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.
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.
This article delineates a comprehensive playbook elucidating the optimal approach for companies to navigate the intricacies of pricing during inflationary times.
In this article, the author discusses how Business-to-Consumer (B2C) companies can apply tactics in pricing, sales, and marketing to edge out competitors and find success during times of volatility. Consumer business executives must continue to invest in sales and marketing budgets and apply them strategically. Similarly, leaders must know how to respond quickly to address and capitalize on changing consumer spending behaviors, as the author explains.
The question of the right pricing model is a topic of heated and controversial debate in the pricing community. There is no simple answer to this question - but here is what you can look out for.
An inauspicious start to the year has been especially troubling for high-tech manufacturing, software and services companies. The uncertainty in the economy right now is a universal burden, but high-tech firms that have spent more than a decade riding the wave up are suddenly faced with tough decisions and sizable threats to the top- and bottom-line. In this article, we uncover how AI and data science can help companies capture more margin and revenue despite external economic challenges.
At the start of each year, most commercial teams are looking to get a running start on strategic initiatives with price and profit improvement. However, before pursuing quick wins, you should ask your commercial teams these key questions: how effective will this strategy be in the long-term when economic cycles shift, are sales teams well-equipped to communicate these changes in a way that is fair to customers, and what would the impact of these changes be on long-term customer satisfaction?
Often, pricing strategies waste potential because they price products purely based on value. This article explains why this strategy falls too short and how behavioral pricing can open up additional potential for your pricing strategy.
Economic conditions are shifting fast, and an indiscriminate approach to pricing will not be a viable performance-enhancing lever in the foreseeable future. Consumer product (CP) companies will need to embrace a more structured, disciplined, scientific, and surgical approach to pricing. We call it “Precision Pricing.” The basic principles and practices presented here will help you navigate the next economic cycle more confidently from a pricing perspective and will put your organization on a path to building differentiated capabilities that will serve you well in the long run, as the authors explain.
Every commercial leader understands the effort that goes into setting the right price, so it’s important not to overlook some basic actions to mitigate the risk of falling short of your goals. In this article, the author outlines three critical steps for determining the effectiveness of your pricing initiatives.