The Art of Pricing (Premium pricing decisions that can develop a brand)

Think that there’s just three options available for pricing our goods, and services, a low-range, a medium-range or a high (premium) price and that’s all there is to it? Wrong. There is a real focus, almost single-minded determination required when it comes to the pricing of products and services, because without it you’ll struggle to have a sustainable business over the long-term. Here at GDM, we mostly work with manufacturers and retailers, and although their customer groups vary, both groups operate in highly competitive environments despite being in some lucrative niche markets. So, with so much competition, how do they steer a path that means they’re not willing to compromise on their long-term success? Well the simple answer to that … Read More >

Retail Discounting – The Road to Ruin

Discounting - The road to ruin

It’s tough on the high street right now, really tough. You may have heard the expression when people say things happen in a certain way because all the planets just line up right for them? Well I’d argue that at the moment that lining up of planets is having the opposite effect. Many retailers who have been struggling for some time with digital, have subsequently had GDPR to contend with and the rights of access of personal data, followed by Brexit and the general political climate both here and in the US and China. Then, on top of that, they’re now seeing the additional impact of a lack of footfall, caused through personal financial anxiety or environmental challenges (such as … Read More >

Marketing needs a capital ‘M’!

Some quarters of the marketing profession have been suffering for quite a while. They’ve been suffering from a poor image which many practitioners have allowed to happen, either through a lack of confidence or ability in their own skills or due to restrictions placed on their roles by their paymasters which stifle curiosity and endeavour, in other words…a lack of positive change.   In a recent article in Marketing Week (Sept 18), former CMO and author of ‘The 12 Powers of a Marketing Leader’ Thomas Barta stated, ‘If marketing were a brand, you would fire the CMO’. This is because in many firms up and down the land, a lack of understanding from business owners (and indeed many marketers) marketing … Read More >

Building an effective business – is there still too little regulation?

In this day and age I often hear many ‘Limited co’ business owners referring to an excess of Government bureaucracy, too much ‘red tape’ that ties them up in knots that they feel has a detrimental effect on their business. They may of course be right given there’s a raft of legislation to comply with. For example there is Companies House insisting on the receipt of annual financial declarations, notification of changes to address and legal structure, the visibility of statutory information on business stationery, internal changes to board structure and the need to follow those Articles of Association. Then there are those chaps from the Inland Revenue who have requirements for business and personal taxation and VAT returns. There’s … Read More >