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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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Prices are too high for our customers. Sales is giving away our product. We have heard these claims. Many times. These arguing points between the professionals who manage customers and those who manage prices have been fought over for aeons. Yet which group is right?
To address the issue of pricing and account management, let us leverage the research by Miller and Heiman into the creation of thought leadership in pricing.
Appreciating Adam Smith’s “Invisible Hand” contributions to market coordination based on supply, demand, and price, and understanding his argument of allowing markets to allocate goods and resources based on individual incentives, I pose the question, “How much value is created by managerial competency and organized business entities?” In other words, why do firms exist?
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To Western Politicians: We elected you to make decisions. Decisions require tradeoffs and compromise. Now do your job. U.S. and European countries…
Read More $700 is the price a couple would pay for the best seats to see Hugh Jackman Back on Broadway this month. With a runaway hit, producers have raised prices several times. Orchestra seats that were priced at $155 are now priced at $175. Premium seats that were priced at $250 are now priced in the range of $275 to $350, depending upon demand for specific performances. Their decision to use dynamic pricing has placed Hugh Jackman’s essentially one-man-show in the top earner position on Broadway with roughly $1.5 million in ticket sales for the week ending November 20th, 2011.
With pricing success like this, one can suspect that more executives may benefit from considering the value of dynamic pricing.
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