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.
Pricing projects involve a great deal of collaboration, communication and coordination between numerous, diverse departments within an organization. Oftentimes, projects become derailed because one side doesn’t know what the other side is doing or, in many cases, each side is speaking a different “language.” In this article, the author presents recommendations for ensuring that your pricing project isn’t sabotaged by ambiguous or contradictory communications.
The rapid spread of the Coronavirus is causing uncertainty for consumers, suppliers and markets. Consumers decry increased prices in the face of a crisis, but suppliers are working to meet increased demand and prevent scarcity at a more rapid rate. Emergency situations call for emergency pricing responses, but what are the best responses for all concerned? In this article, the author explores the pricing complexity and ethical considerations pricers face in these types of situations.
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.
In the same way that we see ”Software-as-a-Service” in IT solutions, we are increasingly moving to a world in which manufacturers sell the performance of their products and systems rather than the products themselves, or a “Product-as-a-Service” approach. In this article, the author presents findings and strategies derived from a recent, in-depth market study of the Product-as-a-Service evolution.
In pricing, what is the goal? Is it to increase profits, revenue, or some other metric? The obvious answer would be profit optimization, yet business experience repeatedly demonstrates that this is not necessarily the case. In this article, the author examines how varying methods of corporate valuation affect and drive the goals for pricing within various organizations.
Digitalization is changing the marketplace and new factors are influencing pricing success. Drawing on the results of Simon-Kucher’s Global Pricing Study, this article shares five ways companies can escape growing pressures on pricing and sales by turning digitalization into an opportunity.
This article addresses the following question: what makes a modern pricing organization today? According to the author, it is a combination of architecture (legacy systems vs. cloud platforms), strategy (pricing strategy development, governance and revenue models), science (data science literacy and democratization) and deployment (execution, scalability and speed).
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.