Tag: Power of Pricing

Power Pricing In The Age Of AI And Analytics | Forbes

Power Pricing In The Age Of AI And Analytics | Forbes

Recent advancements in technology have made dynamic pricing strategies even more accurate and effective. A large retail bank using pricing algorithms is now able to tailor deposit rate offers by observing a customer’s checking account activities. The algorithm, detecting deposit flows between the bank and a secondary savings bank, can take into account the nature […]

Never An Afterthought: Pricing Is Strategic to Business Success | ExpertClick

Never An Afterthought: Pricing Is Strategic to Business Success | ExpertClick

Strategic Pricing Maximizes Financial Well-Being Dr. Maynard Brusman, a consulting psychologist, executive coach, and emotional intelligence/mindful leadership consultant, notes, “Pricing is the single greatest lever you have to improve profitability. Strategic pricing sets a product or service’s price based on the value to the customer or on competitive strategy. Many companies use a Good-Better-Best pricing […]

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. […]

Pfizer’s Logical Approach to Price Increases | Strategic Pricing Solutions

Pfizer’s Logical Approach to Price Increases | Strategic Pricing Solutions

Last week Pfizer announced increases in the list prices of more than 40 drugs for the second time within the year.  The increases average 9.4%.  Although there could be some political backlash, the pricing strategy is logical.  Pfizer is recognizing their pricing power, they are incorporating buyer psychology into their process, and they are taking […]

Different Pricing Strategy For Different Clients? | Thinkwealth Magazine

Different Pricing Strategy For Different Clients? | Thinkwealth Magazine

One question that comes up frequently regards pricing strategy is how to know what price is the right price to charge for a given product or service. It is possible to have different pricing for different clients? This comes up so frequently it might be helpful to focus on a specific pricing strategy. This is an important […]

How to Segment When All Customers Look Alike | Strategic Pricing Solutions

How to Segment When All Customers Look Alike | Strategic Pricing Solutions

Customer segmentation is a simple concept – identify groups of customers who tend to have similar levels of price sensitivity and set distinct prices for each group.  Unfortunately, many companies either think all their customers are the same, or they don’t have enough information to create segments.  In particular, we often see this in retail […]

3 companies with exceptional pricing power | Motley Fool Australia

3 companies with exceptional pricing power | Motley Fool Australia

There is an easy starting point if you want to invest like Warren Buffett: dedicate a large part of your time finding companies with exceptional pricing power. In Buffett’s own words “the single most important decision in evaluating a business is pricing power”. This is because companies that can raise prices without losing customers can […]

Pricing Roles in the Legal Profession 2018 | Totum Partners

Pricing Roles in the Legal Profession 2018 | Totum Partners

The pricing function is still fairly new in the legal sector, but its fast development as a standalone discipline is a particularly notable shift of recent times. While law firm management teams may be aware of the rise of pricing teams, it is more of a challenge to understand exactly how pricing departments have developed […]

Satisfied Customers Increase Your Pricing Power | Strategic Pricing Solutions

Satisfied Customers Increase Your Pricing Power | Strategic Pricing Solutions

I recently played golf with two doctors, following which we discussed customer satisfaction and customer ratings.  One of the physicians, let’s call him Dr. Feelgood, expressed surprise that anyone would select a doctor based on ratings, and he lamented that negative ratings often reflected intangibles like staff friendliness and wait times, rather than quality of […]

U.S. fund managers brace for trade war with focus on pricing power | Reuters

U.S. fund managers brace for trade war with focus on pricing power | Reuters

A trade war between the two countries would lop 0.7 percent off of the U.S. GDP and push inflation up 0.1 percent, according to estimates from MSCI. That, in turn, would sink U.S. stocks by about 5 percent, the firm estimates, a fall it says may already be priced into the market. Should other countries […]