Pricing Studies – Then What?
Many companies fail to earn the full value of their profits because their pricing strategy is not based on the actual decision-making process customers attribute to the product. Pricing studies can provide some help, but they are only the first step on the path to behavioral pricing, as the author explains.
Excerpt from “Many Worlds, One Life”
Hermann Simon, Founder and Honorary Chairman of Simon-Kucher & Partners, recently released his autobiography: “Many Worlds, One Life.” The book describes Dr. Simon‘s journey through many worlds, including how pricing became his vocation, how he built the global market leader Simon-Kucher, and how became fascinated by the Hidden Champions.
Debunking the Myths of Dynamic Pricing
Companies can generate higher revenue and margins by implementing a more dynamic approach to pricing. The first critical step is for companies to see through the myths around dynamic pricing, which will help provide the ambition and the direction to start their journey.
From Free Fall to Gliding: The Agile Cost Management Challenges in an “After Corona” World
The one trait that will separate the winners from the rest in this pandemic is a rare combination of capabilities that we call commercial agility: the ability to make resilient pricing, design, sales, and cost management decisions with unprecedented speed and flexibility – over and over again – until some form of equilibrium returns to your market.
PPS December 2020 Survey of Today’s Pricing Professional
The Professional Pricing Society’s December 2020 survey of pricing professionals received 752 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 while also providing a good demonstration of pricing’s status in the business world. For more information, please email contactus@pricingsociety.com.
How to Introduce Usage-Based Pricing
Usage-based pricing is one of the themes in 2021. Both product-led growth and service-led growth strategies work best when there is an element of usage-based pricing. But where to start? In this article, the author walks through the best way to layer in usage-based pricing.
15 Considerations for Progressive Business-to-Government Pricing
This paper is a reprint of Chapter 3 of the author’s most recent book – B2G Pricing - adapted for this Journal. B2G Pricing focuses exclusively on the nuances and specific tactics required in the area of business-to-government pricing.
Embracing the Change: 2020 China NRDL Outlook
China’s 2020 NRDL (National Reimbursement Drug List) process has been unfolding since July this year with a number of new changes and interesting twists. Based on the authors’ experience and observations, as well as ongoing discussions with key players and stakeholders in the industry, they have identified three themes and made five predictions on the likely outcomes of 2020 NRDL process.
Discounting with Discipline: How to Make Sure Your Discount Program Succeeds
Companies facing falling demand—for individual products or across portfolios—typically think about increasing discounts and promotions to reinvigorate sales. This is a natural reaction, especially in an economic downturn, like the one unfolding in 2020. But when discount programs are not carefully crafted, the intended sales lift does not occur. In this paper, we outline six key considerations for sales and marketing executives and C-suite leaders when planning and executing discounts. With these considerations in mind, companies can respond to the current demand challenge, while minimizing the risk of unintended consequences.
Management Pricing Concerns: Which Issues Matter?
All it takes is a cursory look at the news to find plenty of examples of the pricing issues of well-known companies being covered in the public sphere. These examples can help us to determine which pricing concerns are most important to management. While any pricing concern could be most important to a given company at a given time, there are a few recurring themes across industries.
The Need for Commercial Excellence 2.0
One of the business impacts clearly demonstrated during the COVID-19 crisis is that, due to a combination of the pandemic’s economic impact as well as the accelerated rate of commercial digitalization, Commercial excellence 1.0 is dead. Long live commercial excellence 2.0. This new version is fast, furious, focused on impact, grounded in pricing science, and leveraging technology for efficiency, as the author explains.
Pricing and Greed
A pricer’s job is to capture value, but we tread a fine line between optimizing short term revenues and jeopardizing customer trust by becoming what is labelled as “greedy.” In this article, the author explains what constitutes “greed” in pricing provides strategies to help pricers avoid these tactics.
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