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Dacey Rankins

added blog Business
2025-02-05 15:43:56 -

Is There a Market for My Product or Service?
One of the most crucial questions for any entrepreneur or business owner is whether there is a market for their product or service. In today’s competitive landscape, simply having a great idea isn’t enough—determining if there’s demand for what you’re offering is essential for the survival and success of your business. Without understanding the market, you risk...

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Dacey Rankins

added blog Business
2025-09-16 16:16:34 -

Describe a Launch You Worked On—What Went Well? What Would You Change?
Every product marketer or product manager can point to a launch that shaped their career. Product launches are defining moments—they test planning, cross-functional collaboration, and the ability to adapt when things don’t go according to plan. Reflecting on past launches provides valuable lessons, not only for individuals but also for the organizations that want to refine their...

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Dacey Rankins

added blog Business
2025-01-10 14:14:06 -

How do I forecast revenue for a new business?
When starting a new business, forecasting revenue can seem like a daunting task. However, an accurate revenue forecast is crucial for planning, securing funding, and guiding your strategy in the early stages of your business. For startups, the challenge lies in predicting future income when historical data is often sparse or non-existent. To help navigate this, it’s essential to combine...

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Dacey Rankins

added blog Business
2025-09-04 13:23:03 -

How Should I React to Competitor Pricing?
Pricing is a powerful tool for businesses, but in competitive markets, it’s not enough to consider your costs and customer value alone. Your competitors’ pricing strategies play a major role in shaping consumer expectations and purchase decisions. Reacting effectively to competitor pricing can mean the difference between gaining market share or losing customers to rivals. This...

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Dacey Rankins

added blog Business
2025-09-04 13:21:48 -

Should I Segment My Customer Base and Price Accordingly?
One of the biggest mistakes businesses make in pricing is treating all customers the same. In reality, not all customers have the same needs, preferences, or willingness to pay. Some want the cheapest option possible, while others are happy to pay a premium for added convenience, quality, or brand reputation. This is where customer segmentation comes into play. Segmenting your customer base...

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Dacey Rankins

added blog Business
2025-09-15 18:53:35 -

What Constitutes an Effective Go-to-Market (GTM) Strategy?
Launching a new product, entering a new market, or targeting a new audience requires more than just a strong offering—it requires a well-structured go-to-market (GTM) strategy. A GTM strategy acts as the roadmap for how a business introduces its product to the right audience, through the right channels, with the right messaging, while ensuring the organization is aligned on execution....

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Dacey Rankins

added blog Business
2025-09-02 15:41:11 -

What Factors Affect Pricing?
Pricing is one of the most critical decisions in business strategy. Set it too high, and customers may look elsewhere. Set it too low, and you risk eroding profitability. While pricing may appear straightforward, it is influenced by multiple factors ranging from internal cost structures to external market dynamics. This article explores the key elements that affect pricing decisions, why they...

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Dacey Rankins

added blog Business
2025-09-04 13:20:37 -

What Is Customer Willingness to Pay?
One of the most critical aspects of pricing strategy is understanding how much customers are willing to pay for your product or service. Knowing this can make the difference between a product that sells successfully and one that struggles to find traction. Customer willingness to pay (WTP) is a cornerstone concept in economics and marketing, influencing pricing, product development, and market...

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Dacey Rankins

added blog Business
2025-09-04 12:16:22 -

What Is Penetration Pricing?
Pricing strategy is one of the most powerful tools in business. The way you set your price not only determines profitability but also influences brand perception, customer adoption, and long-term competitiveness. Among the various pricing approaches, penetration pricing is one of the most widely used strategies for rapidly building market share. This article explores what penetration pricing...

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Dacey Rankins

added blog Business
2025-09-04 12:15:32 -

What Is Price Skimming?
In the world of pricing strategies, price skimming is one of the most well-known approaches for introducing new products to the market. It involves launching with a high initial price to capture early adopters who are willing to pay a premium, then gradually lowering the price over time to attract broader market segments. This strategy has been used successfully by technology companies, luxury...

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