Quick Book Summary: Ramping Your Brand is a guide for consumer brands looking to ride the skate ramp of exponential growth. The book focuses on how to scale your CPG Brand by leveraging data-driven strategies, consumer psychology, and market positioning. Above all else, new CPG Brands should take a very close look at their pricing, […]
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Ever wondered why some products can quickly flood the market while others take ages to appear on shelves? That’s where the concept of elasticity of supply comes in. Whether you’re a business owner, an economics enthusiast, or just someone curious about how markets function, understanding the elasticity of supply can give you a new perspective
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Quick Book Review: Profit Flips traditional accounting on its head. Instead of paying expenses first and allocating any remaining dollars to profit, business owners should allocate a percentage of their revenues to profit before a single dollar of expenses has been paid. Profit based on what you can afford today, not where you want to
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Have you ever heard the saying, “Everything happens at the margin?” If you haven’t, you need more economist friends (joking!… kind of). If you have, you likely know they were talking about marginal analysis. In economics, decision-making often revolves around evaluating the incremental changes that result from small adjustments in production, consumption, or investment. This
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Imagine you’re biting into a hot, cheesy slice of pizza after a long day. That first bite? Incredible. The second? Still awesome, but maybe slightly less satisfying than the first. By the time you reach the fourth or fifth slice, you might be feeling full, and the joy you felt at the start begins to
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Diminishing marginal returns is a fundamental concept in economics that describes the decrease in the additional output produced when one input increases while other inputs remain constant. This principle has profound implications for businesses, policymakers, and individuals making economic decisions. Understanding the causes, real-world applications, and consequences of diminishing marginal returns helps optimize resource allocation
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Ever wondered why you’d happily trade a couple of apples for an orange, but then hesitate when it comes to trading more apples for another orange? This seemingly simple decision-making process is at the heart of a fundamental economic concept: the Marginal Rate of Substitution (MRS). Understanding MRS can give you valuable insights into how
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In the world of production and business operations, understanding the concept of marginal product (MP) is essential for improving efficiency and maximizing output. Whether you’re managing a small startup or a large manufacturing plant, knowing how the marginal product behaves can help you make smarter decisions about labor, resources, and production. What is Marginal Product?
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Have you ever planned to buy a small popcorn at the movies but ended up getting the large instead? That’s no accident—it’s a psychological pricing strategy known as decoy pricing, and it’s designed to make you spend more without realizing it. What Is Decoy Pricing? Decoy pricing is a psychological pricing strategy that uses an
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Most investors know that over a long period of time, the stocks that they own will either increase or decrease in value based on the success or failure of the underlying business. Most investors also know that in the short term, there can be wild gyrations in stock prices that can lead to purchasing a
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