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IDEX, a global applied solutions provider, had a mixed Q3 2024. Revenue rose 0.6% to $798 million while earnings before interest and taxes fell 6.1 % to $168 million over the same period last year. A review of IDEX’s 30 October 2024 earnings call and associated financial reports provided insight regarding the importance of pricing on performance. IDEX is a diverse and complex business. It has three reporting units, Fluid & Metering…
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Economic price optimization has a lot to tell us, but not necessarily the price which optimizes the firm’s profits. Economic price optimization relies on a defined demand curve. Unfortunately, defining the demand curve with sufficient precision and reliability for decision making can be done for only a subset of challenges. So if this method is not useful for pricing in many cases, what use is it?
Read More When it comes to personal selling, the 21st century sales representative is a different animal from the 20th century version. The 21st century salesman is a professional consultant who should be far more interested in establishing a long-term relationship with the customer based on giving the customer advice on how best to buy. Because the sales rep. is so crucial to the success of the firm, it is mandatory that she or he be properly motivated.
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“We’re looking to make progress quickly, either fail fast or succeed fast.” Daniel Hullah, Venture Capitalist Most businesses fail, but some succeed…
Read More Every Christmas my son comes home and does his Christmas shopping at the Best Buy store about 5 miles from our house. This year he discovered his favorite Best Buy (BBY) store was closed and out of business.
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