People often ask us about the worst pricing decisions we have seen. There is a lot of bad pricing out there. But most of it is not so much the result of a bad decision as it is the result of ad-hoc pricing decisions, “me too” pricing or people inadvertently stumbling into a price war, as the author explains.
Digital pricing techniques have the potential to generate sustainable profits for a wide range of businesses, but using traditional pricing models is not an effective method for monetizing innovative solutions based on digital technology. In this article, the author explores examples of companies who have developed pioneering pricing solutions for digital and IoT technology offerings, and provides best practices for developing digital technology pricing strategies.
The purpose of this paper is to briefly present the two commonly-used business model canvases and to introduce the Pricing Model Innovation Canvas that can be used by pricing, innovation, and marketing teams to better frame their pricing model(s) and to make better pricing decisions.
Pricing transformations are a big topic in the business world, but many companies do not understand how to bring such a transformation into fruition. In this article, the author explores the key cultural and organizational changes required to implement meaningful pricing change.
There are hundreds of vendors, technologies and services that use analytics, but deciding on what the right solution is for your business can be difficult. In this article, the author presents 6 practical tips for selecting the right analytics solution. This article is specifically relevant to pricing with the continued growth of Big Data applications and the importance of consumer analytics in pricing decisions.
What do executives get wrong about pricing? They treat it as a noun not as a verb. Treating price as a verb drives executives to define the culture, organizational structure, and process for making pricing decisions. Leading firms do this. Failing firms don’t, as the author explains.