Archives posted in: Pricing
The group Georgette Sand is taking a stand against price discrimination directed at female consumers. How do I, a woman and a pricing professional, respond to gender based price discrimination?
More Value-based pricing aims for prices to reflect the value customers associate with a product or service offering. Simple enough to state, but what does this mean?
More The banking services sector is one of the most profitable sectors out there. It is not uncommon to earn an ROE of anywhere between 40%-60%. And as we all know, a 1% increase in price can lead to an 8% increase in profits.
So how do we ensure we get the most profits out of banking services? Are there any secrets? I spent 28 years of my life in the banking services sector and here is what I learnt.
More Why does a paper published in 1965 have customers calling looking for discounted prices? And when are these requests reasonable? Anirban Sengupta discusses.
More In Econ 101, we are taught that lower prices lead to higher sales volumes. In sales, we hear directly from customers that the prices are high and they want a discount. And in marketing communications, we learn to “sweeten the offer” in promotions and advertising. But is price really the most important driver to customer purchasing behavior?
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 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 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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