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Dacey Rankins

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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

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2025-09-04 12:12:33 -

Do You Offer Any Discounts or Promotions?
When customers interact with a business, one of the most frequent questions they ask is: “Do you offer any discounts or promotions?” It’s a simple question, but it reflects a powerful truth about human psychology: everyone loves a deal. Discounts and promotions can influence purchasing behavior, shape brand perception, and even determine long-term loyalty. For businesses,...

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Dacey Rankins

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2025-09-04 12:07:54 -

How Do I Choose the Right Model for My Market or Business?
Pricing models play a central role in shaping how businesses capture value, compete in the marketplace, and communicate with customers. The right pricing approach can accelerate growth, while the wrong one can limit profitability or alienate customers. Entrepreneurs and established businesses alike often face the challenge of selecting a model that aligns with their product, market conditions,...

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Dacey Rankins

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2025-09-02 15:43:01 -

How Do I Determine the Right Price for My Product?
Pricing is one of the most important strategic decisions any business makes. Set your price too high, and you risk losing customers to competitors. Set it too low, and you might not cover your costs or may even undervalue your product. Determining the right price is a balancing act that requires careful consideration of costs, market demand, customer psychology, and competitive dynamics. This...

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Dacey Rankins

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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

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2025-09-04 12:09:39 -

How Flexible Should My Pricing Be?
Pricing is not just about setting a number and leaving it there. In dynamic markets where customer expectations, competition, and economic conditions shift rapidly, pricing flexibility is often the difference between thriving and merely surviving. But how much flexibility is the right amount? Too rigid, and you risk losing relevance. Too flexible, and you may confuse customers or weaken your...

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Dacey Rankins

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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

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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

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2025-09-04 12:13:30 -

What Are Dynamic Pricing and Its Benefits?
In today’s fast-paced markets, dynamic pricing has become one of the most talked-about strategies for businesses looking to stay competitive. At its core, dynamic pricing means adjusting prices in real time or near real time based on demand, competition, customer behavior, or other factors. While this concept has been around for decades—think of airline tickets or hotel...

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Dacey Rankins

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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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