Pricer’s Points: Pricing market research is not always about the price | Bryan Belanger
What we’ve found over the years doing this work is that pricing in the ICT space is often more art than science, and that customer anecdotes about pricing are often as valuable and instructive to pricing strategy as the market pricing data sets produced. Our approach to pricing research is rooted in interviews with representatives of the vendor and enterprise customer communities. Often in conducting these interviews, we’ll uncover that the root issues with pricing, which were thought to be associated with the price itself, are often broader issues – something related to value articulation, market segmentation, packaging, delivery efficiency. These aspects influence the customer experience, create pain points, and ultimately dictate value (which translates back to price).
When we deliver these results to our pricing research clients, the outcomes are often not only a list or street pricing change, but also a re-thinking of a broader pricing, go-to-market, or customer engagement strategy. Clients will utilize customer anecdotes to re-think how they message a product in their marketing campaigns and content, devise a new approach to customer segmentation, or take a hard look at the delivery cost structures and resource pyramid levels that are driving their price position. In design of pricing research initiatives, we encourage our clients to think more broadly about pricing and incorporate multiple organizational stakeholders into the process, as this can uncover true unforeseen drivers of price position.
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Pricing market research is not always about the price | LinkedIn.
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