COVID-19 has impacted business across most industries, causing a variety of new pricing challenges and questions. Companies are focusing on pricing now more than ever, and indeed pricing is a powerful tool that can help companies face and resolve the challenges they're experiencing. When implemented strategically, pricing can generate a bottom-line improvement while also [...]
Price increases can be difficult to implement but there are tangible steps you can take to ensure a smooth transition and get customers on-board.
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.
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.
Many input prices seem to be starting to inflate again. Allow yourself some options to adjust list prices if commodity costs continue to inflate.
A curious note about Ford Explorer's new pricing strategy on their 2011 model. They are offering a premium for an upgrade to a smaller motor with an EcoBoost engine.
