Archives tagged: value-based pricing
I recently fielded a question from a former client who was looking for advice on how to raise the price of a…
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Milton Friedman must be turning over in his grave. 49 years after penning an op-ed in the New York Times on the…
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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.
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Consultancies, he says, are focusing on lowering costs rather than driving value. “In any industry, when the basis of competition becomes efficiency versus innovation and new solutions, disruption lies on the horizon.”Innovating the World of Management Consulting
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?
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Because the exchange value approach examines the focal product against its next nearest competitor from the viewpoint of a specific market segment, it creates a focused picture of how an offering is likely to be evaluated by that specific segment. If more segments and competitors are to be considered, more models of the Exchange Value to Customer are needed. This leads to better and more accurate pricing on a segment-by-segment basis.
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“Strategy consultant” is a job title that is can mean everything and nothing. It’s no surprise that people have trouble understanding what skills are necessary for a strategy consultant, let alone what the role even normally entails.
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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 Treating pricing as a verb, not a noun, applies pressure to the management of pricing decision making. But who makes pricing decisions? …
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.
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