Time to Re-evaluate Your Pricing Process?
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.
Applying Your Predictive Analytics Using Effective Communication
Lessons on effective communication for Senior Executives to data crunchers inspired by the 2014 Predictive Analytics World Conference. Big Data, Analytics, sexy models….albeit sexy predictive models (that’s right, math models!).
Apply Analytics to Increase Profitability
Picture the following scene: it’s nearing year-end and company executives are immersed in high-level strategic meetings. The objective: improve company profitability in the coming year.
So Long Holiday Shopping; Hello, Pricing Research
The holiday season brings out all types of shoppers. Understanding your diverse customer segments takes customized pricing research and tools.
What the San Francisco Giants can teach you about optimizing your pricing strategy
In recent years we have seen the sporting world borrow pricing strategies from other industries, and vice versa. In such a diverse business environment what is the optimal pricing strategy for events, and what can other sectors learn from developments in ticket pricing?
Finding your Pricing Strategy on the 5 Levels of Pricing Improvement
Not long ago I thought it was time to “get personal about pricing,” and wrote World Class Pricing: The Journey. More than 20 years of experience and 700 projects went into developing a roadmap to pricing improvements that now all our clients use.
Future of Your Price Optimization Strategy
Successful price optimization requires scenario planning. This involves generating alternatives, modelling impact, assessing outcomes and choosing a result.
Steer Clear of Pitfalls in Pricing Research
In pricing we talk a lot about developing an ‘outside-in’ perspective; the type of perspective that helps you understand what customers are willing to pay for. Pricing research provides critical insight into your customers but watch out for common pricing pitfalls.
Spring is a Time For Pricing ‘Commitments’
Spring is an ideal time to revisit old pricing practices, assess their efficacy and commit to refreshing what might not be helping the long-term interests of your business, including pricing policies and strategies.
“Pricing Strategy: Achieving Buy-in and Avoiding Pricing Pitfalls”
President Paul Hunt, continues his discussion of customers, competition, costs, capacity/cycle, explaining how the socialization of the 4Cs is essential to achieving buy-in to your pricing strategy. Paul also talks about common pricing challenges and mistakes, and explains how your organization can avoid them.
“Pricing Strategy: Key Ingredients to Getting Started”
Paul Hunt, President of Pricing Solutions, discusses the importance of developing a well-articulated Pricing Strategy, the challenges of pricing globally and four key ingredients in an effective Pricing Strategy.
How Quickly Consumers Buy Says a Lot About How Much to Charge
Quick acceptance or rejection of a new product is most common for everyday consumer goods. Speed of adoption can have a significant impact on the pricing strategy surrounding a new product launch.
Co-Branding With Discount Retailers Could Spell Trouble for Exclusive Brands
As co-branding among retailers becomes more popular. We outline different considerations managers should evaluate before saying yes to that new partnership.
Can’t Handle the Hagglers? You Could Be Leaving Money On The Table
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”.
How to Make Competitors Follow Your Pricing Lead
Far from being the first to take action, a true price leader is able to consistently execute pricing actions that result in the desired effect. Much like in a game of chess, a pricing leader devotes the time and resources to understanding the motivations and aspirations of its competitors and to building the skills necessary to think several pricing moves into the future.
Introducing Pricing Solutions Asia Pacific: New Singapore Office!
Singapore: July 18, 2012 - Pricing Solutions Ltd., a leading consulting firm specializing in pricing strategy and well known for its World Class Pricing ™ Methodology and Price + Value Insights™, is delighted to announce the opening of its Asia Pacific Headquarters, located in Singapore.
Bundling as a Pricing Strategy and Marketing Tool
We find that companies often treat bundling as purely a marketing tactic versus a component in a broader pricing strategy. It is not uncommon for companies to incorporate terms and features into a sale without understanding their inherent value.
Death of The Penny May Cause Extinction of Strategic Price Point
On May 4th the Canadian government officially stopped production of the penny, and will now be using "Swedish Rounding". There may be significant implications for pricing, after all a 1% improvement in price leads to a 12.5% improvement in corporate profitability for the average company.
Why You Should Re-Think Your Cost-Based Strategy
Cost based pricing is relatively simple. The simplicity of cost-based pricing is what attracts many companies. But we think companies would benefit from slowing down before adopting such a pricing strategy.
How to Avoid Commoditization
The threat of commoditization is a reality for many marketers. We discuss pricing strategies that help marketers set prices to capture value.
