In today’s omni-channel world strong pricing controls are critical to capturing value. MAP & MRP policies are examples of ways companies are trying to keep tighter controls on price.
Improving your pricing strategy is a dependable way for your organization to improve its bottom line & profitablity. We discuss several steps on roadmap to strategy improvement.
Leveraging price optimization for long term growth can be a complicated process. We discuss the importance of calculating the value of a long term customer relationship.
It can take years to hone your pricing expertise. We’ve compiled a list of the pricing Learn which skills will improve your overall pricing capabilities and make you a better Pricing Expert
Pricing wars can be costly to your bottom line and your brand. Apply these tips and minimize your chances of a costly battle.
With the announcement of Brexit came many unknowns. We discuss strategies that your pricing department can use to counter the ambiguity and achieve a winning pricing strategy.
Are you making one of the three most common Pricing mistakes we see businesses making? If so, here’s our advice on how to correct them.
Premier League football clubs are in a strong position to maintain price increases. Pricing Solutions applies the 5Cs of Pricing Strategy to see if the League is reaching a tipping point.
Managing price is increasingly difficult and complex for Medical Technology companies. Internal development of the pricing function, organization and skills is a must. Read our thoughts on the state of pricing in the medical device industry…
Many organizations begin their annual pricing process in July in order to be ready to start invoicing Jan 1st. By developing a pricing strategy as part of your annual planning process you can achieve profits well in excess of just taking a uniform increase.
Good negotiation is a commendable talent, but businesses need the skills to deal with good negotiators. Protecting your profitability from good negotiators requires ardent compliance to pricing policies, a flexible pricing infrastructure and the ability to say “no”.
By Paul Hunt – President Pricing strategy is a hot topic these days. Over the past 20 years, we have helped many companies develop, refine or transform their pricing strategy, but today we get requests for help more frequently than ever before. So why the surge of interest now? There are several reasons. Globalization: Companies […]
by Paul Hunt – President Finance Minister Jim Flaherty recently announced his desire to commission a Senate Committee into Canadian pricing. There have likely been a number of triggers for his reaction, but J Crew, a specialty apparel retailer, entering Canada at a significant price premium to its US pricing and subsequent reversal I am […]
It’s no wonder that Fortune 500 Companies are kicking off pricing initiatives at such a tremendous pace. The fruits of their efforts are continuing to make headlines. In last Friday’s Bloomberg’s Business Week there was a prominent article about the gains Goodyear has made by managing mix. Goodyear was facing a US$428million increase in raw material costs […]
by Paul Hunt – President A consultant at Pricing Solutions recently presented some learnings he took away from an IBM conference on the topic of analytics. An important topic was the emerging frontier of using real time data to make real time decisions. From a pricing perspective, how could this level of data analytics move […]
If your segmentation isn’t leading you into a discussion about behaviour, price structure, innovation and offer design, you probably have a large untapped opportunity. Read how segmentation can be the backbone of your pricing strategy.
Competitive pricing is one of the most thrilling and terrifying aspects of pricing – thrilling because it is a high-stakes game, and terrifying because you can get locked into a price war and end up swimming in a sea of red ink. I’ve seen many unnecessary price wars over the years, usually the result of […]
For many lost deals, price was not the factor; perceived quality was the driving force behind the decision. Collect customer feedback and use lessons learned to refocus your service-delivery model and win more deals.
by Paul Hunt – President Here’s a cure for that deadly profit killer ‘price increase rigor mortis.’ Getty Images As commodity costs skyrocket, there has never been a greater need for companies to implement strategic price increases. Unfortunately, many organizations are afflicted with Price Increase Rigor Mortis (PIRM), an insidious disease that paralyzes their ability […]
by Paul Hunt – President If your company’s sales department is in charge of pricing, that’s like putting Dracula in charge of the blood bank! How often have you been in the following situation? You have a premium product with significant advantages over the competition. Year end is approaching, and you are trying to capture […]
by Paul Hunt – President If your client is sipping champagne when they paid for beer, it’s time to establish a pricing strategy. If you haven’t walked away from a piece of business in the past six months, then it is very likely that your company doesn’t have a pricing strategy. In other words, you […]
by Paul Hunt – President Imagine you’re an executive at a chocolate company. For years, the company has relied on a promotion to sell one bar for 79¢, or two for 99¢. Demand for the promotion is huge, even though you charge tax on top of the 99¢. Unfortunately, the second bar now costs more […]