Read our article about the keys to getting your sales people on board with a proven process to drive your pricing plan forward. Excerpts of the article follow. “the deck is stacked against you from the start” The sad truth is the deck is stacked against you from the start. Customers are constantly pushing backwards […]
Many insurers have embraced analytics and have made great strides at leveraging data and analytics to solve pricing issues. However the industry has largely ignored other opportunities to increase customer engagement and loyalty and have missed lessons from other sectors that have successfully used analytics to drive the revenue side of the equation. The insurance […]
A decision by the Competition Bureau means retailers will now be able to lower prices of e-books. The bureau said it reached a deal with four major e-book publishers on Friday that forces them to drop their practice of stopping retailers from offering discounts on e-books. The publishers have to ditch the practice in the […]
When Finance Minister Jim Flaherty introduces the federal budget tomorrow, it will be just over a year since the Senate national finance committee reported on how he could help nudge Canadian prices closer to what they are south of the border. Flaherty hinted strongly last week that he would do more to narrow the Canada-U.S. price gap, […]
Feb 6 (Reuters) - If anyone knows a thing or two about buying roses, it’s John Sullivan, a man who’s given his wife Sally roses on every Valentine’s Day for more than 40 years. Sullivan, 68, a buyer’s real estate agent from Cheverly, Maryland, tackles the annual price run-up by getting his blooms at the […]
Very few practitioners have discovered cost consciousness. Yet, of all the client service attributes measured in Beaton’s research studies over the last decade amongst thousands of clients of professional services firms of all types, cost consciousness stands out head and shoulders in its importance – and neglect by practitioners. Cost consciousness is a ‘missing link’. […]
What you charge for your product is simultaneously one of the most complicated and most important things to get right. Not only does your pricing model keep you in business, it also signals your branding and positioning. And it’s harder to iterate on pricing than other elements of your business. Once you set a price, […]
…The value of a concert experience is reasonably understood. You pay high prices and get one or two bands performing in a stadium for two hours. Instead of lowering prices, the Stones could have increased the real and perceived value delivered by providing a free gift with purchase (high perceived value with low actual cost), more product […]
Execute Your Plans with Courage, Not Hubris | Strategic Pricing Solutions
If the team has identified certain products as being superior to competing alternatives, and has quantified how that superiority creates value for customers versus the alternatives, those products should have higher prices than the competitors’. If that means raising some prices more than expected, so be it. If the team is afraid to execute the […]
Customer Value: The Price of Paradise | Strategic Pricing Solutions
Earlier this year, my wife and I moved to Florida. With year-round nice weather, palm trees and white sandy beaches, it seems like Paradise. Last week Hurricane Irma came through and reminded us of the true price of paradise. It also reminded me that buyers make trade-offs in every purchase decision, and your pricing strategies […]
Segmentation Is a Critical Part of Channel Management | Strategic Pricing Solutions
The challenge that Under Armour is facing is the exact reason most luxury brands limit their channels to high-end stores where shoppers are not price-sensitive. If the luxury brands want to target more price-sensitive customers, they develop new products or brands that do not have the same cachet or premium pricing. By doing so, they […]
Lower Concession Prices May Backfire | Strategic Pricing Solutions
The Atlanta Falcons have established a new concessions pricing strategy for the coming season, and they will have the lowest prices in the NFL. They are lowering most prices in an effort to be more fan friendly. I am not a scrooge, but I think it is a bad decision. At best, they will make […]
Focus on the Segments Before Lowering Prices | Strategic Pricing Solutions
Last week there was an article in the Wall Street Journal, So Long, Hamburger Helper: America’s Venerable Food Brands Are Struggling which discussed the declining market shares of some of the largest packaged food companies. It is not a surprise; the large CPG companies have been losing customers for the past few years on multiple […]
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