Archives tagged: Uber
To embrace creative destruction is a choice. We can either lament that we fell on the destruction side of market forces, or we can throw ourselves into the creative side of market forces. When market forces destroy your industry, embrace it as the opportunity to create a new path — don’t wait for some third party to have pity on you and fix it for you. Fix it yourself.
More High barriers to entry must be keeping competitors from providing alternatives to off-patent generic drugs. What could be the source of these barriers to entry?
It isn’t the lack of know how. Many firms are able to produce chemicals, even specialized chemicals in the life sciences. And, that is what a drug is: it is a chemical. As observed in animal health care, agricultural chemistry and many other specialty chemical companies: competition keeps prices relatively low. Yet, in human life sciences, there is insufficient competition.
Clear communication about surge pricing is good customer service but without conveying its benefits, Uber is increasing the price sensitivity of its riders. This is a well-known effect of overemphasizing price in marketing communications. But price is only one reason that customers choose Uber. Why not focus on the benefits of surge pricing?
More Companies that are just beginning to build a pricing team should initially focus on defining the first year’s problems the team must address. Is it a price execution, discounting, setting, or strategy challenge, which most needs to be addressed? In some cases, the performance metric should be something correlated to profits, revenue, and share.
More Innovation is clearly on many corporate agendas. And it is not surprising. Companies don’t grow by cost cutting alone. They grow through innovation. But how? And what are the implications of this innovation driven agenda?
More What makes a first-time buyer select a specific packaged good brand or product from all the other products on the supermarket shelf or Webpage?
More To achieve results in business transformation, it is imperative to bring together subject-matter experts (SMEs) from different parts of your company who become your change leaders. Challenge them to use a clean-sheet-of-paper approach, or a so-called ‘green field’ approach, to develop a ‘genius’ solution. Read case studies of how.
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