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7 Pricing Mistakes To Avoid: Data-Based Insights from Salesforce, Uber and Kraft | Forbes

One of the biggest mistakes I’ve seen executives make over the years is not spending enough time thinking about their pricing models. They think about price, but not creatively enough about pricing model, which is more about how you package your prices.

In an interview with Anil Kaul, the CEO of Absolutdata, which helps big companies like Kraft, SAB Miller, Hilton and Royal Carribean determine pricing strategies, one major theme emerged. Put the customer first. It should be obvious, but your pricing is less about your profits and more about meeting the customer’s needs in a fair way.

So the right pricing model and price means that a consumer intuitively gets your value proposition.

But what if you screw up? Is there any way to avoid the kind of basic pricing mistake that has sunk many a company?

“Pricing is one of those things that till you go and make the change you don’t know what will happen. You go in with a lot more confidence if you have data,” says Anil Kaul, the founder and CEO of Absolutdata, a San Francisco-based firm with offices in Singapore, the Middle East, India, and the United Kingdom. Founded in 2001, Absolutdata now has more than 450 employees.

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7 Pricing Mistakes To Avoid: Data-Based Insights from Salesforce, Uber and Kraft.

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