In this article, the author explores the current state of the pricing software industries, reasons why it has not grown at a faster rate, and current challenges the industry is facing which are prohibiting it from achieving scalability and profitability.
In their recently announced move into retail grocery stores, an expansion of their existing online grocery purchase and delivery services, Amazon once again demonstrates how its primary focuses when expanding its business are unique positioning for each brand and unique value for each brand. Can you say this about your product lines and their positioning and value? Does your pricing reflect this? If not, it may be time to shift focus and resources towards addressing these areas, as the author explains.
Baseball’s innovations in pricing and selling tickets are pertinent to many industries because they take under-utilized or non-utilized assets based on the understanding of customers’ needs and willingness to pay, plus the contribution margin that comes along with value added services, which creates revenue and profit streams where none existed before, as the author explains.
Many companies are forced to pass on increased costs to maintain their own revenues. However, a recent online Simon-Kucher survey on price increases revealed that only 17% implement their price increases successfully. Why is this? In this article, author Nina Scharwenka discusses how to beat price pressure and successfully implement price increases. The key to success lies in the preparation.
We all know that pricing power is one of the best predictors of a company’s long-term financial success and market growth, but how do you know if you have it? Pricing power is one of those things that is very easy to identify in retrospect, but significantly more difficult to proactively create. In this article, the author explores key questions businesses should ask themselves to determine how much pricing power they actually have.
The transformative nature of IoT (Internet of Things) technology means that pricing your offering accurately is a complex challenge that can only be resolved with understanding customer’s value perception. Getting the price right can make a significant difference between a failed experiment in pushing new technology into an unreceptive market or a viable offering with high ROI and extended customer relationships, as this article explains.
In this article, the author explores the curious commercial policy of retroactive rebates, which are negative price variances paid to customers after the invoice has been issued. He analyzes several challenges associated with these rebates and presents strategies for correcting this practice.
In this article, the authors examine the reasons why price wars flare up so quickly and present strategies that companies can implement in order to avoid these costly and competitive situations.
Artificial Intelligence (AI), and particularly Machine Learning (ML), will change the game for pricing. But AI’s just the tip of the iceberg. You need first to make sure that the foundations of your business - your pricing strategy and implementation plan, data, workforce, etc. - are solid so you can introduce AI constructively, as the authors explain.
In this article, the author examines the ten most common challenges that arise for companies attempting to implement global pricing transformations.