Many companies make the mistake of keeping their pricing strategy sedentary as they expand to different markets. However, there are many types of robust pricing research that your business should conduct before entering new markets. In this article, the author explores the importance of one of the most critical elements of this research: psychological pricing in your target market.
Stephan M. Liozu is Chief Value Officer of the Thales Group (www.thalesgroup.com). He is also an Adjunct Professor & Research Fellow at the Case Western Research University Weatherhead School of Management. He holds a Ph.D. in Management from Case Western Reserve University (2013), is a Certified Pricing Professional (CPP), a Prosci® certified Change Manager, and a Strategyzer Business Model Innovation Coach. He authored three books, Dollarizing Differentiation Value (2016), The Pricing Journey (2015) and Pricing and Human Capital (2015). He sits on the Advisory Board of LeveragePoint Innovation and of the Professional Pricing Society. He is a Strategic Advisor to 360pi, The Kini Group, and PriceSenz. He can be reached at sliozu@gmail.com.
: Despite the proven positive impact that pricing has repeatedly demonstrated to have on profits and revenues, many companies are still hesitant to employ pricing strategies and improvement for fear of customer loss. In this article, the author presents three things pricers should focus on in order to build the confidence needed to minimize the risk of customer loss while improving pricing strategy and profitability
In this article, the author examines several high-profile, strategic pricing movements and strategies implemented by companies in Q3-Q4 2017.
In this article, the author examines how Apple’s pricing strategy with the recent release of the iPhone X crosses an important threshold in consumer pricing. Why did Apple take this risk? As the author explains, Apple is using a premium price to set an expectation of excellence in consumers’ minds.
This medical industry specific article provides valuable insight on the impacts of price transparency on pricing strategies in all industries.
In this article, the author explains why he recommends Exchange Value to Customer calculations according to economic factors, rather than weighted average benefits, when pricing in industrial markets. This industrial markets specific example provides valuable pricing questions and insights that can be utilized by pricers in multiple industries.
In this article, the authors explore five key steps to sales excellence that will not only help you maintain pricing structure in the sales force but also increase profits and revenue through sales maturity. These steps cover sales strategy, market approach, sales structure, margin management and controlling/remuneration.
In this article, the author examines why profits in the food delivery apps industry have begun to plateau, despite the level of product innovation and venture capital funding that launched these companies, and also provides pricing strategies that these apps can use to jumpstart revenues and increase market share.
In this article, the authors explore proven, successful strategies for discounting profitably in B2B industries.