lighting company that decorates people's homes at Christmas time. I believe that publicity from the local TV stations or newspapers could help my business boom this season! However, I can't figure out how they would find me. Should I contact them or hope they stumble upon my business?
My partner a I have a service bureau business specializing in document management services for the legal community. For 14 years we've had a steady business--until now. We are at a loss for what we can do next; we've exhusted all of our resources to keep sales coming in, but it hasn't worked.
Our family-owned company needs to consolidate its image and rebrand. Before we consult an image specialist, we want to develop cohesive positioning. Can I buy a roadmap-type product for the initial internal diagnosis?