GenAI Needs Pricing Strategies to Match Its Potential
The models and applications for generative AI (GenAI) can unlock more of their transformative potential if their developers devise smarter pricing strategies instead of defaulting to familiar tech-industry options. The right pricing strategy depends on how a solution creates value for customers, how differentiated it is, and how its cost structure will evolve, as the authors explain.
Revenue Growth Management: An Introduction to the Flywheel
Revenue Growth Management (RGM) is a critical capability to make holistic business decisions in a time that is characterized by high volatility in costs and demand, with rapidly changing consumer behavior. In this article, the authors present the concept of the RGM Flywheel, an approach that harnesses six primary RGM levers to unlock profitable growth. Although the article focuses on the increasing influence of RGM approaches in consumer goods industries, this article presents pricing strategies and RGM best practices that pricers can apply in multiple industries and markets.
Trends 2024: What you need to expect for your sector
In this article, the authors present opportunities and strategies that pricers can apply in 2024 to accelerate business growth. Although focused on certain sectors, these insights can be applied by pricers across industries.
AI-Powered Pricing: Good for the Planet, Good for Business
Embracing AI enables not only financial profits but progress—progress towards smarter, more conscious consumption benefiting both people and the planet, as the author explains.
The Metaverse: Overhyped and under-monetized?
Over the last 3 years, Metaverse applications were hyped quite prominently. With high interest rates and a slowing economy, companies are refocusing on their bread-and-butter business. Hence, the big question is how Metaverse applications can help to boost firms’ growth and profitability?
Mastering the Art of Value Conversations in B2B Sales
Managing the critical link between value proposition design and value engagement is what makes or breaks your value-based selling initiatives. In this article, the author takes a deep dive into the concept of value conversations.
Resilient Pricing for an Uncertain World
Companies usually weather brief periods of market volatility by adjusting price levels or package sizes. But most B2B companies now expect the current volatility and uncertainty to persist. This creates the need for companies to use a wider range of pricing tactics and to make strategic investments in pricing tools and processes. Resilient pricing enables companies to explore growth opportunities instead of focusing on defense and survival—and to build a bulwark against future volatility, as the authors explain.
Train Your Pricing Muscle
In the current economic climate with increased cost of capital and sustained high inflation across global markets, it’s important for your organization to have an effective annual price increase process in place. As we enter the new year, now is the time to start thinking about your next annual price increase, as the authors explain.
The Discount Effect: How it Holds Back Salesforce Effectiveness
While discounting is the symptom that needs to be fixed, a full understanding of the underlying root causes that drive this behaviour is key to improving sales performance. Ultimately, management needs a clear line-of-sight to both: does your business have what it takes?
Subscription: 4 tips on how to do it “the Amazon Way”
In this article, the author explores how Amazon became the biggest player in the subscription economy and explains what you can learn from Amazon Prime for your business model. This article is especially helpful for pricers currently working with or seeking to implement a subscription pricing model.
3 Trends to Watch for in 2024
Author: Mike Slavin The new year is here, and pricing analysts are hard at work predicting which trends will have the largest impact on pricing in multiple industries in 2024. In this blog post, Mike Slavin, Business Consultant at Vendavo, shares his thoughts on the economic, inflation and interest rate, and artificial intelligence shifts pricing professionals can look forward to in the coming year. Mike Slavin is a results-driven consultant with more than 15 years of management experience with distribution and discrete manufacturing companies in product management, customer service, pricing, and supply chain roles. He can be reached at mslavin@vendavo.com. The Pricing Advisor, October 2022 DOWNLOAD PDF VERSION As we step into 2024, the business world is buzzing with both challenges and opportunities. I’m using my 35 years in pricing for manufacturing and distribution to make a few predictions about what will shape our industry in the [...]
How companies should manage prices in inflationary times
This article delineates a comprehensive playbook elucidating the optimal approach for companies to navigate the intricacies of pricing during inflationary times.
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