Author: tamnnl1

A Definitive Guide to Pricing Strategies

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Pricing products and services such as roof installation can be quite tough. When you set too high prices, you will miss on a valuable sale. When you set prices to be too low, you will miss on stacking up the revenue numbers. Thankfully, pricing doesn’t have to be all that complicated. There are dozens of pricing models and strategies you can implement to help you in better understanding how to get the right revenue numbers for your business. Whether you are a beginner in business or an established veteran, the tactics and strategies explained in this guide can go a long way to make a difference.

Pricing Strategy

A pricing strategy is a model or method that is used to establish the best price for a product or service. It will help you in choosing the best prices to maximize profits and shareholder value while at the same time considering consumer and market demand. Pricing is not always as simple as its definition. There is a lot that goes into establishing the right pricing metrics. Pricing strategies account for many of your business factors such as revenue goals, target audience, marketing objectives, brand positioning, and product attributes. Pricing will also be influenced by external factors such as market demand, competitor pricing, among other factors.

Here are some of the most common pricing strategies you can implement for your business.

Competition based pricing

With this strategy, you will be implementing your pricing based on competition. This pricing strategy is focused on the existing market rate or the going rate for a company’s product or service. It doesn’t take into account the cost of the product or consumer demand. Competition-based pricing makes use of competitor’s pricing as a benchmark. Businesses that compete in a highly saturated space may choose this strategy because a slight price difference may be the deciding factor for customers. With this strategy, you can place your products slightly below your competition, the same as your competition, or slightly above your competition.

Cost-plus pricing strategy

This pricing strategy is solely based on the cost of producing your products or services. It is also known as markup pricing because businesses that use this strategy put a markup on the product to make a profit. The apply this strategy, all you need is to add a fixed percentage to the production cost of your products. This strategy is typically used by retailers who sell physical products. However, it may not be the best fit for the service-based market as these products will normally offer far greater value than the cost to create them.

Dynamic Pricing Strategy

The dynamic pricing model is also known as surge pricing, demand pricing, or time-based pricing. It is a flexible pricing strategy where pricing fluctuates based on market and consumer demand. There are many industries such as event venues, hotels, and utility companies that make use of this pricing method. All they do is apply an algorithm that factors in competitor pricing, demand, and other factors.

 

 

 

 

 

 

 

 

Categories: Business

Leader’s Guide to Effective Change Management

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The only thing that is constant in life is change. Every day, we are reminded of how change is coming. In businesses such as towing service, we always want to succeed. That all makes sense in theory, but when it comes to practical application, to change how we operate or serve our customers is never easy. Research has shown that 70 percent of change programs fail to achieve their goals. This is largely due to employee resistance and lack of management support.

 

Change Management

Change management refers to a systematic approach to utilizing the people within your organization to minimize resistance to organizational change. Although there are tools and models for change, at the core of any strong change management program is your people. No model will work if you continue to let employees be resistant to your ideas.

If you are looking to apply the change, here are some change management models you can use.

Kurt Lewin Model

The Kurt Lewin model applies three distinctive issues, which include- unfreeze, change, and re-freeze. It sounds like the most simplistic model on the surface, but there is a lot more to cover. During the unfreeze stage, you are essentially breaking down the current way of doing business and noting what needs to change. It is important to obtain two-way feedback on what needs to change. Gather the key stakeholders necessary and apply the change. Once everyone has been brought on board, it’s time to re-freeze.

 

ADKAR Model

The ADKAR model breaks down the human side of managing change. The idea means you should work through each letter of the acronym and focus heavily on individuals within your company. At the awareness stage, the goal is to learn the business reason for the change. The desire stage is dedicated to getting everyone engaged and willing to participate in the change. The knowledge stage aims at working towards understanding how to change. The ability stage focus on implementing the desired change.

 

Kotter 8 Step Model

This is a model developed by Harvard Business School Professor, John Kotter. It lays out 8 stages all companies must go through to see effective change management. You start by creating urgency through open dialogue that leads others in the organization to want the change as much as you want. You then form a powerful coalition of change agents in your organization. You create a vision for change and then communicate the vision.

Work on removing all obstacles to pave way for the needed change to happen. Create short-term wins to keep up the morale and show the team you are moving in the right direction. Work on building on the change by analyzing what went well and what didn’t work as expected. You finally anchor the change in corporate culture.

Another model, though not commonly used is Kim Scott Model. It is based on a 7 process which involves listening, clarifying, debating, and deciding on the best idea that will work. You then persuade, execute, and learn on the go.

Categories: Business

Everything You Need to Know About Twitter Marketing

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Twitter is one of the most used social media platforms in the work. Towing services in Jacksonville use the platform to advertise their services to hundreds of potential customers. Twitter users are 2.7 times more likely to purchase a product after seeing it on the platform. Twitter can be a powerful marketing tool for businesses whether new or established.

If you are running an eCommerce business and want to get the best from advertising on this platform, here is how to go about it.

Design an Eye-Catching Profile

Your twitter profile should be optimized to make a great first impression and eventually generate the required sales. You need to have consistent branding across your profile and this means your cover photo and profile picture should be complementary and visually appealing. The profile picture will mostly be a picture of your logo or something that represents your business and does communicate your mission, brand, and message. Use that section to spark the interest of those who come across your profile. You can also use keywords that are relevant to your business and implement a targeting.

Engage with your user base

The greatest thing about twitter is that it is made up of 24/7 interactions and constant activity, as compared to frequent posting from platforms such as Instagram and Facebook which makes these platforms feel like spam. On twitter, you will be interacting with followers and fans who are ideal potential customers. You can send interactive tweets, create polls, see instant results among others. You can also ask questions related to your products and services and keep tabs with what is happening in your industry.

Grow your following

Beyond the followers you have, Twitter gives you an excellent opportunity to grow your audience to increase your brand awareness and even attract more customers to your business. From a technical point, having more followers will allow you to distribute your content quickly and get the word out there about your business. You can garner vital attention by participating in Twitter conversations that are relevant to your business. You can also use Twitter Hashtags to get your business trending. With trending hashtags, you will be tapping into an entirely new network of people who may find interest in what you have to offer.

Schedule your content

If you have time for Twitter, your business stands to benefit a lot. With constant activity, you will boost your brand reputation and keep your business going well. If your tweets and meaningful and appeal to a wider audience, your presence will be felt by a lot of people. Ensure you research on optimal posting times and take advantage of the scheduling of your content to span the entire length of your calendar.

Make the Best out of Twitter Ads

Twitter will offer you different ads based on your objective. The best types of ads are those that focus on awareness as well as website click campaigns. These campaigns are mostly used for promoting brand awareness and generating conversations respectively. You will be billed for every 1000 impressions if you set awareness ads. For website ads, you will be billed for every click to your site.

 

Categories: Business

What to do as a Parent to Protect Your Child from Bullying

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Modern parents are faced with a common concern for their children when it comes to bullying. They are often searching for answers to what to do if your child is being bullied on every piece of information on this violent act on kids. Every time I’m at https://abingdontowtruck.com/ duties, I call my kids to ensure they are safe and doing well. Bullying has become more profound in today’s young generation. It is a problem affecting our children both at school and on the streets. Bullying takes place in several different forms such as physical assault (in kicking, hitting, and being bitten). Kids may also be subjected to social exclusion by being rejected by a particular group. There is a more common form of bullying through verbal harassment which involves name-calling and teasing in front of other kids.

This article is going to explore the ways you can identify and how to react to your child been bullied

Identifying  signs

Always keep a watchful eye for warning signs that shows whether your child has been bullied. The signs may seem obvious but often ignored like a recoil on the subject of school and holding back on sharing anything about their school. As a parent, you should show an interest in your child’s school life. By communicating regularly and finding out how they are getting along with their friends, and who are they having a falling out with at school.W

What to do on confirmation to bullying.

  • The parents should go on to finding every detail about what the bullies are subjecting their kids to. Documenting the date, time, actions, and where the bullying is taking place.
  • You need to show your child acceptance while providing unconditional love. You do not want them thinking there is something wrong with them. Remind them that it is the bullies who have a problem and not them. This will reassure them they don’t face this alone, and nobody should experience or put up with bullying.
  • Taking measures to protect and support your child as early as possible in finding out is paramount. At the same time remaining calm, do not over-react as this is the primary concern why kids don’t tell their parents they have been bullied.
  • Contact the school to book an appointment with the school principal. This meeting should occur during school hours. At the meeting layout the details of the bullying incident as obtained from your child. This should be done calmly don’t give in into emotions.
  • While consulting the school anti-bullying policy, come up with a plan to confront the issue with the principal. You should write down the agreement to hold him or her accountable for the proposed enactment. Later do a follow up on your child to make sure the bullying did stop while doing the same with the school principal.

Contact a children’s health counselor and get your child help.

You should try to get your child a mental counselor, aside from the school counselor. To help overcome the trauma of bullying. The child should also be encouraged to join in an extracurricular activity like drama. The activities will contribute to boosting confidence and create an environment for the child to make new friends and feel part of a group. The new association will ease the pressure on the child and enable him or her to get back to normal school life.

Categories: Law

Strategies to Help Solve Your Marriage Problems

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marriage problemsMany good marriages slide into crisis because people do not realize how much it takes to keep relationships healthy and thriving. It is very important to keep relationships – whether business – like we have in others working for https://wpbtowingservice.com/ or personal relationships, in a very stable state as it can guarantee you success and peace of mind.

When couples decide to seek marriage counseling, most of them are in a state of hopelessness and distress. However, if they have something to reflect on, then their marriage can be saved.

Here are some important tips you can apply when looking forward to saving your marriage which is on the rocks.

Make a list of all the issues

You need to make a list of all the issues you are disagreeing on. You also need to include a list of issues you refrain from talking out of fear they might lead to further arguments. You will be able to achieve a state of self-help if you find mutually agreeable solutions to the problems you are facing. If you are not able to identify the list of the issues you are fighting about, it can be very difficult to come into an agreement of solving your marriage issues.

 

Fix the mess yourself

Any attempts to get your partner change first will always make them defensive. No one likes being told that he or she is the one on the wrong or anyone trying to make them sound like a bad person. It becomes better if you decide to take some blame for the sake of your relationship. There is no need to become egocentric and self-centered when trying to solve marriage problems.

 

Cut negative talk

You need to realize the damage negative talk does to your life and that of your relationship. Negative talk and crap are totally unhelpful when trying to solve marriage issues. There should be no more anger escalations. There is a need to stay in a calm zone and avoid different types of provocations that can spike your anger.

 

Communication

You need to learn how to communicate and express concerns effectively. When conversations are sensitive, avoid making unnecessary jokes. Stick to the agenda of the talk and be open to express yourselves in a very positive manner. Learn to know what your partner doesn’t like and avoid speaking in a manner that is more likely to provoke them.

 

 

 

 

Categories: Law

The Effect of Divorce on Children

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divorceParents in separation and divorce are very much concerned about the effects divorce has on their children. When parents divorce, they wonder if their decision will affect the overall happiness and health of their children. The aspect of divorce is one that has a lot of interest to sociologists and psychologists in general. Divorce in itself doesn’t affect children in a negative way. However, the effect comes as a result of what happens after divorce.

The first year of divorce

The first year of divorce is normally the toughest. It is estimated that about 48 percent of Americans and British children have once lived in a divorced setup. Research also shows that kids struggle the most during the first year or second year of divorce. Kids are most likely to experience some form of anger, disbelief, and anxiety. However, many kids look to bounce back as they get used to daily routines and grow comfortable with the living arrangement.

Emotional impact

Divorce has a tendency of creating an emotional turmoil to the entire family. However, for kids, the situation can be a bit scary and confusing. Young children will always struggle to understand why they must be switched between two homes. Some normally worry that if their parents can stop loving each other, a time may come when they stop loving them too. Children at school normally worry that they might be judged unfairly when they do wrong in school.

Stress

There are other stressful events that are associated with divorce. There is the effect of children losing daily contact with one parent, which most likely happens to be the fathers. Divorce also has an adverse effect on a child’s relationship with the custodial parent which is most often their mothers. Primary caregivers have often reported higher levels of stress that is associated with single parenting. Studies have also shown that mothers become less supporting as well as less affectionate once a divorce happens.

Remarriage

There is also the challenge of remarriage and ongoing adjustments. In most cases, adults remarry within the first four years of after divorce. The addition of a step parent and the prevailing addition of stepchildren may have an undesirable effect on children. Many children have to get new kids as their friends and this may not go so well with some. The failure rate associated with the second marriage is even higher than that of the first marriage.

Categories: Law

Basic Things You should know about Divorce

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divorceGoing through a divorce is one of the worst things you will ever want to happen. When a marriage ends, spouses, as well as children, normally face a spell of a stressful time. There are new living arrangements, different parenting schedules as well as tough decisions about money and property. The separating spouse may be faced with a lot of emotions that may impair their ability to think straight.

Legal Expectations

However, getting through a divorce may seem easier if you are prepared for the whole process. First, you should not expect to win divorce cases. If such does not happen, you might be left emotionally and financially more vulnerable. You should not initiate a divorce with the intention of beating your spouse in court. When divorce occurs, you must be prepared to deal with issues such as child support, child custody, and property division.

Decision Making

You should not make important decisions without thinking them out. There will be many decisions you will be supposed to make concerning your spouse and children. You might be required to make a decision on things you might need to sell to support the upkeep for your spouse and children. When you are making these decisions, ensure that you are of sound mind. Do not make decisions out of emotions, but rather take your time to reason out.

Think about the Kids

You need to understand that you are getting divorced, but your kids are not. It is easy to get wrapped up the heat at such a moment. You need to observe your language. Saying some words in front of your kids may have a lasting effect on your children. Whenever you feel like you have to speak something hurtful, give yourself some time to think before you can speak. Unless there is a history of abuse and neglect, your children should not have a problem relating with the other spouse.

Prepare for future

First, you need to forget the past and prepare for the future. You should not believe anything other people tell you about divorce. Most of the information and advice you get from friends may be misleading. Every divorce has its own set of issues and is different. If divorce happens, approach it with a willingness to work with your spouse for the benefit of your children. You may also consider alternatives to court in your process of finding for an amicable solution to the problems you are facing.

 

Categories: Law

The Basics of Family Law

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family lawSeparation and divorce is never an easy thing. It becomes even harder when you are dealing with an emotional, financial and legal issues all at the same time. It is very important to hold your heal up during such a time as it can turn out to be highly anxious and depressing. When faced with a separation or divorce, you need to stay calm. You need to rest, eat well, stay active and get social support from your friends. Let us look at some basics of family law that you ought to know.

 

Family Law

The dynamics and makeups of today’s family life are becoming more complex. If you are facing issues relating to separation and divorce, or other legal issues relating to children, it is very important to seek counsel on matters that affect your rights and obligations. When it comes to divorce, you have to understand that it can only be granted by a district court. This happens upon filling of a legal petition.

A spouse is someone in a married or common-law relationship. Two are considered a couple if they have lived in a marriage-like relationship for two or more years. At the end of the relationship, each of the couples has their legal rights and responsibilities. The only difference between married and common law spouses is the process involved in separation. For married spouses, they have to apply for divorce is they no longer wish to be married.

Care of Children

Parents are held responsible to care for their children. They must make parenting decisions that are in the best interest of the child. As a parent, you act as guardian to your care and you are supposed to offer your child full care. In case of a separation, you need to come up with an agreement on where and who will be staying with the child. You also agree on when the child will have time for the other parent.

 

Child support

Child supportParents are required by law to support their children financially. On parent pays the other to help cover the needs of the child. In addition to the basic needs, parents have the obligation to pay for special and extraordinary needs that a child may need from time to time. These are issues such as music festivals, lessons, school field trips among others.

 

Spousal support

Spousal support is money that one spouse pays the other at the end of a relationship. It is very important to understand that spousal support is not an automatic requirement for either spouse. One spouse needs to show that he or she was financially damaged or disadvantaged by the relationship, and thus the need for financial support. A judge will most likely offer spousal support if there was a long-term relationship, there was a great difference in income and if there was an economic disadvantage as a result of the relationship.  Last is the issue of property division. The things that you owned before the relationship are kept intact and not subdivided. However, if there was an increase in its value, its value is split 50-50.

 

 

 

 

 

Categories: Law