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Strategic Pricing for Better Business Results: A Comprehensive Guide on Pricing Research

Given the swift and unpredictable shifts in the market, companies must possess the agility to adapt and remain competitive. Strategic adjustments in pricing enable companies to proactively respond to these changes, staying ahead of the curve and maximizing profits. This article emphasizes the crucial impact of strategic pricing research on companies' profitability and competitiveness. By aligning prices with customer preferences, businesses can optimize profits, increase market share, and foster customer loyalty, as the author explains.

By |2024-04-16T19:17:53+00:00April 16, 2024|Pricing Articles, Pricing Research|0 Comments

Back to Reality 2.0: Five Recession Busters to Survive the Looming Slow Down

The natural reaction in times of crisis is to increase discounts and to close deals at any cost to keep the lights on. There are things you can do without giving away the farm. Pricing can be a creative and innovative tool to accomplish remarkable success while delivering more value to your customers and prospects, as the author explains.

Repricing Analytics in Difficult Trading Environments

In recent years, globally significant events have dramatically impacted supply chain related costs obliging many businesses to substantially increase their prices. The magnitude of price adjustments was so unprecedented that many organizations lacked the necessary experience to manage their offerings effectively in rapidly changing market conditions. This resulted in some companies failing to increase prices sufficiently, foregoing profit due to fear of lost sales, whilst others hit an inappropriately high price-point, to the detriment of sales. Many businesses ended up in a bedlam of distorted value propositions, incomprehensible price structures across markets and channels, and hence sub-optimal market competitiveness. Now, as the economy and markets start to recalibrate, there is urgency for businesses to rationally revisit pricing. The current article discusses some of the price analytics that could help on the way. They could form, as the author explains, a formidable basis for the application of AI – based pricing.

What to Price? Products, Use Cases, Value Paths

Most SaaS companies price products. This seems like the obvious thing to do since they do, in fact, sell products. However, is this always the best approach? In this article, the author highlights the benefits of alternative pricing approaches, such as pricing “use cases” and “value paths,” basing pricing strategy more on what “leads a buyer to buy or a user to use.” Although this article focuses on SaaS companies, these considerations apply to pricers in multiple markets and organizational structures.

PPS December 2023 Survey of Today’s Pricing Professional

The Professional Pricing Society’s December 2023 survey of pricing professionals received 752 responses from a cross section of industries across the globe. The mission of PPS is to nurture the global community of pricing professionals and to disseminate pricing expertise throughout the business world. As part of this mission, we conduct surveys as a free benefit to our members with the hope this research provides useful insights, including where pricing stands as a career option, the most- and least-favored aspects of pricing roles, pricing’s current status in the business world, and much more.

Effective Price Management: A Key to Boosting Profits

In the rapidly evolving business landscape, effective price management is a critical factor in determining a company’s success. Effective price management is a continuous process that requires a nuanced understanding of market trends, customer expectations, and ethical pricing considerations. It’s about finding that sweet spot where profitability meets fairness, contributing to both immediate financial success and long-term brand loyalty, as the author explains.

By |2024-04-16T19:12:24+00:00March 31, 2024|Price Management, Pricing Articles|0 Comments

GenAI Needs Pricing Strategies to Match Its Potential

The models and applications for generative AI (GenAI) can unlock more of their transformative potential if their developers devise smarter pricing strategies instead of defaulting to familiar tech-industry options. The right pricing strategy depends on how a solution creates value for customers, how differentiated it is, and how its cost structure will evolve, as the authors explain.

By |2024-04-16T18:47:35+00:00March 31, 2024|Pricing and AI, Pricing Articles|0 Comments

Revenue Growth Management: An Introduction to the Flywheel

Revenue Growth Management (RGM) is a critical capability to make holistic business decisions in a time that is characterized by high volatility in costs and demand, with rapidly changing consumer behavior. In this article, the authors present the concept of the RGM Flywheel, an approach that harnesses six primary RGM levers to unlock profitable growth. Although the article focuses on the increasing influence of RGM approaches in consumer goods industries, this article presents pricing strategies and RGM best practices that pricers can apply in multiple industries and markets.

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