5 Ways B2Bs Are Using AI to Enhance Pricing
By: Greg Thomas, Vice President of Pricing Research and Insights In our recent article Should You Be Concerned about Price Collusion? we discussed the ethics behind artificial intelligence and pricing. Most people are familiar with artificial intelligence (AI) and machine intelligence (MI), terms that are used interchangeably to describe the [...]
Should You Be Concerned about Price Collusion? – Machine Intelligence
By: Greg Thomas, Vice President of Pricing Research and Insights What impact, if any, does machine intelligence (MI) have on your day-to-day life? Well, when you booked your last flight the price you paid was likely calculated using some form of a machine-driven algorithm. In fact, next time you [...]
What does England’s “Freedom Day” mean for UK Cinemas and Restaurants?
By: Ed Heskins, Director of Pricing Strategy (UK) Last month marked “Freedom Day” in parts of the UK, when the government removed almost all remaining restrictions on its citizens, leaving them free to congregate together, and for businesses to dial-down some of the social distancing measures in place [...]
This Simple Mind Hack Will Give Your Pricing a Fresh Start
By: Kevin McCabe Contact Kevin -Director, Pricing Strategy, Industrial & Manufacturing The start of a new fiscal year is a major milestone in the annual calendar: most companies have already broken their pricing resolutions by summer and won't be attacking them again--at least [...]
Is Tuition Really a Huge Factor for Students?
Our client, a prestigious university in the United Kingdom, was re-examining the pricing of their graduate tuition programs. Over the past two decades, the U.K. post-secondary system has undergone a series of drastic changes, including the 1992 Further and Higher Education Act, which changed funding and administration regulations. In addition [...]
Experience Economy Set to Profit from Renewed Pricing Power GalleryExperience Economy Set to Profit from Renewed Pricing Power
Crisis Management, Experience Economy Pricing, Our Services, Pricing Analytics, Pricing and Selling, Pricing in Retail, Pricing Management, Pricing Optimization, Pricing Solutions News, Pricing Strategy, Pricing Tools
Experience Economy Set to Profit from Renewed Pricing Power
With wide-scale vaccine rollouts well underway, our entry into a post-pandemic world is already a reality for some, and inevitable for others. That's good news for experience economy survivors —those in the airline, hotel, and travel industries, live events, conferences and trade shows, indoor and outdoor venues, etc. However, [...]
The Correlation Between Price and Consumer Preference
This pricing transformation provided $3 million in short-term pricing opportunities, and $10 million in long-term margin improvement opportunities. The client is a private equity company that manufactures and sells retail home design products. These products are sold through big box home improvement stores, smaller hardware stores, and independent home design [...]
How Pricing for EV Charging is Totally Different to Gas Pricing
and what this means for utilities, brick and mortar retail, the hospitality sector, and digital marketing By: Peter Winters, Senior Research Consultant The price for EV charging is complicated Buying gas is typically one of the most price-informed decisions that consumers make. Consumers are easily able to [...]
Leveraging Research to Increase Membership and Revenue Growth
Our client was uncertain how to protect membership numbers, prevent churn, and ultimately grow membership and revenue. The association had been offering a single price for membership. Although the association did discount some services, all were included with membership. The Pricing Solutions team identified that this pricing approach was [...]
Can You Protect Your Business and Clients from Cost Shocks?
The Evergreen, the enormous shipping container that infamously blocked traffic in the Suez Canal for almost a week was earlier this year, but experts say the impact is and will continue to be felt throughout global supply chains. The traffic jam in the Suez Canal isn't solely to blame, of [...]
Using Data to Differentiate Reality from Assumptions
Pricing Strategies for Professional Associations & Non-profits Background Most associations are struggling to retain members, a problem that the pandemic has exacerbated, as they invest heavily to support the shift to digital offerings. How can these associations retain and even grow membership numbers moving forward to justify these sizeable investments? [...]
Developing a Competitive Database to Support Pricing Strategy Implementation
Our client is the largest independent, non-profit standards organization focused on ensuring the global quality and safety of drugs, medicines, and supplements. They collected competitive data through a manual, ad hoc process – which was labor-intensive and inefficient. Our client teamed up with Pricing Solutions to improve its competitive [...]
This is The Most Important Pricing Trend of 2021
The truth is subscription pricing is more than a trend – it's been around for years now and is gaining momentum. Everything as a Service (EaaS) means that everything that used to be available as a one-time payment will now be available to purchase as a recurring payment. There [...]
Do Associations Retain Their Value in a Virtual COVID-19 World?
By: Kevin McCabe, MSc, Director of Pricing Strategy & Greg Thomas, Vice President of Pricing Research and Insights Historically, professional associations have played a critical role in supporting, educating, and connecting their members. With many aging members entering retirement, most associations have struggled to engage younger professionals, a problem [...]
Third-Party Delivery eating costs : 3 Ways Restaurants are Pivoting during the Second wave of COVID-19 GalleryThird-Party Delivery eating costs : 3 Ways Restaurants are Pivoting during the Second wave of COVID-19
Crisis Management, Experience Economy Pricing, Pricing Analytics, Pricing and Selling, Pricing Changes, Pricing Strategy, Pricing Value, restaurant pricing
Third-Party Delivery eating costs : 3 Ways Restaurants are Pivoting during the Second wave of COVID-19
By: Fred Puech, Vice President of Analytics The COVID-19 pandemic has caused extensive and ongoing limits to in-person dining, and with the patio season ending across North America, more and more restaurants are relying on third-party delivery vendors to survive. Popular third-party delivery systems like Skip the Dishes and [...]
Boost Your Pricing Intelligence Effectiveness
By: Kevin McCabe, MSc, Director of Pricing Strategy 3 Ways to Quickly Apply Your Pricing IQ Being able to understand and manage your pricing from sales transaction data can be extremely overwhelming and complex. Once you get control over that, it will be a lot easier to deal with [...]
Insights from The History of Pricing and Mindfulness with Paul Hunt
Recently, Chairman of Pricing Solutions Paul Hunt, had a conversation with Mark Stiving, Ph.D. of Impact Pricing LLC. In this episode, Paul talks about how companies in a fast-paced digital environment fail to recognize what their product’s true value is. With a significant change in the market and with [...]
OP-ED: The Psychology of Premier League Pay-Per-View Pricing
Originally posted on Sports Industry Group As the Premier League makes its matches available to fans on a pay-per-view basis for £14.95 per game, Ed Heskins, Senior Pricing Consultant, Iris Pricing Solutions takes a look at the psychology behind pricing - and why the league's approach has caused consternation [...]
5 Steps to Improving your Pricing Strategy during COVID-19 : Value of 1% Gallery5 Steps to Improving your Pricing Strategy during COVID-19 : Value of 1%
Crisis Management, Customer Intimacy, Differentiation Strategies, Industry Examples, Operational Excellence, Pricing Optimization, Product Leadership, Value Disciplines
5 Steps to Improving your Pricing Strategy during COVID-19 : Value of 1%
Pricing is the single most powerful lever a company has for boosting profitability. Yet, most organizations devote much more time and effort to cost-cutting than to improving pricing. If the average company captured 1% more in price, without any change in volume and costs, profit would climb by 12.5%, [...]
Pricing Solutions integrates with Iris Worldwide
Pricing Solutions is delighted to announce the exciting launch of our integration with Iris Worldwide. In 1993, we embarked on our mission to dramatically improve our client’s profitability and market share through improved pricing. Twenty-seven years later, Pricing Solutions has grown to become one of the world’s leading global [...]
