What Does a Pricing Analyst Do?

Pricing a product, commodity or service is a specialized skill. The job of a pricing analyst is to understand market conditions perfectly and help in deciding product prices. In today’s competitive business world, pricing your product correctly has become very important to outdo competitors. The interviews for these jobs are tough, as companies prefer to recruit top talent for such jobs.

Job Description of a Pricing Analyst

Pricing analysts help in deciding the prices of the products of a company for which they work. For this, they have to consider many factors such as the nature of the product, prices of goods of competitor companies, and the paying ability of the consumers. These analysts have to find out how much a consumer is willing to pay and what service he expects by conducting intensive research.

He has to determine or find out which are those products, for which the consumers are willing to pay a higher price and what are the exact reasons for that. They need to be aware of price trends prevailing in the market. For the purpose of research, they also refer to historical prices and data about the prices of commodities under different market conditions, to arrive at correct conclusions. They work closely with the marketing team of the company.

Educational Qualifications

For becoming a pricing analyst, you ideally need to have a college degree in subjects such as mathematics, economics, marketing or statistics. With the help of a degree in these fields, you will be able to enter this field quite easily. The institute from where you complete your course matters a lot when it comes to securing the best jobs in the industry.

With a master’s or doctoral degree in the above subjects, you can get the most coveted jobs in this field. Most

Break Even Analysis Formulas

What does breaking even mean? The break even point is where the total revenue on a product/service is equal to the total cost incurred. Let me explain this concept with the help of a simple example. Suppose it takes $10 to make a chocolate cake, the price at which the cake business will break even will be at $10. Simply put, it’s the point where the cost of manufacturing = selling price.

In terms of pricing, the break even point shows the no-profit-no-loss position. So if you decide to price your product below the point, then you will incur a loss. On the other hand, if you price your product above the break even point, you will earn a profit. Thus, the break even point is very crucial as in a way, it helps form one of the important bases of product pricing. It also helps you decide if the product is worth manufacturing. For example, if it takes $100 to manufacture a product, but your market research suggests that the people aren’t ready to pay a cent over $56, you know that unless you can somehow achieve a breakthrough decrease in the price over a period of time, there is going to be no point in trying to sell such a commodity.

Break Even Calculation

Before we try to calculate it, we should know the meaning of some terms that are included in the formulas.

Fixed Costs: For running your business, there are some costs that you will incur, irrespective of your productive capacity. Some charges such as rent, depreciation of machinery, etc, you incur, whether you produce or not. Such costs are called fixed costs. As long as the productive capacity stays between a particular range, (example: unless you have to double the production area and

Online Shopping Trends

Online shopping―what was once frowned upon has now managed to gain acceptance with open wallets! Yes, while in the past we hesitated ordering things online, and most importantly questioned the safety of letting out our credit/debit card details on the Internet, now due to the safe and secure online market, the skepticism has vanished to a great extent. A recent study done by eMarketer confirms the truth of this statement. Their analysis predicts the growth of online sales in the United States to USD 434.2 billion by 2017, from USD 225.5 billion in 2012.

The year 2009 saw an extraordinary trend. While most industries suffered significant losses due to recession, the U.S. saw a significant rise in online retail of 11%, according to a report by Forrester Research published in March 2010. This just shows the popularity of the trend of online shopping in the past few years.

Online Shopping: From a Luxury to a Trend to a Necessity

The 90s proved to be historical for Internet shopping when the world was introduced to the ‘World Wide Web’. The pioneering online shopping sites such as Amazon and eBay were launched in 1995, and they still continue to reign the kingdom of online retail market. Among the initial steps in Internet selling was the selling of books. What started as a trial-and-error strategy―with many people wondering the feasibility of the success of web shopping―today, has become a revolutionary industry worth billions!

With the consumer population becoming more and more tech-savvy, and with the technological excellence that has led to safe, secure, reliable, and satisfactory online transactions in the recent past, most people prefer to avoid the chaotic crowd of shopping malls, and opt for shopping from the comfort of their homes.

The Internet was once an option, and is now a necessity. Likewise, the virtual market

Advantages and Disadvantages of Internet Shopping

You open the latest edition of Vogue on your way to office and browse through all those eligible wardrobe additions. Suddenly, you land on these awesome pair of Gucci pumps that you immediately fall in love with. You check for the code and the item number, and surf the Internet with it. You like them better in the color blue. You check the price and it seems just perfect for those perfect pumps. You check the stores in your city and hope just one store would sell these. To your disappoint and the brands’ as well, there is no store that would help you. However, there is one store in the next state that would still have them in stock. What do you do now? You shop for them via the Internet. Simple! Since it’s so simple, there are more and more people shopping on the Internet. The increase in these online shopping trends brings us to the advantages and disadvantages mentioned below. As you continue reading, you will come across some problems you must have experienced on your own. It is these problems that need a solution to make Internet shopping one of the best ways to shop.

Advantages and Disadvantages of Online Shopping

There is nothing that could ever put an end to Internet shopping, and there is just one reason that people will continue shopping via the Internet, irrespective of the drawbacks. The human need to satisfy a want is stronger than we think. Just like those Gucci pumps made you buy them, there are many others too. When you want something and know you can have it through the Internet, if nothing else, so be it!

Advantages:

Yes, it is an absolute relief to shop sans those irritating vendors. I have nothing against vendors,

How to Shop for Clothes Online

All of us have come across those beautiful dresses which are displayed in advertisements on websites on the Internet, haven’t we? The prices listed below the dresses not only amuse us, but also tempt us to buy them as soon as possible. These clothes are indeed one of the hottest selling items on the Internet, aren’t they? However, before temptation takes over, there are a few things you need to educate yourself with. There are a million websites all over the world that sell clothes online, so how do we choose the best? It’ll take us years to list all the websites that are considered authentic and diverse in their collection. The good news here is that you don’t need to look at so many websites. You can look at one website and judge it for its authenticity. Only and only if you think it’s not worth it, you can move on to finding another. The tips mentioned below will tell you how to shop for clothes online without risking your money and your expectations out of the bargain. Let’s check them out!

What to Keep in Mind While Shopping Online

Prerequisites
Buying clothes on the Internet has its prerequisites such as the knowledge of your physical statistics. You cannot possibly buy clothes off websites without knowing these. This is the basic information you should possess while shopping for clothes online. Again, it’s advisable for you to ask somebody else to take these measurements as that is how they are normally taken. If you take your measurements yourself, chances are they won’t be perfect as you would have to twist your body a few times to check the exact number of the tape.

Choosing
Choosing the right website should be your next task. Like I’ve mentioned before,

Hottest Selling Items on the Internet

It was not long ago when the concept of eCommerce websites came into existence and it created a new legacy of its own in the seemingly infinite world of cyber space. Internet advertising, marketing, and most importantly, Internet shopping, redefined the fundamentals of Internet surfing. Nowadays, website analytic statistics show millions of netizens glued to their computers, purchasing products online. Internet biggies like Amazon, eBay, and Craigslist have created a legacy, for sure.

If you read about the history of Amazon and eBay, the topmost online retailers, you’ll realize that it just began with the concept of selling something on the Internet. The idea was simple, and comfort in selling and buying without having to go out seemed amazing. This simple idea of Jeff Bezos (Amazon founder), has now transformed into a huge company, Amazon.

Books
Millions of books are sold online every year, and it is one of the most sold items online. Books have been among the top selling products on the Internet for as long as online transactions have been going on.

Computer Hardware and Software
Computers are purchased and sold daily, in bulk, in the US. Even someone who has used a computer or a laptop for sometime, auctions it on the Internet, and believe me, buyers are always there.

Fashion Apparels
The online apparel industry gained a major boost in the recent years, and people have started buying items on the Internet. Women have been especially more active in online shopping than men, when it comes to fashion apparels.

Video DVD Movies
One of the most positive aspects of making money online through Internet shopping is that if you capture the right market and can continue to target the right audience, you can make good money. For instance, generally, it’s not an easy task

Where to Buy Cheap Stuff Online

In this economic turmoil, almost every single person in the US is apprehensive about taking out the big bucks for shopping. The economic recession was treated more like a lesson, and less like a disaster, which has made the average American smart and cautious about spending his dollars. Rather than going to shops and buying products on MRP, using the Internet for shopping is a much better and cheaper option. This article talks about online shopping, and also tells you the best sites to shop.

How to Buy Cheap Stuff Online

Every day we get at least one headline in the newspapers which tells us how bad the economic condition of the country is. Times are tough and the economy is stagnant. In such tough times, you have to cut down on your expenses to make ends meet. So, the most common question arising in everyone’s mind is, where to buy cheap stuff? There are two ways that you can buy cheap stuff, run from store to store in search of a sale, or shop online.

Most of us know that we can buy certain items cheaper online, and also have stuff delivered at our doorstep. When you browse through the Internet, you will find a number of online retailers who are selling all your favorite products; this makes the selling more competitive and prices are slashed even more. There are several ways where you can shop online for low prices. Log on to Google and you find a list of retailers who are offering your favorite products at the cheapest rates.

Where Can I Buy Cheap Stuff Online

The Internet is a wonderful way to explore the world. It not only gives you information on various topics from all around the world, but also saves your money by offering you the best deals on

Best Selling Online Products

When we speak of the best selling products, it is important to remember that not all of these can fetch you large amounts of money. By studying most online shopping trends and auction sites, you will find that books and DVDs are probably the bestsellers, but the chance to make a lot of money through these is virtually impossible. The reason for this is that the buyer may have limited choices for these when he is searching for it online, so he would rather go to a bookstore or a music store and pick out a new item of his choice. He ends up spending a few extra dollars but for him it is worth it. Why then, are these items still the most selling products on the web? Simply because they are easy to sell and ship. And no matter how illogical it is to carry out Internet shopping sometimes, there will always be a buyer. The volumes are extremely large doubtlessly, but the revenues are minimal.

List of Top Selling Products

Here are some of the most popular items that regularly change hands over the Internet. The buyers get these things to sell online cheaper than they would in the market, but the disadvantage is that there are no assurances about the quality and the state of the item in question.

1. Books and magazines
2. Computer hardware
3. Computer software
4. Apparel and designer clothes
5. Video games and toys
6. Cosmetics and health-related items
7. Consumer electronics
8. Music DVDs and CDs
9. Jewelry items
10. Office supplies and equipment
11. Home decorating items and linen
12. Flowers
13. Sporting goods and items
14. Shoes and footwear
15. Small electronic appliances
16. Tools and garden items
17. Gifts and other items

If you wish to make some easy money over

Tips for Safe Online Shopping

Not just the trend of buying goods and availing services online, but even the frauds associated with it are on rise. Technological advancement has given a major boost to e-commerce and other similar concepts, which revolve around computers and, more importantly, the Internet. The concept of online shopping is no more alien to anybody in the world.

Millions of people log onto shopping websites in order to make shopping a convenient affair. What they fail to understand though, is the fact that they are compromising on their security by not abiding by the rules that they need to follow. With so many cases of online frauds coming to light every other day, it is surprising to see people go on an online shopping spree without paying heed to their security.

Online Shopping Safety Tips

Online shopping fraud is a broad concept, which includes a range of activities, right from hidden charges and phishing to credit card scams and identity theft. Given below are some simple precautions that you can take to keep yourself safe.

Carry out your transactions from a secured PC: You need to make sure that the PC you are using for shopping online and related transactions is up-to-date with security measures, like anti-virus software and firewall. Being one of the most important advice as far as safe online shopping is concerned, this will help you keep those malicious programs out of your transactions.

Be well-versed with the website you use: You need to make sure that the website from which you are buying goods or availing services is authentic. Never go to random sites that feature in search engine results, or ones that you have never heard of before. Always go for popular websites, as the chances of you getting caught in any sort of web

Maintaining Privacy While Shopping Online

You may not be aware of it, but there is currently no legislation that requires website owners and sellers to maintain the privacy of site visitors who shop online or order merchandise from them. Because there are no laws preventing it, sellers are free to collect your name, address, information about the websites and site pages you visit, what types of products or services you buy, what time of day you shop online, the address you ship items to, what shipping service you use, and even how much you typically spend on an online purchase. Sellers may use the information they collect about purchasers by selling it to other companies or sharing it with affiliates. As a result of losing this private information, you will most likely receive more direct-mail marketing, spam e-mails, and/or telemarketer calls.

Losing privacy is a major concern that consumers are worried about in terms of shopping online. In response to these concerns, government regulators are encouraging website sellers to clearly state on their websites what their privacy policies are, and how they will use information gathered from buyers. If you visit a site that does not have a posted privacy policy, you should think twice before placing an order with that site. A privacy policy should include the type of information the seller will gather based on your transaction, and how the seller is planning to use the information gathered. A privacy policy should offer you the option to decline acceptance (‘opt out’) of these policies. If you want to opt out, you should read the privacy policy thoroughly and look for instructions about how to opt out of accepting the policies.

But having a privacy policy posted online doesn’t necessarily protect you and keep your information private. Although you may