College has started again, and that means many young adults are out on their own for the first time. Family members from parents to great aunts usually start to try to think of something to send to the new students just to let them know that they are thinking of them, as well as sending something that will hopefully be useful and appreciated. Care packages are usually an ideal choice and can contain a variety of items that suit your particular needs.

No matter what product or service a company offers, it must set a price. Pricing is one of the most important yet underutilized business strategies. Appropriate pricing is integral to earning profits as well as a fundamental attribute that customers evaluate when making a purchase.

As a pricing consultant with 20 years of experience, I’ve found that virtually every company commits the cardinal sin of pricing: They set prices by marking-up costs, maintaining margins, using fly-by-the-seat analyses, matching competitors or doing things “the way they’ve always been done.” Sound familiar? While easy to implement, these prices bear no relation to the amount that consumers are willing to pay. As a result, profits are left on the table.