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Tag: Perceived Value

How retailers can improve price perception–profitably | McKinsey & Company

How retailers can improve price perception–profitably | McKinsey & Company

New methodologies, powered by big data and advanced analytics, can help retailers attract value-conscious consumers without sacrificing margins. As retail executives know all too well, most pricing decisions require a trade-off between margin and price perception. To avoid a “race to the bottom”—the self-defeating exercise of trying to beat every competitor’s price on every item—retailers […]

Incremental Investments in Pricing Yield Big Returns| Strategic Pricing Solutions

Incremental Investments in Pricing Yield Big Returns| Strategic Pricing Solutions

All companies want to improve their profitability and deliver more value to their shareholders, but the best ways to do that are often debated. Pricing is the most powerful lever available to companies striving to improve profitability, but how to effectively use that lever may be unclear. Over the years we have talked with many […]

Pricing Strategies for Multiple Personalities | Strategic Pricing Solutions

Pricing Strategies for Multiple Personalities | Strategic Pricing Solutions

I have been watching the Game of Thrones the past several seasons. I love the rich scenery, the diverse range of characters, and the intriguing, suspenseful drama. A recent episode about the Many Faced God got me thinking about customer types. In particular, it got me thinking about customers with multiple faces or personalities. Some […]

Product Positioning – Good, Better, Best | Strategic Pricing Solutions

Product Positioning – Good, Better, Best | Strategic Pricing Solutions

We have written many times before in our blogs and newsletters that customers are not all equal.  They have different needs, they value product attributes differently, and they have varying levels of price sensitivity.  In order to address these multiple customer segments, it is common to have multiple variations of a product or service offering […]

Video: Volkswagen Passat – The [Lemonade] Stand | Volkswagen

Video: Volkswagen Passat – The [Lemonade] Stand | Volkswagen

A fabulous car commercial that covers perceived value, customer segmentation, and dynamic pricing. It uses the proven pricing training ground of the lemonade stand pricing problems.  VolkswagenCanada Passat owners beware: People will think you paid more than you did. Starting at just $23,975, the Volkswagen Passat comes with standard features (18″ alloy wheels, Kessy Keyless access and […]

Article: How a poor pricing strategy left the Rolling Stones with no satisfaction | Financial Post

Article: How a poor pricing strategy left the Rolling Stones with no satisfaction | Financial Post

…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 […]