In business today, you hear the term data-driven decisions, but do we understand what that means? As business owners or people working for a company, we must realize that all decisions must be supported by some information to make sense- i.e.,…
Continue Reading
Price Elasticity within the Cosmetic Surgery Industry
Price elasticity (Links to an external site.) refers to how changes in price affect the demand for a product or service. Price and quantity demanded hold an inverse relationship; thus, the price sensitivity of an item depends on whether the product is…
Continue Reading
Calculating Margins with Botox
Price margins is a pricing strategy that can be used to calculate a business’ prices. Since all businesses aim to make a profit, setting prices is as important as finding the optimal mix of products and services to meet the…
Continue Reading