How to Innovate in Marketing (Collection), 2/e

35. Analyze Price and Profitability by Product and Service

Working with companies both large and small over the years, I have noticed that a lot of time and attention is invested in developing marketing strategies without fully understanding the internal costs and profitability of the products or services being sold. It’s surprising—shocking, actually—that so few business professionals understand their costs and margins. In Section VI, “Execute and Evaluate,” we will explore new, more efficient methods of budgeting and forecasting that are cross functional across operations, finance, marketing, and sales. For now, let’s make sure we have at least the basics in place.

The purpose of the exercise is to help you understand how you can increase ...