Netflix Evolves in the Choice Game
In this article, the authors spotlight Netflix's innovative evolution within the Choice Game. With a fresh approach to its portfolio, including offerings like an ad-supported standard plan, Netflix can set the stage for sustained profitability.
Using Conjoint Analysis to Answer Strategic Questions: Pricing Events
During Wiglaf Pricing's Pricing and Profit Management Winter ’24 Tour, the company asked attendees to fill out a marketing survey. In this article, the author reviews the initial survey results and the conjoint analysis that he conducted to provide deeper insight into the respondents' customer preferences.
Accelerating Your Return to Growth
2023 was a tough year for many industries – including tech. However, despite a rocky start to 2024, many companies still expect to return to revenue growth in 2024 according to the results of Simon-Kucher’s 2023 Global Software Study. How? By implementing the four best practices of top-performing companies, which the authors explain in this article.
10 Signs You Have a Broken Pricing Process
A pricing strategy and supporting pricing processes are critical for every organization. Managing the pricing process is complex and requires active management of the entire pricing lifecycle. With so many departments, processes, and factors in play, how do you determine if your pricing process is broken? To help you answer this question, the author has compiled the 10 most common symptoms of a broken pricing process discovered from working with some of the largest organizations in the world.
Six Techniques Used for Strategic and Differentiation Analysis
While companies may understand what makes them unique, they frequently neglect to consistently measure and evaluate the evolution of their differentiation strength. Effective competition necessitates constant measurement, management, and improvement of differentiation and advantage, as the author explains.
Strategic Pricing for Better Business Results: A Comprehensive Guide on Pricing Research
Given the swift and unpredictable shifts in the market, companies must possess the agility to adapt and remain competitive. Strategic adjustments in pricing enable companies to proactively respond to these changes, staying ahead of the curve and maximizing profits. This article emphasizes the crucial impact of strategic pricing research on companies' profitability and competitiveness. By aligning prices with customer preferences, businesses can optimize profits, increase market share, and foster customer loyalty, as the author explains.
Back to Reality 2.0: Five Recession Busters to Survive the Looming Slow Down
The natural reaction in times of crisis is to increase discounts and to close deals at any cost to keep the lights on. There are things you can do without giving away the farm. Pricing can be a creative and innovative tool to accomplish remarkable success while delivering more value to your customers and prospects, as the author explains.
Control: The Cornerstone of Effective Pricing
Author: Marcelo Krybus, CPP Proper control and analysis are indispensable to implement strategic pricing definitions effectively. The article draws a parallel between the evolution of pricing and analytics, outlining thirty-two indicators for monitoring performance and identifying opportunities. Additionally, key challenges and considerations for implementing a pricing monitoring process are highlighted. Marcelo Krybus, CPP, is a Partner Director at Quantiz Pricing Solutions. He has more than 15 years of experience specializing in various sectors such as agriculture, construction, education, and pharmaceuticals. Connect with him on LinkedIn here or reach out via email at quantiz@quantizinternational.com. The Journal of Professional Pricing, March 2024 DOWNLOAD PDF VERSION Introduction Peter Drucker, a renowned figure in modern management, said that “what gets measured gets managed” and “what gets measured can be improved.” Control is considered one of the six structural pillars of pricing, alongside strategy, price setting, commercial policy, processes, and [...]
Repricing Analytics in Difficult Trading Environments
In recent years, globally significant events have dramatically impacted supply chain related costs obliging many businesses to substantially increase their prices. The magnitude of price adjustments was so unprecedented that many organizations lacked the necessary experience to manage their offerings effectively in rapidly changing market conditions. This resulted in some companies failing to increase prices sufficiently, foregoing profit due to fear of lost sales, whilst others hit an inappropriately high price-point, to the detriment of sales. Many businesses ended up in a bedlam of distorted value propositions, incomprehensible price structures across markets and channels, and hence sub-optimal market competitiveness. Now, as the economy and markets start to recalibrate, there is urgency for businesses to rationally revisit pricing. The current article discusses some of the price analytics that could help on the way. They could form, as the author explains, a formidable basis for the application of AI – based pricing.
What to Price? Products, Use Cases, Value Paths
Most SaaS companies price products. This seems like the obvious thing to do since they do, in fact, sell products. However, is this always the best approach? In this article, the author highlights the benefits of alternative pricing approaches, such as pricing “use cases” and “value paths,” basing pricing strategy more on what “leads a buyer to buy or a user to use.” Although this article focuses on SaaS companies, these considerations apply to pricers in multiple markets and organizational structures.
PPS December 2023 Survey of Today’s Pricing Professional
The Professional Pricing Society’s December 2023 survey of pricing professionals received 752 responses from a cross section of industries across the globe. The mission of PPS is to nurture the global community of pricing professionals and to disseminate pricing expertise throughout the business world. As part of this mission, we conduct surveys as a free benefit to our members with the hope this research provides useful insights, including where pricing stands as a career option, the most- and least-favored aspects of pricing roles, pricing’s current status in the business world, and much more.
Effective Price Management: A Key to Boosting Profits
In the rapidly evolving business landscape, effective price management is a critical factor in determining a company’s success. Effective price management is a continuous process that requires a nuanced understanding of market trends, customer expectations, and ethical pricing considerations. It’s about finding that sweet spot where profitability meets fairness, contributing to both immediate financial success and long-term brand loyalty, as the author explains.
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