Four Tips for Measuring the Effectiveness of Pricing | Strategic Pricing Solutions
We are off and running in the New Year. January is almost over, and it is time to begin measuring how effective your pricing structure and prices have been. Don’t forget – monitor, evaluate and report on the effectiveness of pricing is one of your New Year’s Pricing Resolutions. To be useful to your organization, it is important to have a thoughtful, comprehensive approach to your measurement process. At a minimum, your approach should include the following concepts:
Use charts, not tables. When you only have a few numbers to show, tables work well, but when there are many data points, tables make it difficult to digest the information. As an example, let’s look at a simple comparison of sales, margin, and growth. It is not easy to see the comparisons, and there are very few rows of data.
Read complete article here:
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
