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.
Streaming slowdown making players rethink offerings to prevent subscription churn
Simon-Kucher’s latest Global Streaming Study reveals that people are not increasing their streaming hours any more. And consumers are not only stepping back from streaming ‘more’ but also battling subscription fatigue and increasing price sensitivity. Can streaming service providers prevent subscription churn and still gain customers in this market?
Price Optimization: Why It’s Important And How It Works
In this article, the author explains what price optimization is, how it works, how to ascertain if price optimization is right for you, and how to identify the right path to a successful implementation.
Stop Blaming Ticketmaster for High Prices
Customer outrage about expensive ticket prices is not a new phenomenon. But recently, even politicians are joining the chorus of complaints and threatening to investigate the entertainment ticket industry. But are Ticketmaster, Live Nation, and other providers gauging prices? Or are the prices driven by other factors?
Pricing in an Era of Turbulent Supply Chain Headwinds
Supply-aware dynamic pricing enables companies to meet demand and protect margins in a new and shifting landscape, as the authors explain.
Combating Anchoring Bias in B2B Sales
Humans tend to give undue weight to the first piece of information they receive. In the context of B2B sales, this means that if a buyer is presented with a low price at the outset, it can anchor the entire negotiation to a lower price point. This can make it difficult for a seller to negotiate a higher price. In this article, the author presents three common scenarios in which customers anchor on a low price and provides strategies pricers can employ to combat this anchoring behavior.
Ethics and Hidden Greed
How do we protect ourselves and our business interests from the unethical behaviors of others? In this article, the author connects time-honored ethical principles to real-world cases and offers the building blocks and counter-strategies you need to fight unethical actions in your organization.
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