Tag: Behavioral Economics

The War Between Car Sharing And Rental Companies Just Escalated. Here’s Why You Should Care | Forbes

The War Between Car Sharing And Rental Companies Just Escalated. Here’s Why You Should Care | Forbes

Since you mentioned consumer protection, let me ask the question: What’s in this for customers? There’s a federal law that says a car rental company can’t rent a car to a customer — or even sell a car from its fleet – that has an open federal safety recall. Peer-to-peer car rental customers don’t comply […]

The Old-School Pricing Technique That Still Works | Kopitiam Bot

The Old-School Pricing Technique That Still Works | Kopitiam Bot

According to some source, Amazon is slowly phasing out list prices because they’re arbitrarily high. In most cases, the “discount” price is the real price, so why bother pretending otherwise? It’s hard to believe that Amazon would take such a radical step unless they were fairly certain that across-the-board discounting was no longer driving higher sales. […]

When Cost-Plus Pricing Is a Good Idea | Harvard Business Review

When Cost-Plus Pricing Is a Good Idea | Harvard Business Review

The Strategic and Tactical Benefits of Cost-Plus Pricing Despite these limitations, there are sometimes strategic and tactical reasons to use cost-plus pricing. When implemented with forethought and prudence, cost-plus pricing can lead to powerful differentiation, greater customer trust, reduced risk of price wars, and steady, predictable profits for the company. No pricing method is easier to communicate […]

Pricing Perogative: Most Companies Call Pricing a High Priority, But 85 Percent Say They Have Significant Room for Improvement | Bain & Company

Pricing Perogative: Most Companies Call Pricing a High Priority, But 85 Percent Say They Have Significant Room for Improvement | Bain & Company

Bain & Company conducted a global survey of sales leaders, vice presidents of pricing, CEOs, CMOs and other executives at over 1,700 companies, collecting their self-rating of 42 pricing capabilities and outcomes to understand which pricing capabilities matter most. The analysis showed that top performers are more likely to exceed their peers primarily in three […]

A Survey of 1,700 Companies Reveals Common B2B Pricing Mistakes | Harvard Business Review

A Survey of 1,700 Companies Reveals Common B2B Pricing Mistakes | Harvard Business Review

Pricing to the Average Is Always Wrong One-size-fits-all pricing actually fits no one. Yet it is not unusual for sales executives to admit that their ability to tailor prices at the customer and transaction level is rudimentary, or that they are not even aware of how much margin they make on deals. By contrast, more-advanced […]

Is Pricing Killing Your Profits? | Bain & Company

Is Pricing Killing Your Profits? | Bain & Company

Poor pricing practices are insidious—they damage a company’s economics but can go unnoticed for years. For example, a major industrial goods manufacturer struggled with low profit margins, relative both to competitors and its own historical performance. It traced much of the cause to a mismatch between its sales incentives and pricing strategy. The manufacturer was […]

What is low-code development? A Lego-like approach to building software | ITworld

What is low-code development? A Lego-like approach to building software | ITworld

Grabbing Slurpee sales data to go 7-Eleven turned to low-code to supply product pricing information to regional managers who visit as many as 10 stores a day. The convenience store retailer, which operates 10,000 retail locations in the U.S., constructed a field price optimization app that enables its regional managers to access pertinent sales, says […]

How did you get that Grab ride? | Channel NewsAsia

How did you get that Grab ride? | Channel NewsAsia

INNER WORKINGS OF DYNAMIC PRICING The engineering chief also helped demystify some aspects of dynamic (or surge) pricing, which was introduced here about 10 months ago. He noted that before this feature, pricings were “flat” for drivers in Singapore but, since then, taxi drivers are on average earning 20 per cent more than previously. On […]

A few musings from 2017 that still hold good | GulfNews.com

A few musings from 2017 that still hold good | GulfNews.com

Aspirational real estate pricing My friend Jonathan Miller came up with this phrase three years ago and it continues to entertain. Listings for $25 million going for less than $10 million, or a $135 million listing selling for $100 million below the asking price! Before you mock the practice as egotistical stupidity — and surely […]

Car-sharing operators face roadblock from ride-hailing firms Grab and Uber | TODAYonline

Car-sharing operators face roadblock from ride-hailing firms Grab and Uber | TODAYonline

STAYING AHEAD OF THE COMPETITION Car Club has taken various steps to stay ahead of the curve, including rolling out a loyalty rewards programme allowing members to earn NTUC LinkPoints when they use the firm’s cars. The company has also marketed its membership perks “in a bigger way” in the last year or two, said […]