Archives tagged: Pricing Done Right
How should executives frame their pricing initiatives and is it still relevant today? Pricing Initiative Smorgasbord Since publishing Pricing Done Right, we…
More
In order for any pricing improvement project to deliver its potential value, price governance and pricing culture must intersect. Some may want to dismiss this as “too much to take on,” but the results of addressing fundamental questions from both sectors creates the difference between the companies that slog-along and those that thrive.
More
Learning from companies in other countries, we find common imperatives to undertake in response to price volatility. These imperatives are related to building the organizational ability to flexibly adjust prices in response to changing market environment.
More
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.
More
If you can successfully explain why implementing a value-based pricing strategy will be instrumental in moving your company towards their goals and targets, you should be in a pretty good position to get buy-ins.
More
I have seen three or four multinationals, and four to six local suppliers sell the same core product in the same country, at roughly the same price. Because there is so much competition in these markets, customers ask for discounts and drive suppliers to bid against each other to win their business. It is hard to make a stable supplier business in these situations. How can one win? And, what does value-based pricing have to contribute to these markets?
More
What better way to attract customers than with a discount? I’ll tell you what is a better way: Redefine your business into something customers actually want to engage as a first resort, not as a cheap resort.
More
Our own research—that of Homburg, Jensen, and Hahn—as well as research by Hinterhuber and still other works by Liozu, repeatedly indicated firms that engage sales, marketing finance, and pricing leaders in pricing decisions outperform those that don’t. At this point, we may even call this settled managerial science.
More What can sales managers do to reduce the risk of account loss? According to their research, putting top salespeople on the account doesn’t do the trick at all. Rather, putting a person familiar with the account’s industry on it, even if their past sales performance is average or even below average, can almost eliminate the risk of account loss.
More CEO’s are responsible for organizing productive operations, and ultimately generating revenue. When it comes to their pricing responsibility, CEO’s manage pricing decisions by defining the culture, structure, and routines necessary for producing sound decisions that align with their strategy.
More