Get Over Your Fear Of Pricing.

Rich Gee Group

Whether you’re established in business or just getting started, you want your pricing to position you as a leader – not as a follower. A confession — I used to stay safe and secure (comfortable) by keeping my prices low. The post Get Over Your Fear Of Pricing.

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The price is… er, ah, the price is ah…

Strategy Driven

The price of whatever you sell carries with it a discomfort for most salespeople. They’re hesitant to bring up the price because it’s the final element in completing any transaction – or so they think. Actually, price or fee or rate is a logical progression of a presentation.

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Trending Sources

3 Ways to Raise Prices: The Grand Slam of Your Pricing Strategy

The Kini Group

For some reason, today’s typical business wisdom is “decrease prices and gain share.”. Everyone’s advising companies to lower prices and then lower them some more. The reasoning follows that if businesses become the lowest-priced option in the market, they can beat their competitors.

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The Price of Core Values is 80 Dollars

N2Growth Blog

In no time I was in discussion with my driver, not about the price (which I was ultimately prepared to pay), but about the fairness of what I have unintentionally agreed upon. I recently spent a couple of days in New York.

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The Price Leaders Pay for Silence

Lead Change Blog

But This is Their Job! Have you ever heard a supervisor say something like, “Why should I have to encourage people? This is their job isn’t it?”. Have you ever thought those words yourself?

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Your Competitor Just Announced a Price Increase. What’s Your Next Move?

The Kini Group

You’re going about your workday when you come across a piece of interesting information from a team member – your competitor just announced a price increase. You probably have a few immediate reactions in this order: “Why are they increasing prices?”. Wait, should we be increasing prices?”. Many companies choose to just sit back and use a competitor’s price increase to gain share. This price following strategy benefits your business in three ways: 1. Pricing

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Managing Pricing for Commodity Price Volatility

The Kini Group

Commodity prices are more volatile than ever, and business leaders are only getting more anxious about the effects on their business performance. Unfortunately, these fluctuations can move quickly, and staying on top of changing prices often requires a lot of work. Hold your prices.

Boost Profitability with These 5 Different Types of Price Segmentation

The Kini Group

Pricing is one of the most powerful levers to pull for margin growth. Unfortunately, many companies stop once they have profitable prices set for each of their products. The businesses that take a few extra steps and see these prices through benefit from even higher margins.

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Price negotiation: 5+1 ways to win with purchasing managers

Bernd Geropp

Price Negotiation with Purchasing! As a small business owner in B-to-B you may find yourself struggling during price negotiations. But watch out: Don’t believe the 3 myths for price negotiations with purchasing managers. Example: You are prepared to reduce your price by 2%.

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Crude Oil Prices: "Random"? Hardly.

Coaching Tip

Last week's shocking spike in crude oil prices is +12% and counting, the biggest one-week gain in five years. Yet, it was a bigger cut than the market expected; plus, the fact that OPEC members came to an agreement at all was enough to play a role in soaring prices.

How You Can Get Proactive About Margin Leaks Using the Pocket Price Waterfall

The Kini Group

How much price are you really keeping from each of your sales transactions? A percentage point lost here and there can add up to thousands – if not millions – of dollars of lost pricing revenue, which comes straight off the bottom-line. The pocket price waterfall reveals how to do this.

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Leaders: The Price and Responsibilities of Freedom

Linked 2 Leadership

As a former POW in Vietnam, I know what it’s like to lose your freedom. In this picture above, my comrades and I, all former prisoners-of-war in Vietnam, are celebrating freedom on a “Hanoi Taxi” from being released at Hanoi in 1972. For more than five years, my comrades and I were locked in dark, [.]. Authentic Leadership Future Leadership Issues Leadership Lessons Learned Servant Leadership Values-Based Leadership 4th of July business Fortune 500 leadership lee ellis POW Team development

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Differentiation’s Arch Enemy: Price

In the CEO Afterlife

Last year, EU regulators fined P&G and Unilever to the tune of $456 million for price fixing laundry detergents in eight European countries. Regional underlings do not orchestrate an eight country price cartel. Non-strategic’ was the pseudonym price aggression.

What is the Price?

Kevin Eikenberry

Consulting Speaking Training Products KevinEikenberry.com About Blog Home Blogs I Like Leadership Learning Subscribe What is the Price? That’s certainly one form of PRICE but it’s actually so much more. What about The Price of Happiness? The Price of Life?

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Can You Look Professional Without Paying Professional Prices For Your Office?

Strategy Driven

You just finished reading Can You Look Professional Without Paying Professional Prices For Your Office? ! The post Can You Look Professional Without Paying Professional Prices For Your Office? Many things have changed in the world of business, but a few things have stayed the same.

A Refresher on Price Elasticity

Harvard Business Review

Setting the right price for your product or service is hard. In fact, determining price is one of the toughest things a marketer has to do, in large part because it has such a big impact on the company’s bottom line. What is price elasticity? Pricing Marketing Article

7 Responses to Low-Price Competition in Consulting

David A Fields

Do you lose consulting projects to low-fee competitors? How do you handle that threat to your business? Below are (almost) seven strategies to thrive when fees are taking a dive. Paella Consulting Associates is an advisor to the world’s crustacean industry.

How to Stop Your Customers From Fixating on Price

The Kini Group

Making this even more complicated is the rise of the availability of public pricing. There’s no bluffing when a customer can access an entire list of your and your competitors’ prices with a couple of keystrokes. Despite all of these factors working against you, giving your customers the pricing they want is never a good solution to this problem. In the long term, customers fixate on price more than ever and completely disregard product value. Pricing

The High Price of Ignoring Intuition

Your Voice of Encouragement

In our last office space, I had a private door to my office off the main hallway. I typically used that door for trips to the ladies’ room since it was closer than our main entrance.

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Great Engagement Doesn’t Have To Have A Big Price Tag

The Leadership Advisor

Employee engagement is critical to organizational success. Many leaders are finally letting that reality sink in. The contingency still lies with the cost. It is tough to calculate ROI on something as abstract as engagement.

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Market Basket and the Price of Vengeance

Modern Servant Leader

Arthur T. DeMoulas is a servant leader. We know this by the thousands of employees, customers and other stakeholders protesting his dismissal from the role of company president at Market Basket. However, according to most accounts, cousin Arthur S. DeMoulas and his side of the family seek vengeance against Arthur T. DeMoulas, for the perceived sins of his father. In fact, Arthur S. and his team refuse to accept an offer to buy him out, even though the ongoing boycotts cost them $10 Million / day.

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Supercharge Your Profitability Using the Price Waterfall Framework

The Kini Group

Every day you make complex decisions – which products and services to offer which customers, through which channels, for which prices. In fact, McKinsey estimates that 30 percent of the thousands of pricing decisions companies make every year don’t result in the best transaction price.

Does Customer Experience Trump Price?

Women on Business

When you go into a business, what’s more important to you: price or the experience that takes place? While you may be thinking, “I lean toward experience, but it won’t matter if the price is beyond what I can afford.” There is a line that separates price from experience. A lasting customer experience definitely outweighs price. Guest post by Sarah Hedayati (learn more about Sarah at the end of this post).

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A Message to Mylan’s CEO: Your Price Increase Wasn’t the Problem. Your Implementation Strategy Was.

The Kini Group

She’s enjoyed a 671% salary increase over the last decade while her company’s life-saving product, EpiPen®, has increased in price by 400% over the past five years. Did Mylan raise prices overnight, forcing buyers to scramble for cash? Why did prices go up? Pricing

Fort Worth’s Bike Riding Mayor Betsy Price Steers the City

Michael Lee Stallard

The surprise, however, is that this herd is on bicycles and its lead steer is their mayor, Betsy Price. Mayor Betsy Price mounts her bike each summer to lead “rolling town hall meetings.” A Fort Worth native, Price is knowledgeable and confident yet humble.

What Amazon Risks by Eliminating List Prices

Harvard Business Review

Welcome to Amazon’s bold new pricing initiative, which I’m calling the “In Jeff We Trust” strategy. The New York Times recently reported that Amazon is scaling back in mentioning list prices for products it sells. Pricing Competition Digital Article

The Apple Watch’s Big Pricing Problem

Harvard Business Review

That wide range of options results in a wide range of prices. But based on what I’ve read so far, I’d grade the Watch an A for ambition and a D for pricing strategy. Its pricing strategy, in contrast, will create major hurdles to long-term success. Marketing Pricing

Price-Sensitive Customers Will Tolerate Uncertainty

Harvard Business Review

When I help a company with their pricing strategy, the typical first day of an engagement entails the client company’s vice president saying with a grin: “So, how are you going to help us raise prices?” Uncertainty pricing is a powerful driver of new sales.

Store Brands Aren’t Just about Price

Harvard Business Review

More and more, I hear different twists of the same question from clients: Can emotion still influence buying behavior in world where the mobile internet, with real-time access to product reviews and price comparisons, is training consumers to shop purely on rational facts?

The Risks of Changing Your Prices Too Often

Harvard Business Review

Today’s technologies allow digital businesses (as well as a growing roster of traditional companies) to change prices frequently, even minute-by-minute in real time if they want to. It is not unusual for prices to change on sites like Amazon, Expedia, and Priceline several times a day.

The price of getting more for less

Chartered Management Institute

A friend of mine was furious with her boss. She felt she deserved a promotion, but instead of which she ended up with even more work, and no recognition. Essentially, the attitude of her boss was ‘I know the jobs market is difficult right now, so you are just going to have to put up with it.’.

The Psychology Behind the New iPhone’s Four-Digit Price

Harvard Business Review

Apple made headlines by announcing that the price for its new iPhone X (a fancy term for 10) will range from $999 to $1,149. These prices are commanding attention because they are significantly higher than the base prices of the two other iPhone models that were also announced, the 8 ($699) and the 8 Plus ($799). The X’s price is also noteworthy because it approaches, and breaches, the key threshold of $1,000. What a fascinating use of price.

Pricing Is Not a Moral Issue

CO2

Ben Shapiro, my professor of marketing at Harvard Business School , taught me that pricing is not a moral issue. Yes, some markets are dominated by only a handful of players, limiting buyers’ options, but there are laws to prevent monopolies, unfair market pressure, and price fixing.

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Creativity Meets Data Science: The Importance of Pricing for Marketing Professionals

The Kini Group

Pricing isn’t the most fun part of your job. Pricing is, however, one of your most important responsibilities. While crafting the perfect campaign headline is always much more interesting, it’s pricing that impacts your company’s bottom line fastest and most effectively. Pricin

What Low Oil Prices Really Mean

Harvard Business Review

Since the start of 2016, oil prices have swung between $27 and $42 per barrel, about a quarter of the 2008 peak crude oil price of $145. In reaction to this freeze, oil prices not surprisingly jumped 5%. So what could a decade of lower oil prices mean?

Reason Why 2013 Stock Prices are in the Stratosphere

Coaching Tip

In the July-August Elliott Wave Theorist , Robert Prechter discussed the role of leverage in sending the market to new price highs. That is a big reason why stock prices are in the stratosphere. Margin debt is up 100 times in the last 39 years.

What is Price Realization, and How Does It Impact Your Bottom Line?

The Kini Group

Companies are bombarded with pricing strategy advice constantly: “Increase your prices by 2%.”. Decrease your prices for your price-conscious markets.”. Unfortunately, even the best pricing advice rarely works for every single company. What is Price Realization?

A Quick Guide to Value-Based Pricing

Harvard Business Review

In my 15-plus years of working with companies & teaching courses on pricing strategies to MBA students, I have found value-based pricing (also known as “value pricing”) to be the most commonly discussed concept that’s also the most misunderstood one.

Why Businesses Should Lower Prices During Natural Disasters

Harvard Business Review

It’s a longstanding debate that’s reemerged during Hurricanes Irma and Harvey: During a time of crisis, should merchants raise or maintain prices when demand increases for essential products such as water, gas, and bread? Now, due to the influence of social media, a new alternative is emerging: Why not lower prices during these critical times? Economists usually lobby against implementing price-gouging laws that restrict large price increases during natural disasters.

Pay Full Price to Change Your Behavior

Building Personal Strength

If you really want to improve, be prepared to pay full price over the long haul. Yesterday in my post on "muscle memory" I described how the brain learns a skill and that every bit of that memory resides in the brain, not the muscles.

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