Retail Pricing Strategies, Part 4c: Loyalty and Ethics
For this series on pricing strategies, we have analyzed the historical perspective on the development of retail prices, finding your own “magic formula”, and looked at the individual considerations that should be a part of that formula (e.g., warranty, invoice cost, accessories, cost-of-living adjustments). For the past few posts we have been discussing the ethical…
Read MoreJust in time for AudiologyNow: OtoGeeks!
So, here I am in Boston waiting for the 24th Annual AudiologyNow, doing my work sabbatical and catching up on old projects. I discussed this concept a few weeks ago, a practice I started several years ago in order to actually complete the goals which never seems to happen when I’m in my office. For…
Read MoreRetail Pricing Strategies, Part 4b: Loyalty and Ethics
This series of articles on pricing strategies has analyzed the historical perspective on the development of retail prices, discussed finding your own “magic formula,” and looked at the individual considerations that should be a part of that formula (e.g., warranty, invoice cost, accessories, cost-of-living adjustments). Two weeks ago, I began the topic of using manufacturer…
Read MoreRetail Pricing Strategies, Part 4a: Loyalty and Ethics
Just to review, in part 1 of this series I reviewed my own personal history in the development of sound retail pricing strategies that would best serve my practice and my patients. In part 2, I discussed finding the right “magic formula” and the various formulas I had seen other practices use, including the possible…
Read MoreInterlude: The Work Sabbatical Concept
I’d like to take an interlude this week from my series on pricing concepts to share a concept that, while not unique, is something that those in private practice should seriously consider: the work sabbatical. I started taking work sabbaticals several years ago. At AAA in Salt Lake City (2004) I met a guy named…
Read MoreRetail Pricing Strategies, Part 3: Making Everything Count and Counting Everything
Before we get started, I want to note that in the course of writing this post I kept stumbling across ideas for future posts (those “a-ha!” moments). For the fun of it, I’ll throw in a few number signs (#) indicating those moments, and if you’re interesting in my pursuit of them, please send me…
Read More