A note from Iris Pricing Solutions President: Kirk Jackisch 3 Ways Businesses Can Optimize Prices in 2024 As 2024 progresses amidst global uncertainty, businesses face significant challenges. Recent years have witnessed escalating costs and diminishing profit margins, prompting frequent price increases, often occurring multiple times annually. Despite this, businesses have increasingly embraced robust price [...]
Background Our client is a $50M+ professional association and one of the largest hosts of industry tradeshows in North America, attracting 50,000+ attendees. Renowned as one of the most pivotal events in the industry, vendors value this tradeshow for its outstanding influence on sales, media coverage, and overall business success. The Challenge Our client, [...]
By: Benjamin Garden, VP, Pricing Analytics In the rapidly evolving business landscape, effective price management is a critical factor in determining a company's success. Mastering this skill involves a blend of strategic insight and adherence to ethical pricing practices, both of which are pivotal for achieving sustainable profitability and ensuring customer satisfaction. Customers recognize [...]
Embark on a journey with one of North America's largest quick-service restaurant giants, with over 3,000 franchised locations and revenue surpassing $5 billion. Fueled by strategic pricing decisions, their success faced a challenge when certain price hikes led to a dip in market share. In response, our client sought the expertise of Iris Pricing [...]
By: Savannah Dixon, Pricing Analyst, Iris Pricing Solutions In the constantly changing world of business, discovering the ideal pricing strategy is critical to unlocking untapped revenue potential. It's a puzzle that can make or break your success, and the choices can be daunting. In this article, we explore four fundamental strategies: Cost-Plus Pricing, Value-Based [...]
By Kirk Jackisch: President, Iris Pricing Solutions As we venture into the second half of 2023, businesses continue to face a range of pricing challenges that require careful navigation and strategic planning – covered in our previous article, The Current State of Pricing. The landscape is influenced by factors such as inflation, interest rates, [...]
Background Our client is a $1 billion revenue Products and Solutions provider, offering customized support to customers across many different industries. With a high-value, solutions-based offering the client had a significant degree of pricing power that was underutilized. The client had already made a significant investment in a segmented pricing strategy to include a [...]
Pricing is a critical aspect of any business, and for Chief Marketing Officers (CMOs), it plays a vital role in the success of a company. A well-crafted pricing strategy can impact the entire marketing mix, and it is essential to understand the importance of pricing for CMOs in today's competitive business landscape. The Underestimated [...]
By: Benjamin Garden, Director of Pricing Analytics In today's hyper-competitive marketplace, businesses are continually seeking new ways to increase revenue and maintain a competitive edge. One approach that has emerged as a promising solution is Price Optimization using AI algorithms. With the ability to analyze vast amounts of data in real time, AI algorithms [...]
Navigating the Ethical Pricing Conundrum Pricing is a crucial aspect of any business, as it determines the profitability of a company and its ability to remain competitive. However, when setting prices, it is important to consider not only economic factors, but also ethical considerations. In this article, we will look at the various ethical [...]
