Do your customers trust you? How do you find out? If they don’t, how do you build that trust and understand what your customers expect from you? In this article, the author outlines clear steps you can take to develop your customers’ trust in both your organization and your pricing.
Pricing a new product is complex and pricing a new offer during the COVID-19 outbreak is even harder, especially as market research may not be accessible or reliable. In this article, the author outlines the possible challenges that may develop when conducting research for a new digital product during this time period, potential solutions to address and minimize these research challenges, and pertinent feedback from the front-line respondent recruiters and market research panel companies who are conducting research during the COVID-19 crisis.
The COVID-19 crisis is likely to confront companies with several rounds of devastating economic impacts until a vaccine becomes widely available. What “vaccine” can a company take to steel itself against these impacts? Commercial agility – a rare combination of capabilities – is what will separate the winners from the rest as the pandemic persists, as the authors explain.
The Professional Pricing Society’s December 2019 survey of pricing professionals received 798 responses from a cross section of industries across the globe. PPS conducts surveys with the hope that this information provides a good synopsis of where pricing stands as a career option and how the profession has grown over the past year while also providing a good demonstration of pricing’s status in the business world.
In this article, the author outlines ten common reasons that strategic pricing projects get off track and what pricers can do to anticipate and prepare for the possible scenarios.
From ancient times through today, philosophers have contributed valuable insights on pricing. Astute pricers should keep their eyes wide open. Pricing is not a narrow discipline. It benefits from deep, almost philosophical thinking and understanding, as the author explains.
Don’t see an immediate need for defensive pricing? Demand is good, and competitors are behaving reasonably? But what if the economy should experience a material downturn? This article describes the pricing logic and capabilities which can protect a business and its pricing from competitor attack.
Decision makers need a clear roadmap for integrating pricing into the New Product Development (NPD) process. This paper provides a roadmap for how best to integrate pricing in the new product development process, including timing of execution and methodologies and resources to deploy.
In this article, the author presents a methodology for accurately projecting sales budgets. Specifically, the methodology presents a series of five equations that can be used to determine the income forecast necessary for the sustainability of current profit margins, which the author calls the IFSPM Method. Examples are provided to demonstrate the methodology’s applicability in both project and service-driven businesses.
In order to design and deploy value-based strategies, including value-based pricing, firms must be equally obsessed with obtaining deep customer insights and deep competitive information, as the author explains.