What You Need to Know About Price Bundling Strategy

Price bundling is a pricing strategy where companies including towing service leesburg va package separate products or services together then offer them at a single, and typically reduced price. Bundle pricing is essentially common across different industries, especially those in retail. It involves having multiple products offered as a package at a price that is lower than the sum of purchasing each item individually. Take an example where when you want Microsoft Products, instead of getting PowerPoint along, you get a full office that comes with other applications such as Excel, Outlook, Word, among others, all included in a one-time purchase.

A bundle pricing strategy will normally fall into two categories, which are pure price bundling and mixed price bundling. Let’s have a look at each of these two;

Pure price bundling

This is a strategy where the seller only offers specific products as part of the bundle. Else, the products that compose a bundle lean on one another to such a point that they have to be sold as a bundle. In many cases, this bundling option applies to products that are tethered in terms of quality. An example is how a video game console typically comes with one or more controllers when purchased for the first time. In this case, you can’t use one product without the other. It makes no sense at all to sell the system without giving customers the ability to use it.

Mixed Price Bundling

Mixed price bundling is a practice where a business offers items both individually and within a bundle at a reduced price. Generally, the items that compose a bundle can still stand on their own. These products would still be useful without the support of any other product, but often complement or enhance the other items they are bundled together with. Mixed priced bundling has a prominent presence in fast food industries through value meals. You would find a different form of bundles especially in fast foods, where you get an offer when you buy all meals together.

Before you can implement a price bundling strategy, it is important you weigh on the pros and cons of the same, and put your prices in such a way to avoid losses.

Price bundling comes with its share of cons. It presents a unique opportunity for companies to offload some of their less popular products. It can be quite challenging for businesses to sell some of their less favorite products not unless they introduce a bundle. A well-executed price bundling strategy can help businesses unload any kind of inventory as well as offloading any product that is slow to move.

There should be some cons as well. There is cannibalization of products contained within the bundle. In some instances, the profit margin for one of the products in the bundle might be significantly larger when brought individually. Additionally, if a store doesn’t accurately anticipate the popularity of the bundle, it might see an influx of customers, leading to little revenue or in some cases losses.

Types of Personality Tests to Help Learn About Your Team

Personality tests are undeniably useful tools used for creating stronger and more efficient teams. Towing company and other businesses use personality tests to learn about their teams, communication styles, preferred feedback, and ways to modify your attitude towards different personalities that might clash with yours.

We have come up with a list of personality tests to learn more about your team members. Here is what you need to know;


This is one of the oldest personality tests available. Essentially, the Myers-Briggs Test separates people into 16 categories of personalities and provides insights into general strengths and weaknesses, as well as desires and ambitions, communication styles, and how people perceive the world. You might find your manager to be INTJ which can be described as skeptical and independent with high standards of competence and performance.

Disc Assessment

The Disc assessment determines where you lie as far as Disc factors are concerned which are domination, influence, steadiness, and compliance. It is one of the most popular and authoritative career assessments out there that companies use and you should encourage your employees to use it. This form of assessment can help your team members become more self-aware of other intrinsic motivations as well as other areas of conflict.

Holland Code Career Test

This is a 10minute questionnaire that measures your interest in six major areas and provides potential career paths based on your interests. The test can help the manager provide appropriate career guidance depending on the workplace of an employee. It can be very beneficial to employees in defining a career path that would most likely make them the happiest. Ultimately, the test is meant to help the employees learn about their professional motivations and aptitudes before you can match them with the roles that are best suited for their strengths.

The 5 Minute Personality Test

If you just have a few minutes to spare, this can be a fantastic and speedy test to help you in learning about your strengths and weaknesses and how they can be applied to the workplace. After you are done filling the workplace, you simply add up the numbers to figure out which letters (L, O, G, B) represent your dominant personality test. These letters can reveal your natural workplace strengths and weaknesses, as well as how you should be responding in most situations. These letters can include information such as motivation, communication, and decision making styles.

The 5 Love Languages

This is a less used test, but more likely than not, the 5 love languages are the test you will be a little bit surprised to find here. It can be very useful in figuring out your romantic partner such as gifts or your best friend’s needs quality time as well as ways you can use this test in a professional capacity. Love language will help you in understanding the unique ways your team members accept feedback and how they form close bonds with others. Ultimately, personality tests help you in uncovering your hidden motivations or perceptions of situations.

Common Types of Customer Complains and How to Resolve Them

Your customers present you with the purest form of quality control. Without their approval, your business will not grow or succeed. When customers are complaining, it is important to hear them out and have their grievances solved. Companies such as Chantilly Tow Truck have continued to offer excellent customer service by listening to their customers. If you can improve customer service by solving customer issues, you stand a better chance to prevent customer churn. No matter the industry you are involved in, you will have to deal with customer complaints. Even when your business is not making any mistakes, you will eventually hit a roadblock that will lead them to your customer service team.

What are customer complaints?

Customer complaints are pieces of feedback that point out problems with your company’s products or services. They present opportunities for your business to improve its internal processes and eventually create a better customer experience.

Here are some of the most common complaints you will have to deal with;

Long wait on hold

If your team works in a call center, the average time on hold is one of the most important call center metrics you will have to deal with. Customers are looking for faster answers and won’t afford to spend their whole time with phones sticking to their ears. Studies show that after two minutes, customers are most likely to hang up. To avoid losing a large percentage of your customers ensure your call center implements automation. Provide your service team with different features to streamline their operations and complete tasks automatically.

Out of stock products

It is usually a good sign when your products go out of stock. However, if you stay out of stock, your customers will be frustrated and become impatient with the whole process. They may demand you make a special order or they will repeatedly call for product updates. From the customer service perspective, you might not have a lot of say on new shipments for products. However, ensure you fully report such issues to your managers and product management teams so that they can take action.

Repeating customer’s problem

Customers hate repeating their problems to your reps. This normally happens when they are transferred to new reps or when they are dealing with an agent who is not paying close attention. When customers have to describe their issues multiple times, it becomes very frustrating. One of the best ways to prevent this issue from happening is by having reps stop transferring customer calls. If you have to connect the customer to a specialist, reach out to the specialist internally and have the issue explained fully.

Poor product or service

When you are selling an inferior product, you will expect your customers to complain. You may also be selling a product that a customer finds hard to use. In other situations, customers may not be a good fit for your products and services. No matter the case, your teams need to know how to prevent customers from turning to your competitors. There is a need to educate customers on how to use a product or service and how to achieve success with the same.

How to Work More Effectively with Global Teammates

The world continues to become more connected than ever. As it battles the adverse effects of the current Corona Virus, it is becoming increasingly important for teams to collaborate and work together virtually. Holding zoom meeting with sales teams managing towing services in Kettering, I got to learn that working virtually is now widely accepted as people embrace the realities of working at home.

As most of us start to work in global teams, we find ourselves running into common problems that hinder the smooth flow of work. Global teams can run through different countries, languages, cultures, and time zones, which brings a lot of opportunities and a fair number of challenges as well.

To ensure you can take advantage of opportunities virtual teams present, here are is what you need to do to promote effective collaboration.


Develop a global mindset

It is important to be open and ready for the differences that can arise between different countries and cultures. When you have this global awareness, it will help in building a stronger working relationship with your colleagues and help towards your success. You need to have an open mindset and avoid any forms of biases and prejudices associated with one region to another.


Be mindful of time zone

It is important to be thoughtful of the in-office times your colleagues have. You will be having different time zones and different holidays. Ensure the devices you use for your work has a world clock widget that displays multiple time zones concurrently. Use the team calendar to keep track of all public holidays across different regions. Schedule emails appropriately so that they can be sent at the right time.


Minimize cultural nuisances

Our day to day life, actions, and language is normally dictated by our social and cultural setting. There are some forms of language acceptable in a certain region yet totally unacceptable in another. When working with global teams, you need to use the professional, official, and universal language that is well accepted. When communicating, ensure your message and phrases are not ambiguous and have only one way of interpretation. Stick on universal times that would ensure everyone can be available for short meetings to discuss key issues, before [people can work on their respective time zones.


Pat attention to details

When you bring people from diverse backgrounds and cultures together, a lot of information must be shared to ensure everything flows accordingly. These people will also have different first names and surnames. Invest your time in learning how to spell and pronounce their names appropriately. On your communication, pay attention to all details to ensure instructions are well captured.


Promote virtual Meetings

Most of the communication around global teams will be non-verbal and it is important to ensure virtual meetings are made to be more visual. Tools such as Zoom, Skype, and Google Hangouts become increasingly important in ensuring the success of virtual meetings. Ensure there is increased collaboration by recognizing success and celebrating culture. Make time for face time and ensure you make other team members feel the sense of togetherness.

How to Run a Successful Hair Salon Business

salonFor us to reach acceptable levels of financial independence, there is need to open small businesses. Opening a small business such as Washing Services in Fredericksburg can change your fortunes. If you have ever dreamt of opening a hair salon business, there is not a better time than now. The salon industry is a growing one and investors who have money have a better chance to making millions now more than ever. While timing might be the right one, you should be prepared for a lot of competition you will face from the industry.

Here are ways to manage and run a successful hair salon business.


Offer exclusive products and services.

Within any given area, you will find many hair salons closely located and all searching for same customers. When competition is stiff, you have to device a way of differentiating yourself. Offer services and products that are unique and exclusive. If you have to sell products to your customers, sell ones that are cheaper, yet high quality and offer value to your customers.


Integrate Marketing

You have to make marketing a central part of your plan. You have to make your customers feel the value of your brand. Set timelines for creating, delivering and exchanging offers that are valuable for your customers. Seeks creating ways of advertising your business, be it running a print ad, social media marketing or traditional forms of marketing.


Identify your niche

NICHEThe hair salon business is highly competitive and very crowded. Due to its competitive nature, you must work harder to offer exclusive services that your clients will love. You must develop a unique selling proposition that defines something different you offer that others don’t have. Unless you have a differentiated and highly specialized service, there is no need for you to advertise.


Develop long term relationship with your clients

This one goes without saying that for you to be in business for long, you must develop a long term relationship by creating loyal customers. Today’s customers want to feel a connection between the products and services you offer. Great companies such as Disney and Apple have mastered this strategy and you too can. You can develop a program that begins with some services, maintains these services, and then offers an enhanced use of related products. Do not sell products to your customers. However, look for creative ways to recommend a path for them to achieve their desired beauty and wellness goals.



You should be very savvy about your prices. One of the most common misconception is that when salons raises their products, they may scare clients. While this analogy may be true on other industries, savvy salon owners understand that raising their prices gives them room to offer more attractive discounts on their promotional programs. You may increase the price of a service by 20 percent, and yet go ahead to offer a 20 percent discount on such a service. In everything you do, you must have an exit strategy in mind.

How to Deal with Business Competition

Business CompetitionSuppose you are in a highly competitive field such as Limousine service. What do you do to establish your authority in your field and keep competition at bay? When consumer spending is slowing down, you need to work hard to defend your marketing position and maintain a competitive advantage. Competition can be good for business, but when it becomes too much, most of the businesses chicken out.

The good thing about competition is that it will force you to innovate and stay ahead of the curve. If you are able to manage competition, then you can face a higher chance of success from profits. Here are notable ways to handle competition in business.


Know your customers

The fact of the matter is that 80 percent of businesses do not have enough data to build an effective marketing campaign. You need to know your customer’s purchasing patterns if you want to succeed. If you know your customers, you can build a relationship with them and this can help in extending the customer lifecycle beyond just a few purchases. You need to have data concerning your customer’s social activities as it can be very important in determining purchasing patterns.


Understanding competition

To understand your competition, you need to start by examining your marketplace. You need to start by taking a look at the things your competitors are doing. There is a need to have some personalized conversations with customers that can lead to conversions. Look at what your competitors are doing and what needs to be done to bridge the gap.


Be different

Be diferentAlways aspire to be different. Standing out and being different can be very important in helping you handle competition in business. After you are done with market research, you need to understand what makes you different from others.  Does it mean you have a more ethical sourcing of products? Does it mean your products are cheaper? What is that you do that makes you stand ahead of the competition?


Be clear in your message

To attract customers, your business needs to be clear in its messaging. Customers want to know what you can do for them that others are not able to do. That is the key reason you will be able to win customers. You need to create a clear narrative that helps in bringing customers to your side. For every message, you have to craft, take into consideration the specific audience you are trying to reach. You also need to be very cautious with every message you craft by ensuring that it fits in line with your audience.


Work on your brand

You need to ensure that your brand is in line with your messaging. Your brand should support all your messaging and leave no room for questions from customers. Accurate branding means that there is a clear messaging that communicates information clearly to customers. You should work on targeting new markets. You need to learn how to handle competition and expand to new markets. You can test waters with new products and try to sell to different age groups.

Inventory Tips for E-commerce Business

inventoryWhen people talk about e-commerce, the main focus is placed on how to create the perfect website as well as social media marketing. While these two aspects play a crucial role in developing a prosperous e-commerce business, there are still other important aspects that require your constant attention to determine the future of your business. One of the main aspects that play a center stage when it comes to e-commerce is inventory. Inventory is at the center of every retail and wholesale business.

If not well managed, what results is a loss of customers and revenue. If you run an e-commerce business where competition is very tough and the budget is very tough, there is no room to make mistakes when it comes to inventory. The good news is that there are well-tested methods and tips you can apply to ensure that your e-commerce business is successful. Here are some recommendations on how to go about it.


Have a positive supplier relationship

Just because you deal with making shopping’s happen over the web, it doesn’t mean you should not aim at creating a good and solid relationship with your vendors. You need to have a very solid relationship with your suppliers as this can help you in getting better prices and staying very competitive. When you have a good relationship with one vendor, you will end up establishing a very stable relationship with other vendors who can help you when things become tough.

Have backup suppliers

You should not always rely on the good relationship you have established with some few suppliers as far as business is concerned. You need to have backup suppliers who can come in handy when stocks turn low. With so many options available today, customers are highly likely to abandon their shopping cart and look for alternative solutions if they are not able to find what they are looking for.


Manage slow moving items

You need to evaluate and manage slow-moving items. To have a healthy management of inventory, you need to keep data at your fingerprints. This will guarantee a healthy selection of products. You need to carry a regular check on how different products are moving so that you can quickly know how to manage slow moving products through discounts. You also need to rotate your inventory regularly. In this world, new products are popping up every day and you should not constrain yourself to products that are outside the trend.





How to effectively manage your e-commerce Business

inventoryThere are many entrepreneurs who have a desire to build a business that allows them to have a lifestyle that enhances and promotes their maximum freedom. Ecommerce is one business that can give you a lot of freedom when running in the right way. If you want to turn an e-commerce store into a big business, the main thing you will have to deal with is getting organized. The potentials of an e-commerce scaling to profitable levels are very high.

Here are top secrets to running a successful store;


Have a centralized inventory management system

No matter how many products you are selling, or the amount of budget you are operating with, you need a centralized inventory management system to organize your inventory. Any successful e-commerce business uses some sort of warehouse management system. The old-fashioned way of doing it is through an Excel template. However, as your business grows, you will need to manage your e-commerce in real time. You can take advantage of free and also subscription based inventory management systems to meet your inventory management goals.

An inventory management system will be very important in helping you with real-time tracking of all your sales and inventory. It will also help you collect data on inventory turnover. You will also be able to sync with your point-of-sale system and other retail software. You will get alerts when the inventory is low or expiring as well as getting reports to manage customer data.


Have an accurate forecast of your inventory needs

You need to have an accurate forecast of your inventory forecast. There are very few businesses that afford to sell the same amount of products throughout the year. You need to carefully manage your e-commerce such that you will never fall short of products. When starting out a business it can be a bit difficult to plan ahead on all the things that will be needed. But if you have the right data, you can merge predictable supply and demands.


Have backup suppliers

As a small business, you will be entirely depended on suppliers. If they are reliable, they will provide you with quality products, consistent and on-time delivery as well as vital tips on industry trends. However, if you have unreliable suppliers, they will greatly hurt your business. It is good to be loyal to your suppliers, but it is always a good business practice to ensure that you have backup suppliers. Relying only on one supplier that be a disaster in waiting.




How Profitable is E-commerce Business

ecommerceIt is always hard to answer the question pertaining to how much one can make out of an e-commerce store. The truth about e-commerce is that there is no limit on the number of sales you can make. It doesn’t matter if you are going to make $10 or $10,000 in a day. The most important thing to note is that as long as you run your online business, you will make sales. The profit you will make out of your e-commerce store will be depended on how you manage your inventory and business.

As long as you are running your e-commerce effectively, you will be able to dictate the kind of profit you will be making. Let me walk you down the thing you need to get in order to make substantial profits.


Generate traffic

Generating traffic is very essential for a successful e-commerce store. It is important that you drive a huge amount of traffic for your e-commerce store. When your e-commerce business has a high number of traffic, there are very high chances that you will be able to transform this traffic into sales. If your store is selling products that are well priced, then it becomes a matter of time before sales start flocking it. Though there is no guarantee that your online store will generate lots of sales due to traffic, but truth is that traffic plays a big role in determining your sales.


Understand how much traffic you need

The amount of money you are looking forward to earning will determine the amount of traffic you need to generate to your e-commerce store. You can make use of drop shipping traffic calculator to determine this number. All you need is to input the amount of money you want to make and the length (in terms of days) it should take to make such amount, then the calculator will give you the figure.


How to generate traffic

web trafficThe fastest way to generate traffic for your e-commerce store is through a marketing campaign. There are many marketing channels that can be beneficial for your business. Each of these marketing channels has their strengths and weaknesses.  Top of the marketing channels you should consider to use include; PPC marketing – which is simply paid per click. It involves a business paying to stand a better chance of generating traffic from a crowded source of other competitors looking for similar traffic.

Platforms, where you can carry out PPC marketing, include; Google, Bing, and Yahoo. These platforms will also give you an opportunity to research the number of people searching for your business. For PPC marketing, you can as well use Facebook and Twitter platforms for your campaigns.

There are other low-cost marketing channels you can use as well. Low-cost marketing channels may not yield as much money as PPC marketing, but they are equally effective in the long run. Some of the most popular ones include SEO and content marketing. You can create a blog and publish insightful content that promotes your business.