There are various ways to determine price – cost plus mark-up, competitive parity, whatever the market can bear, etc. etc.
Petrol companies seem to have an interesting pricing methodology. They often argue that they base prices on the cost of crude oil, or price in Singapore (from where a lot of petrol is sourced). Not sure how accurate these claims are – because even monitoring these prices, and using various lag effects, it is somewhat impossible to link local prices to oil or Singapore prices.
Over Easter my local petrol stations needless to say increased prices. Obviously they use ‘whatever the market can bear’ pricing.
How does your organisation determine your pricing?
Charity fundraising
Sponsoring and/or promoting various charity causes is a great way for organisations to not only raise funds for charities, but also gives your organisation a positive image.
I recently attended a charity fundraising ball at Shellharbour Workers Club to raise money for breast cancer research. Not only a great night, but lots of money raised.
Does your organisation sponsor any worthwhile causes, or organise any charity fundraiser functions? If not, why not consider it?
Election advertising
Thankfully the State election campaign has finished – unfortunately the Federal campaign will be starting!
In a previous column I discussed the issue of negative advertising – the State election was to a lot of people a contest to determine which party the electors disliked the least. Not the best way to elect government.
The advertising laws regarding elections are somewhat curious. There is a blackout period leading up to election day for television and radio advertisements, but it is OK to keep advertising in print and online. The electoral laws ban advertising via the ‘electronic media’ from midnight Wednesday prior to polling, until the end of polling – but excludes print and internet. Work that logic out!
Following the State election the local newspaper conducted a survey asking people what they thought of the new opposition leader. Based on the responses it seems few voters really know, or care about politics – which is a worry.
Have your say. Click here-> Paul Chad is the Principal of CHAD Marketing Services, an organisation dedicated to assisting individuals and organisations achieve their potential via innovative marketing strategies.
Paul has over 25 years experience working with small, medium and large organisations, both public and private operating in local, national and international markets. He is a Certified Practising Marketer, Fellow of the Australian Marketing Institute and possesses post-graduate degrees in both Marketing and Business Administration as well as being a qualified workplace trainer.
For more information and free initial consultation, contact Paul on 4284-8051 or via chadmarketing.com.au
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