Is There a PERFECT Pricing Model?
The question of the right pricing model is a topic of heated and controversial debate in the pricing community. There is no simple answer to this question - but here is what you can look out for.
Restaurant cost and price increases: The value of digital and loyalty initiatives
Most restaurants anticipate being affected by recession and cost increases over the next year. How can brands continue to drive growth with price differentiation and digital & loyalty initiatives? Although specific to the restaurant industry, this article offers insights for pricing in the currently challenging global economy that can be applied across numerous industries.
Mastering the Price Wars: Thriving in Competitive Markets
Successfully navigating pricing challenges in a competitive environment requires a comprehensive understanding of your value proposition, segmented by customer type, and supported by price data and pre-approved responses. With these in place, your business will be in a strong position to rise above the competition, as the author explains.
What is price sensitivity and why should EVERY e-commerce business measure it?
Every e-commerce manager strives (or rather should strive) to boost conversion rates while still keeping margins intact. But let's face it, it's a tricky one. More often than not, you gain one while losing the other. But it doesn't have to be this way. With the awareness of your products' price sensitivity, you can increase conversions without sacrificing your margins, as the author explains.
The 5 pitfalls of conjoint analysis in pricing research
Conjoint analysis is one of the most popular methods used to measure the preferences of individuals or groups. It determines, for instance, the degree to which consumers value specific products, which then helps in developing sound pricing strategies. However, this method has some pitfalls that can hinder its effectiveness and application in pricing research, which the author addresses in this article.
SaaS Discounting Practices and Pricing
Many companies say that a discount is an investment, but they don’t really treat it that way. There is no analysis of the scale of the investment and the expected return, and when there is, there is seldom any follow-up to see if the return on the discount was realized. In this article, the author outlines several common types of discounting as well as common pitfalls of these approaches and best practices for implementation. Although the examples are B2B and Software-as-a-Service (SaaS) specific, the pricing insights in this article are applicable for pricers across industries.
The 11 Competences of the Effective Pricing Professional
In this article, the author explores 11 skills that, through his experience in pricing, he has deemed as critical for achieving success in your pricing career. Author Alexandre Costa is a Certified Pricing Professional (CPP) with extensive experience in project management of Strategic Pricing, Revenue Management, and Market Intelligence.
What’s on the Menu? Revenue Growth Techniques for Restaurants
By mastering revenue growth management—ensuring that pricing, promotions, and menu offerings are all working together—US restaurants can serve up profitable growth, as the authors explain.
The Art of Effective Market Research for Pricing
In the realm of market research for pricing, avoiding common pitfalls is essential to deriving true value from the endeavor. The test for market research for pricing success lies in its ability to confidently guide companies toward improved pricing strategy, steady growth, and increased profitability. In this article, the author outlines ten common failures associated with pricing market research and provides best practices for both avoiding these pitfalls and also developing actionable, insightful research for your pricing operations.
MaxDiff in Price Research
MaxDiff is a versatile and powerful research technique that can provide valuable insights for new product development. By understanding its theoretical underpinnings, advantages, and applications, as well as the challenges and limitations, researchers and product developers can effectively leverage MaxDiff to make informed decisions and create successful products that resonate with their target audience, as the author explains.