Segmenting customers by prices they are willing to pay, showing the value of the product or service to charge higher prices and being careful when applying discounts are some of the recommendations from experts to avoid losing money.
Ariel Banos, founder of Fijaciondeprecios.com explains some of the myths that exist among business leaders when building a pricing strategy, and what could be the alternatives to not lose money.
In a context of falling international prices, increasing production and improving efficiency are the main objectives of Guatemalan sugar producers for the 2019-2020 harvest.
Official figures detail that during the 2018-2019 harvest the production of sugar in Guatemala reached 2.9 million metric tons, and for the current harvest that has just begun the harvest of a similar volume is projected.
The growing tendency to order food from home through digital platforms is causing a decrease in business profits, as they must assume the cost of service delivery commissions and sometimes those of additional promotions offered by the applications.
Digital applications such as Uber Eats, Hugo App, Go Pato, Glovo and Rappi, which offer in Costa Rica the service of home delivery of food and other items, have gained much popularity among consumers, so restaurants have had to adapt their internal processes to this new trend.
Guatemalan producers report that their profit margins have been reduced because the threat of the Fusarium R4T pest has forced them to increase their spending on phytosanitary measures and crop biosecurity.
The prices of construction materials in Nicaragua have reported increases in recent months, but because of the crisis in which the country finds itself, businessmen have chosen to assume these costs and not pass them on to customers.
Applying segmentation techniques, making comparisons with the prices of other products, and applying discounts to customers who have eco-friendly practices are some of the strategies that can help maximize the sales profitability.
Ariel Baños, a price management specialist and founder of Fijciondeprecicios.com, explains how simple techniques completely applicable to any business can be turned into intelligent and creative pricing strategies to maximize profitability.
Because not all customers value the same proposal equally or are willing to pay for perceived benefits, sometimes the same product can have multiple ideal margins.
Ariel Baños, price management specialist and founder of Fijaciondeprecios.com, explains how there are myths about the "ideal margin" and what are the ideas to overcome these misperceptions.
The entities of the International Banking Center of Panama generated during last year profits of $1.582 million, 4% more than reported in 2017.
The Superintendence of Banks of Panama (SBP) specify that during the last two years the profits of the 84 banks that operate in the International Banking Center (IBC) of Panama, grew by $70 million, going from $1,782 million in 2017 to $1,852 million in 2018.
Because of the slowdown in the issuance of loans, in 2018 the profits of banks in Costa Rica grew just 3% over what was recorded in 2017.
Figures from the Central Bank of Costa Rica show the deceleration reported in loans granted during the first nine months of last year, detailing that up to December 2017 the credit portfolio to the private sector registered an 8% year-on-year increase, while the indicator concerned up to September 2018 dropped to 5%.
The new tax reform proposal being discussed in Costa Rica raises capital gains tax from 8% to 15%, and also excludes recognising as a debt deposits made by issuers in the securities market.
In the view of the National Stock Exchange (BNV), not recognizing deposits made in the stock market as debt leaves it at a clear disadvantage, compared to banks, as a source of financing for companies.Not only does it compromise access to investors' savings, it also significantly limits companies and individuals investment options.
On average, companies in the region pay 45.8% tax on profits, while companies in OECD countries pay 41%.
From the study Evolution of the fiscal situation in Central America, by the Federation of Chambers of Commerce of the Central American Isthmus (FECAMCO):
FECAMCO has carried out a study with the objective of showing the fiscal situation in Central American countries and raising awareness in governments about the efficient use of taxes that are collected from the payment of citizens to guarantee solvency of the states.
Farmers insist on a reform to the law so that they receive an additional payment from part of the revenues generated by the mills from the sale of surplus energy.
The eternal conflict between cane growers and industrialists over the use of cane bagasse in power generation remains unresolved.The Association of Producers of Sugar Cane (Asprocaña) is proposing reforming"... Articles 2 and 39 of the law in which there is talk of the distribution of income between mills and producers, so that the latter receive a share that corresponds to them for the raw material."
A study planned by the Ministry of Economy on the costs of production and marketing of sugar, could help resolve the conflict between sugarcane cultivators and agro industrialists.
Sugarcane farmers continue to demand that they receive an additional payment as part of the revenues generated by the mills from the sale of surplus energy produced.A study that the Ministry of Economy announced that it will carry out, will allow an analysis to be made of the costs of production, consumption and marketing of sugar and honey, and the generation of energy through bagasse.With this study, it will be possible to determine if a reform is necessary to the Law on Production, Industrialization and Commercialization of the Sugar Agroindustry, as proposed by sugarcane farmers.
A study requested by the union will determine how sugar profits should be divided between producers and industrialists, providing information for a law reform.
The information derived from the study, which according to the Salvadoran Sugar Industry Council, is being undertaken by the FAO, could solve part of the conflict over the distribution of profits between manufacturers and producers.
A bill already approved in Legislative Commission intends to increase the tax paid on income from investment funds from 5% to 8%.
The bill leaves unchanged income tax paid on the profits generated from real estate development funds whose projects are"... popular housing and middle income housing, and those of environmental interest and public works."These will still only incur the rate of 5%.
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