As 2023 begins, many B2B companies are still experiencing the effects of the supply chain crisis that defined much of 2022. Unfortunately, there is no single one-size-fits-all solution to tackling the pricing implications of the current global supply chain crisis. However, by applying the pricing principles in this article, B2B companies can deliver better results in the near term and be better prepared for future supply chain challenges, as the authors explain.
Strategic partnerships go hand-in-hand with strategic pricing. As the explosion of electronic devices and demand for them continue, and as the shortage of semiconductors continues to exacerbate issues, it’s never been more apparent that all companies need to adapt by understanding their customer and building value beyond pricing. Although focused on the semiconductor industry, this article highlights post-COVID pricing challenges and potential solutions for many sectors.
After months and months of COVID induced lockdowns and restrictions, many parts of the UK were recently able to celebrate “Freedom Day,” as the government removed almost all remaining restrictions on its citizens and enabled businesses to dial-down some of the social distancing measures in place for the last 18 months. In this article, one UK pricing expert examines what this means for restaurants, cinemas and other experience economy-based businesses looking to attract customer and regain much needed revenue.
With wide-scale vaccine rollouts well underway, our entry into a post-pandemic world is already a reality for some and an inevitability for others. Those within the experience economy who establish strong pricing strategies by capitalizing on their pricing power, gaining consumer confidence, considering consumer behavior, and identifying value drivers will maximize profits, overcome pandemic-related losses, and set the groundwork for long-term success. One thing is for sure – there’s no time to lose, as the author explains.
In today’s post-pandemic, rising inflation economy, most companies realize a need for a price change. If you are considering a price increase today, which you likely are, here are the seven key factors for enabling a price increase to succeed.
There is a lot of uncertainty in the system right now. Things are improving, but global supply chains are fragile. And it is quite possible that the most recent stimulus bill will create even more e-commerce demand, which will send even more products into this already scrambled supply chain. There are opportunities for any company that can adjust to the present environment, as the author explains.
As the economy begins its post-COVID recovery, coupling disrupted supply chains with increasing demand and rising materials costs, managing pricing dynamically and doing so ethically (and with the best interest of supply chains) is important. We cannot forget that short profits might damage long-term reputation and credibility, as the author explains.
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.