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Pricing and Artificial Intelligence: A Match Made in Heaven?

With the ability to analyze vast amounts of data in real time, Artificial Intelligence (AI) algorithms offer the potential to identify optimal pricing for products or services at any given time. However, as with any new technology, there are potential drawbacks that businesses must be aware of to ensure effective and ethical implementation. In this article, the author explores the benefits and drawbacks of Price Optimization using AI algorithms, as well as solutions businesses can implement to navigate the challenges and maximize the benefits.

By admin|2023-05-17T18:52:59+00:00April 28, 2023|Machine Intelligence, Price Automation, Pricing Articles|0 Comments

Protecting And Growing Profit Margins in 2023

Company profit margins are under attack. In a recent FD.NL (Het Financieele Dagblad) survey, it was found that 93% of C-Suite executives in the Netherlands expect a drop in profit margins of between 10-25%. That’s a scary number and requires businesses to take action to protect their profit margins. In this article, the authors explain how businesses can still protect and grow profit margins even amidst these challenging economic conditions. This example from consumer goods in the Netherlands has lessons that apply cross industries and geographies.

By admin|2023-05-17T19:15:13+00:00April 28, 2023|Inflation Pricing, Pricing Articles, Recession Pricing|0 Comments

Who ate my cookies? The curious case of shrinkflation impact on brands

From vanishing snacks to your shrinking wallet, everyone is making tradeoffs currently due to shrinkflation. What is the impact of shrinkflation on the brand? And what role does pricing have to play in it? With increased awareness and proactive measures, we can reduce the impact of shrinkflation on our everyday lives and businesses, as the author explains.

By admin|2023-05-17T19:13:44+00:00April 28, 2023|Inflation Pricing, Pricing Articles, Pricing Trends|0 Comments

3 Short-Term Pricing Wins and Where Teams Get it Wrong

At the start of each year, most commercial teams are looking to get a running start on strategic initiatives with price and profit improvement. However, before pursuing quick wins, you should ask your commercial teams these key questions: how effective will this strategy be in the long-term when economic cycles shift, are sales teams well-equipped to communicate these changes in a way that is fair to customers, and what would the impact of these changes be on long-term customer satisfaction?

By admin|2023-05-17T19:17:31+00:00April 28, 2023|Pricing Articles, Strategic Pricing|0 Comments

Are You Pricing Your Products Correctly?

Often, pricing strategies waste potential because they price products purely based on value. This article explains why this strategy falls too short and how behavioral pricing can open up additional potential for your pricing strategy.

By admin|2023-05-17T19:19:18+00:00April 28, 2023|Pricing Articles, Pricing Strategy|0 Comments

After the price hike frenzy, it’s time for precision pricing

Economic conditions are shifting fast, and an indiscriminate approach to pricing will not be a viable performance-enhancing lever in the foreseeable future. Consumer product (CP) companies will need to embrace a more structured, disciplined, scientific, and surgical approach to pricing. We call it “Precision Pricing.” The basic principles and practices presented here will help you navigate the next economic cycle more confidently from a pricing perspective and will put your organization on a path to building differentiated capabilities that will serve you well in the long run, as the authors explain.

By admin|2023-05-17T19:20:17+00:00March 31, 2023|Pricing Articles, Pricing Strategy|0 Comments

Why Use a Commodity Index to Model Prices? Because Inflation

Some companies (and their customers) are tired of playing the “inflation price update” game: trying to determine how much input costs have actually increased and then trying to determine how much of that cost can be passed on to customers. As a result, some companies have decided to opt out of as much of this game as possible by updating their pricing models to include a commodity index, as the author explains.

By admin|2024-07-23T15:12:35+00:00March 31, 2023|Inflation Pricing, Pricing Articles|0 Comments

PPS December 2022 Survey of Today’s Pricing Professional

The Professional Pricing Society’s December 2022 survey of pricing professionals received 743 responses from a cross-section of industries across the globe. The mission of PPS is to nurture a growing community of pricing professionals committed to disseminating pricing expertise throughout the business world. As part of this mission, PPS conducts surveys with the hope that this information provides a good synopsis of where pricing stands as a career option while also providing a good demonstration of pricing’s status in the business world.

By admin|2023-03-27T23:09:10+00:00March 31, 2023|Journal of Professional Pricing, PPS Survey of Professional Pricers, Pricing Articles|0 Comments

Pricing Through High Inflation

In an environment of entrenched inflation, those companies that can execute fast on price adjustments/increases will become the fittest to overcome the challenge. Reacting means already losing margins, and potentially even business and competitiveness. Managing in anticipation and swift execution are key to coping with an inflationary business environment. That said, price adjustments need to be fair, evidence-based, and transparent, and they need to be tuned to that level which allows for good competitiveness. This demands a high level of business agility, as the author explains.

By admin|2023-03-27T22:22:44+00:00March 31, 2023|Inflation Pricing, Journal of Professional Pricing, Pricing Articles|0 Comments

Is it time for SaaS companies to factor costs into pricing?

There has long been an assumption that Software as a Service (SaaS) companies will become profitable as they scale, so that as long as you are on track for rapid growth, the profits will come. This belief is now being called into question. SaaS companies have real costs and how those costs change with scale has become an open question for many companies. To be successful in today’s changing economic climate, SaaS companies need to understand the relationship between value, price, and costs and how these change with scale, as the author explains.

By admin|2023-03-29T14:04:23+00:00March 31, 2023|Pricing Articles, SaaS Pricing|0 Comments

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This site provides access to archived articles from the Pricing Advisor newsletter, the Journal of Professional Pricing, our pricing blog, pricing research reports, and other resources for pricing professionals.