In this article, the author examines the inflationary issues at hand and how pricing can assist in calming the inflation storm and make sure pricing teams are ready for any other disasters they may face. Because let’s face it, this won’t be the last time we face dramatic shocks to your ecosystem – 2008 crisis, anyone?
Inflation is back, cost volatility and supply chain disruptions are continuing, and the availability and supply of raw materials are inconsistent. While these trends show no signs of abating, economic concerns are growing, and companies are wondering how they should adjust their pricing to offset constant inflation without jeopardizing future revenues. Industrial players are paying more attention to their pricing strategies to cope with inflation and ensure sustainable impact, as the authors explain.
Inflation is headed up over 8% per year and could go over 10% in the United States. Interest rates are rising in response, and the economy could tumble into a recession (two consecutive quarters of contraction). Boards need to help their companies develop the resilience to survive these changes and prepare them to adapt to a changing environment. One step towards doing this is to ask some basic questions about pricing, as the author explains.
Few chief executives have faced the challenge of leading a company through an inflationary spike like the one we are currently experiencing. Lessons from strong leaders and bold action can help CEOs make the decisions that only they can make.
Virtually every type of business is feeling the effect of current inflation levels and are being forced to raise prices in order to continue operating profitably. Although most customers understand the current economic pressures and see that prices are increasing everywhere, where things can get messy is in the “how” and “how much” behind these increases. In this article, the author provides best practices for avoiding the appearance of “greedflation.”
In this article, the author presents a nine-step approach that helps MedTech companies to successfully increase their prices while avoiding the most common pitfalls. It is structured in three phases – level configuration, implementation preparation, and roll-out – and addresses the key questions companies have regarding price increases. Although specific to the medical technology industry, this article provides insights for all pricers who are seeking agile solutions to battling current inflation challenges.
Getting ahead of rising prices in an inflationary environment is one thing; staying ahead is another. Data, technology, and savvy management can turn cost pressures into pricing opportunities, as the authors explain. Although focused on private equity, this article provides insights that can be applied by pricers dealing with the challenges of widespread inflation.
In the world of subscriptions, customers typically pay a fixed amount in regular intervals after having made a purchase decision on a pricing page from a set of available plans, usually differentiated by feature or time commitment. With a dollar in the future not being the same as a dollar today due to record rising inflation, the $20/month you charge customers will be worth less and less in real terms over time. While rising inflation is a legitimate concern for SaaS companies, its effects can be mitigated by planning ahead and adapting prices the right way.
Just as the pandemic is (HOPEFULLY) winding down, a new crop of business challenges has arrived. These challenges include the war in Ukraine, inflation, and the possibility of wider global conflict. Now is not the time to ignore your pricing. If anything, challenging business conditions are one of the most important times to review your pricing performance and pricing strategy, as the author explains.
With rising prices, raw material costs, and energy expenses, it’s safe to say goods are more expensive than they have been in years. And there seems to be no relief in sight. In this article, the authors explore best practices for pricers in both B2B and B2C industries to grow profits despite inflation.