Good negotiation is a commendable talent, but businesses need the skills to deal with good negotiators. Protecting your profitability from good negotiators requires ardent compliance to pricing policies, a flexible pricing infrastructure and the ability to say “no”.
Far from being the first to take action, a true price leader is able to consistently execute pricing actions that result in the desired effect. Much like in a game of chess, a pricing leader devotes the time and resources to understanding the motivations and aspirations of its competitors and to building the skills necessary to think several pricing moves into the future.
Singapore: July 18, 2012 - Pricing Solutions Ltd., a leading consulting firm specializing in pricing strategy and well known for its World Class Pricing ™ Methodology and Price + Value Insights™, is delighted to announce the opening of its Asia Pacific Headquarters, located in Singapore.
We find that companies often treat bundling as purely a marketing tactic versus a component in a broader pricing strategy. It is not uncommon for companies to incorporate terms and features into a sale without understanding their inherent value.
On May 4th the Canadian government officially stopped production of the penny, and will now be using "Swedish Rounding". There may be significant implications for pricing, after all a 1% improvement in price leads to a 12.5% improvement in corporate profitability for the average company.
Cost based pricing is relatively simple. The simplicity of cost-based pricing is what attracts many companies. But we think companies would benefit from slowing down before adopting such a pricing strategy.
The threat of commoditization is a reality for many marketers. We discuss pricing strategies that help marketers set prices to capture value.
Pricing Solutions is proud to sponsor the Pricing Management course under professor Vinay Kanetkar at Guelph University. In the past several years we have awarded a $500 prize to the best term paper. Congratulations to our 2011 winners!
Pricing low to gain volume is the oldest move in the pricing playbook. When does the price go so low that it communicates a lack of quality?
Pricing low to gain volume is the oldest move in the pricing playbook; the laws of economics say that as you lower price, volume will go up. Therefore many companies that want to dominate a market, or are in a rush to grow in a new market, will use low prices to achieve their goals (e.g. Walmart, Dell, Private Label).
