Archives posted in: Selling
In my upcoming book, preliminarily titled The New Invisible Hand, I’ll explore the most important technological trends affecting pricing and commercial strategy. One chapter will focus specifically on this issue: unpacking the promise and perils of dynamic pricing.
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With new competitors Norwegian Air Shuttle and JetBlue Airways entering the market, and the addition of smaller 200-seat planes, capacity on transatlantic flights has grown by more than 20% since 2013. That is comparable to a 4% capacity increase year for the past five years. Did demand increase at this rate as well? Expect pricing pressure to increase as new entrants attempt to muscle their way in.
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The key finding is that first generation entrepreneurs create a total of 25% of new businesses as an average for the 50 states. The authors pointed out that number exceeds 40% of new businesses in some states.
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On the other hand, getting people to open up their wallets and pay for a service, especially if they’ve become accustomed to using it for free, is hard. That’s true for pay-only services and it’s also true of the attempt to split the difference between free and paid: freemium.
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From a business strategy standpoint, Dollar General has positioned themselves to avoid direct competition with Amazon and Walmart, having successfully demonstrated a way to deal with the duopoly’s increasing presence in the retail market.
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A good pricing decision is two-fold: One defines an aspirational list price and a commercial policy that deducts from this list price known discounts, which lead to the expected target prices by customer segment and perhaps channel.
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In this article I will review some of the issues engaged and practices suggested by different authors, and then offer the Half-Gains Double-Losses rule to define the capturable value from the economic value to customer and therefore drive a price recommendation for guiding the pricing decision.
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The translated manual offers “early concepts of corporate social responsibility,” says Harvard Business School professor of management practice Dante Roscini. The manual also addresses “the issue of responsibility to the community and who you are as a person.”
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In this article, we look at how I have often seen pricing improvements measured and why I have some serious reservations with this common metric. I do this in the hopes of generating responses on how you accurately measured the effectiveness of pricing at your company.
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Product managers undoubtedly can be held accountable for the profitability of their portfolio. It is reasonably possible to make portfolio profitability a key performance indicator of a product manager. And it reasonable to make this part of their compensation package, thus holding them not only accountable but impacting their own economic condition based on the quality of the decisions they make.
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