Blogs & Articles

Willingness To Pay – A Lesson From Baseball | Strategic Pricing Solutions

Willingness To Pay – A Lesson From Baseball | Strategic Pricing Solutions

I am a lifelong fan of the San Francisco Giants.  I waited a long time before they finally won a World Series in 2010, and then again in 2012 and 2014.  Of course, now that they have won it a few times, I want them to do it more often; and I pay close attention […]

How to Segment When All Customers Look Alike | Strategic Pricing Solutions

How to Segment When All Customers Look Alike | Strategic Pricing Solutions

Customer segmentation is a simple concept – identify groups of customers who tend to have similar levels of price sensitivity and set distinct prices for each group.  Unfortunately, many companies either think all their customers are the same, or they don’t have enough information to create segments.  In particular, we often see this in retail […]

Is Your Goal Volume or Profit? | Strategic Pricing Solutions

Is Your Goal Volume or Profit? | Strategic Pricing Solutions

If a company is creating a new market or new market niche, it may be important to build critical mass early in the process.  Doing so might enable them to spread their infrastructure costs over a wider base of business.  In that case, it could make sense to use penetration pricing which offers low prices […]

Behavioral Economics Powered by Machine Learning and AI Techniques | Pricing Matters

Behavioral Economics Powered by Machine Learning and AI Techniques | Pricing Matters

There is a growing focus among pricing practitioners to use price science to drive pricing decisions. It’s a fabulous trend with many recent innovations in the use of advanced techniques such as machine learning and AI. It is important however to consider behavioral economics because our economic decision making is often shockingly irrational. Naturally, we […]

Trump Promises Lower Drug Prices, but Drops Populist Solutions | The New York Times

Trump Promises Lower Drug Prices, but Drops Populist Solutions | The New York Times

WASHINGTON — President Trump vowed on Friday to “bring soaring drug prices back down to earth” by promoting competition among pharmaceutical companies, and he suggested that the government could require drugmakers to disclose prices in their ubiquitous television advertising. But he dropped the popular and populist proposals of his presidential campaign, opting not to have […]

Can Tariffs Disrupt Your Pricing Strategy? Short answer: YES! | Paul Greifenberger

Can Tariffs Disrupt Your Pricing Strategy? Short answer: YES! | Paul Greifenberger

Commodity market fluctuations that whipsaw product margins are a persistent downstream pricing challenge. Should you take price now, incrementally, or eat the cost change? What will your competitors do? How many times can you change customer pricing this year? Get it right or you risk locking your margins into that corporate “unhappy place.” If you’ve […]

Pricing: Does Fortune Favor the Bold or the Prepared? | Paul Greifenberger

Pricing: Does Fortune Favor the Bold or the Prepared? | Paul Greifenberger

With every sales bid, there are new data that can be used to improve pricing. Yet, much of this potential remains untapped. Why? Because data gaps and uncontrolled sales cycle data variables are significant roadblocks. Find out how Vistaar’s leading edge pricing practices and price science techniques can help you overcome the roadblocks. It’s worth the effort because […]

Machine Learning—a “Next Level” Pricing Element | Paul Greifenberger

Machine Learning—a “Next Level” Pricing Element | Paul Greifenberger

For a pricing strategy to be truly successful, it must be a “win-win-win” for sales, marketing, and finance. This calls for a revenue and margin balancing act consistently performed over time. Vistaar’s SmartQuote  pricing software enables pricing strategies and tactics to efficiently and rapidly adapt as market conditions change. SmartQuote is powered by advanced machine learning techniques […]

New Year’s Resolutions for Pricing 2018 | Strategic Pricing Solutions

New Year’s Resolutions for Pricing 2018 | Strategic Pricing Solutions

I resolve to: Set prices according to the value we bring to customers, not according to my costs. Use the rich data I have in my transactions and CRM interactions to better understand my customers’ needs, how they react to prices and offers, how their prices compare to similar customers and situations, the reasons we […]

A Post-Christmas Carol | Strategic Pricing Solutions

A Post-Christmas Carol | Strategic Pricing Solutions

Customers are smart, they’re cagey and quick; They know their vendors can be like St. Nick. When quotas are missed in the first period or two, Gifts and discounts for customers old and new. “Hey Dasher, hey Dancer, hey Prancer and Vixen, It’s time for your sales team to be a blitzin’. Come to my […]