A note from Iris Pricing Solutions President: Kirk Jackisch 3 Ways Businesses Can Optimize Prices in 2024 As 2024 progresses amidst global uncertainty, businesses face significant challenges. Recent years have witnessed escalating costs and diminishing profit margins, prompting frequent price increases, often occurring multiple times annually. Despite this, businesses have increasingly embraced robust price [...]
Navigating the Ethical Pricing Conundrum Pricing is a crucial aspect of any business, as it determines the profitability of a company and its ability to remain competitive. However, when setting prices, it is important to consider not only economic factors, but also ethical considerations. In this article, we will look at the various ethical [...]
A note from Iris Pricing Solutions President: Kirk Jackisch As we approach the end of 2022, it is clear that pricing leaders will need to navigate a very unpredictable market…perhaps more than ever before. With this uncertainty, leaders must employ resilient, proactive, and competitive pricing strategies. What We Saw Across Industries Almost all companies [...]
By: Ben Garden, Director of Analytics, Iris Pricing Solutions There are significant benefits to working with a team who has high-level pricing analytical skills and can use your company's data to inform pricing and create new pricing opportunities, especially in the areas of e-commerce and competitive intelligence. Leveraging your data and analytics to make [...]
Background Our client with over $100 million in revenue annually, sells original and aftermarket parts for automotive enthusiasts. They cater to individuals with private garages and lifts, and of the components they sell, almost 60% are for Ford Mustang, Jeep, and Chevy vehicles. During the pandemic, many enthusiasts had more time to work on [...]
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 [...]
I meet with a lot of executives in the B2B sphere who talk about wanting to achieve “price optimization.” While the term pricing optimization is bandied about quite often in the industry, the way it’s being used is problematic.
This article aims to provide an overview of pricing research and explain how it can be applied for long-term business growth.
Increasing the prices on your menu is one of the most challenging and risky parts of running a successful restaurant business. In this article, we will explore the best practices for restaurants to periodically raise menu prices, while maintaining profit margins and avoiding key areas of risk.
Many people see pricing strictly from a financial perspective, but there’s more to a good pricing strategy than that. A sound pricing strategy ensures you’re well positioned to compete, which is why you always need to tie your price to value.
