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We all want to hire, or work on, talented teams. But how much time and resources should we devote to bringing in “star”-level talent?
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“If you know the enemy and know yourself, you need not fear the result of a hundred battles.” –Sun Tzu, The Art…
More In free markets, competition is the norm, not the exception, and that competition will limit your latitude for pricing. When competitors lower prices or new competition enters at a lower price, many a novice manager’s gut reaction is to lower prices—but the cost of price concessions may be higher than the cost of customer losses. Experience will temper these beginner instincts over time, but there must be easier and less costly ways to identify the proper reaction to competitive price moves… Enter the Strategic Pricing Reaction Matrix.
More “Do not do what someone else could do as well as you. Do not say, do not write what someone else could…
More Rebates, discounts, and other forms of incentives are common parts of customer loyalty programs. Done right, they improve the profitability of the…
More Innovation is a great thing: it sparks our creativity, fills needs or streamlines our lives, and fuels our economy. But even the newest-to-the-world products and services face competition. We need to be able to gauge the market outlook for any of our potential offerings, from the most evolutionary to the most revolutionary…
More How can a marketing campaign cater to individual personality types while adding brand loyalty and increasing customer engagement? Take a look at how Starbucks is managing.
More Consistently profitable decision-making isn’t based on luck. It isn’t based on being or having the smartest person on your team, either. It’s…
More How are leading companies getting pricing done? What kinds of challenges should the pricing function address? Who should be engaged, and with what sorts of tools and techniques? Find out more in this interview with an industry leader.
More We’ve explored what decoy pricing is and how to recognize it, now let’s get into how to do it profitably.
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