forget conventional wisdom and apply intuition after the data is in No-one in business wants to spend any more than is absolutely necessary on marketing. At the same time, everyone in business wants to maximise sales and, ultimately, profitability. Sometimes, these objectives appear to conflict with the aim of reducing marketing and advertising expenditure. They […]

forget conventional wisdom and apply intuition after the data is in No-one in business wants to spend any more than is absolutely necessary on marketing. At the same time, everyone in business wants to maximise sales and, ultimately, profitability. Sometimes, these objectives appear to conflict with the aim of reducing marketing and advertising expenditure. They may even be seen as a sure way of reducing sales.This is the fourth in a series of 5 thoughts examining this perceived conflict and outlining action that can be taken to reduce marketing and advertising expenditure without impacting sales. Two pricing strategies were tested by a billiard table vendor. The fist involved directing customers to tables FROM $329 with tables ranging in price up to $3000. The second strategy involved directing customers to the $3000 table first. Over the trial period, the vendor monitored the impact on the average sale. The results follow: Starting…