Make Pricing Your Ally: How to Put Value Back on the Menu
When building a high impact pricing strategy for a restaurant business, the goal is to optimize overall long-term profitability. The right pricing strategy, backed with the right model, increases overall returns by improving the complex interplay between guest count, menu design, and ticket size, as the author explains. Although focused on the restaurant industry, this article provides pricing strategy and best-practices that can be employed by pricers in multiple retail, consumer goods, and related industry sectors.
Make Value Realization A Strong Competitive Advantage
It is no longer a question of if and when we will face a recession. It is a matter of how bad it is going to get. One of the recession busters is to make a decisive and bold move in customer value management (CVM). This is step number one, and it is a matter of investing in the right process and platform in the next 30 to 60 days, as the author explains.
Pricing and Sustainability: the Next Challenge for the Pricing Profession
In a joint effort, PricingForThePlanet and the Pricing Professional Society (PPS) conducted an insightful survey/workstream focusing on the involvement and capability in monetizing sustainability initiatives. The results and analysis are included here.
Tracking Rebates Can Be Tricky
If you have rebates, then you must have skilled, curious, intelligent people managing your rebates. Furthermore, you will need appropriate tools to manage rebates. For many companies, that will involve software. Finally, you must be intentional and strategic when managing rebates. Otherwise, rebates are sure to trip you up, as the author explains.
A bigger, bolder vision: How CROs are propelling growth from the C-suite
To navigate constant market changes and come out on top, organizations need to be agile, strategic, and, most importantly, sustainable. Sales and marketing can no longer remain siloed, but instead should be aligned with the common goal of a better customer experience and, therefore, revenue generation. Ultimately, a successful CRO can harmonize these efforts and grow from a small start-up to a thriving, scaled-up enterprise, as the authors explain.
Profit Starts with Packaging and Pricing
It is time to shift from “growth at all cost” to “sustainable profitable growth,” or as we like to call it: “better growth.” To fight increasing sales cycles, lower win rates and decreasing NRR, packaging and pricing should be the first point on the agenda of your next board meeting, as the authors explain.
How to Offer Discounts While Maintaining Margin Control?
How can businesses offer discounts while maintaining margin control? The idea is to offer discounts to the public while effectively controlling those discounts based on margin calculations conducted by your team. In this article, the author presents a model for a tool to calculate the maximum sales discount feasible while still maintaining a minimum expected margin.
The Pitfalls of Penetration Pricing
In the current post-pandemic, high inflation economy, organizations are consistently looking for pricing strategies that will give them a competitive advantage. Penetration pricing is one that people may default to in this current economy, but it may not be the best strategy. In this article, the author explains the pros and cons of penetration pricing and presents factors for pricers to consider when implementing this strategy.
Three Ways to Get More Value from Your Pricing Process with Generative AI
Open AI systems have a major role to play in pricing. But, for now, human experts are still needed to wield this powerful new tool, as the authors explain.
Lessons Learned from the Reddit API Pricing Kerfuffle
Many companies are implementing API strategies and will need to price API access. Many more want to know how “their data is being used in a world where AI is making data of all kinds much more valuable. One company that recently tried to implement API pricing changes is Reddit. Reddit had good reasons to implement API pricing, and they did say what these reasons are, but they made several mistakes that have led to significant user pushback. Given their recent challenges, what can we learn from the Reddit experience?
Economic Rollercoaster: Riding the Waves of Uncertainty with Price Agility
Author: Kirk Jackisch As we venture into the second half of 2023, businesses continue to face a range of pricing challenges that require careful navigation and strategic planning. Businesses should act now and take a proactive approach to pricing strategies in order to position themselves for success. In this article, the author presents challenges that businesses are likely to face in Q3 and Q4 2023 as well as strategies to overcome them. Kirk Jackisch is the Global President of Iris Pricing Solutions. He can be reached at kjackisch@pricingsolutions.com. The Pricing Advisor, July 2023 DOWNLOAD PDF VERSION As we venture into the second half of 2023, businesses continue to face a range of pricing challenges that require careful navigation and strategic planning. The landscape is influenced by factors such as inflation, interest rates, wage trends, and market dynamics, which demand a proactive approach to pricing strategies. In [...]
Excerpt from “Pricing Architects”
Author: Frederico Zornig This article in an excerpt from the book "Arquitetos do Pricing" (The Architects of Pricing), which has recently been translated and released in its first English edition. In this book, the author interviews 20 senior pricing professionals in Brazil representing multiple industries and global corporations. Frederico Zornig is a founding partner of Quantiz. He has over 30 years of professional experience with the leading companies in various industries in Brazil, the United States, and Latin America. He can be reached at fzornig@quantiz.com.br. "Pricing Architects" (English version) is available for download here. The Journal of Professional Pricing, June 2023 DOWNLOAD PDF VERSION Preface: Pricing and Revenue Management have become top priorities for the biggest and best companies in the market. It is curious to think that fifteen years ago, when Quantiz was founded, the CEO of a large company discouraged us from [...]
Download Recent Editions
Download past editions of the Pricing Advisor newsletter and the Journal of Professional Pricing. For a full selection of past editions, visit our PDF Archives page.