Pricing Strategy - Privaledge
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Pricing Strategy - Privaledge
PriValEdge is a leading Pricing & Value Strategy consulting firm. PriValEdge is a leading international business consultancy focused on helping its clients define and implement innovative Customer Value & Pricing strategies which secure improved competitiveness and significant bottom line impact
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How Pricing Consultants Help You Stop Leaving Money on the Table - Pricing Strategy Blog - Privaledge

How Pricing Consultants Help You Stop Leaving Money on the Table - Pricing Strategy Blog - Privaledge | Pricing Strategy - Privaledge | Scoop.it
You leave money on the table if you’re not getting as much out of your products and services as you should. A pricing consultant can help you remove ineffective and value-reducing behavior from an ad hoc pricing strategy.
Privaledge-pricing-strategy's insight:

You leave money on the table if you’re not getting as much out of your products and services as you should. A pricing consultant can help you remove ineffective and value-reducing behavior from an ad hoc pricing strategy. Value Based pricing reflects the value of your product qnd what the customer is really willing to pay…so you can capture better the Value of your offer.

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Five dynamic pricing issues retailers should consider

Five dynamic pricing issues retailers should consider | Pricing Strategy - Privaledge | Scoop.it
From social media sentiment analysis to digital ad buying, faster is increasingly seen as better, or at least necessary.

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Why does your industry need a Pricing Consultant ? - Pricing Strategy Blog - Privaledge

Pricing consultants are not just some statistics geeks or Market Research wizard. They can help in building a vision on how to deliver more value for your customers and how to get properly remunerated for it.
Privaledge-pricing-strategy's insight:

Pricing consultants are not just some statistics geeks or Market Research wizard. They can help in building a vision on how to deliver more value for your customers and how to get properly remunerated for it. In this purpose, you need someone with real competence and knowledge of Pricing and Value Strategy and who thinks out of the box – that is that can bring Pricing & Value expertise and experience from other industries – to see the issues clearer.

Pricing consultants can provide expertise and sophisticated tools and techniques to support strategic and value-based pricing. They bring leading-edge pricing research studies, pricing management processes and tools to define an optimal price with the client in accordance with the research.

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PriValEdge - Global Value & Pricing Strategy Consultancy

PriValEdge - Global Value & Pricing Strategy Consultancy | Pricing Strategy - Privaledge | Scoop.it
PriValEdge’s State of the art Pricing Analytics provide leading companies with answers to critical pricing and Customer Value questions
Privaledge-pricing-strategy's insight:

Enhancing Customers’ perception of the Value of their offers & Optimizing pricing decision-making represents the two largest, multi-million dollar opportunities for companies to drive incremental sales and profits.  Successfully implementing Customer Value & pricing analytics can quickly result  in 3 – 6% ROS Improvement while driving 1 – 3% increases in sales.  Too often this “lowhanging fruit” opportunity goes unpicked, and sales opportunities and profits lost

PriValEdge’s State of the art Pricing Analytics provide leading companies with answers to critical pricing and Customer Value questions.

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Millward Brown Competitive Intelligence Ups Conversion Rates

Some call it spying; others call it competitive intelligence. With more than 70% of marketers unaware of competitors' conversion rates, Millward Brown Digital on Thursday introduced Conversion Tracker, allowing marketers to see competitors' onsite activity, and isolate problems that impact their own performance.

 


Via Bonnie Hohhof, Estelle Metayer
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University of Wisconsin Partners with Survey Analytics to Track Flu Activity ... - HispanicBusiness.com

University of Wisconsin Partners with Survey Analytics to Track Flu Activity ...
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Pricing Benchmarking - Privaledge

Pricing Benchmarking - Privaledge | Pricing Strategy - Privaledge | Scoop.it
Pricing Benchmarking - Finding an optimal price be achieved with sufficient Market research & analyses & Implementing effective Value & Pricing Strategies - Privaledge
Privaledge-pricing-strategy's insight:

Whilst most companies regularly engage in benchmarking their performance in key functions, such as Manufacturing, Supply Chain or Quality, it is surprising how few  have really invested in benchmarking their Pricing & Value performance, considering the fact that a focused Pricing & Value practices benchmarking is probably the strongest & fastest lever to improve the company’s competitiveness & bottom line result.

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Apple continues familiar design and pricing strategy

Apple continues familiar design and pricing strategy | Pricing Strategy - Privaledge | Scoop.it
Far from the major departure that many had expected, the iPhone 5c turned out to follow Apple Inc.’s familiar formula, combining premium pricing with a hardware design almost completely identical to the original iPhone 5, according to IHS.
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Dynamic Pricing Duels Between Online Retailers Continue: WSJ AUDIO

Dynamic Pricing Duels Between Online Retailers Continue: WSJ AUDIO | Pricing Strategy - Privaledge | Scoop.it
More on dynamic pricing by retailers to get listed in the top selection box for having the lowest price. What effect this price volatility will have on consumers.

Via Upstream Commerce
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How Did Wal-Mart's IPhone Discount Defeat Apple's Price Controls?

How Did Wal-Mart's IPhone Discount Defeat Apple's Price Controls? | Pricing Strategy - Privaledge | Scoop.it
Both companies are keeping mum, but here are some plausible theories
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Pricing Research

Pricing Research | Pricing Strategy - Privaledge | Scoop.it
Research technique to measure customer Value & optimize prices
Privaledge-pricing-strategy's insight:

Value Measurement still proves a key challenge for most companies, and it is not surprising. First because the notion of Value itself is complex. Value can be  ‘rational’ or ‘emotional’

And ‘Value is (very much) in the eyes of the beholder’ - it  will vary by client based on his characteristics & priorities… So measuring Value is complex and requires specific technics & methodologies. Over time a fairly large numbers of approaches have been developed. Not all perform as well. Indeed, a number of methodologies have now emerged as clearly superior whilst others ‘do not really deliver reliable results. Amongst the most powerful methods: Economic Value to customer’ appears best for the measurement of Rational Value, Transaction (statistical) analysis & win / loss  for direct measurement of elasticities, whilst Choice Based Conjoint research (particularly Discrete choice) appears best to measure the ‘emotional Value’ of ‘attributes’ of the offer

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Pricing recommendations for I-95 express toll lanes approved - Baltimore Sun

Pricing recommendations for I-95 express toll lanes approved - Baltimore Sun | Pricing Strategy - Privaledge | Scoop.it
Pricing recommendations for I-95 express toll lanes approved Baltimore Sun Jim Smith, the state's transportation secretary and chairman of the MdTA board, said the prices are based on thorough research and are consistent with those in place at the...
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PriValEdge - Global Value & Pricing Strategy Consultancy

PriValEdge - Global Value & Pricing Strategy Consultancy | Pricing Strategy - Privaledge | Scoop.it
PrivalEdge - Leading Pricing & Value Strategy Consultancy
Privaledge-pricing-strategy's insight:
Pricing & Value Training

An essential part of Improving your company’s Pricing & Value capabilities will, of course’ be about developing the Pricing & Value Culture, familiarizing Sales & Marketing with the stakes & levers & enhancing the Pricing & Value expertise of your personnel. Training can & should be a driver in that effort 

Over the past five years PriValEdge consultants have trained more than 5000 executives and have conducted in-house training for more than 100 different organizations. 

Ratings for our training sessions have consistently been outstanding and we have been brought back by many clients on several occasions for additional training and or consulting work. 

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The 5 pricing optimization tips that’ll turn your organization into a Pricing & Value powerhouse - Pricing Strategy Blog - Privaledge

While most of us tend to think of prices as a sheer number, pricing and valuation is actually embedded deeply into the human perception. As a result, when yo
Privaledge-pricing-strategy's insight:

While most of us tend to think of prices as a sheer number, pricing and valuation is actually embedded deeply into the human perception.

As a result, when you want to fight the otherwise natural commoditization of your prices you have to produce much more than a new price list. Why? Simply because prices are subject to negotiation and if you don’t train your sales force to defend it, your new price list is worthless… or because value is a matter of perception, and as it always goes with perception, it varies widely with people and market segments…

If there was but one lesson to be learned, it is that pricing optimization is a lot more than just reviewing your prices. As a matter of fact, it is worthless to work on your pricing if you fail to deliver the message about your value proposition to your customers. And this will undoubtedly happen if you fail to convey your new pricing strategy within your own organization. In this article we’re going to detail a bit further a few of the best practices that could help you do just that.

 

Rule n°:1 no pricing optimization can succeed without support from the top
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How to effectively use Discounts and Rebates in your pricing strategy - Pricing Strategy Blog - Privaledge

How to effectively use Discounts and Rebates in your pricing strategy - Pricing Strategy Blog - Privaledge | Pricing Strategy - Privaledge | Scoop.it
Often, when sales teams want to lure in new customers or simply increase sales, discounts and rebates are amongst the major components of the deployed arsenal.
Privaledge-pricing-strategy's insight:

Often, when sales teams want to lure in new customers or simply increase sales, discounts and rebates are amongst the major components of the deployed arsenal.
While it’s easy to get the rationale behind the discounts and rebates story: “Don’t miss that opportunity!”, the results are always hard to measure and more than often damaging to the bottom line Worse in some cases, it can even damage your chances of getting the sale.

This is why you should carefully craft your plans, if you intend to use discounts and rebates in your pricing strategy.

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Price Optimization in accordance with the target and the constraints of the market

Price Optimization in accordance with the target and the constraints of the market | Pricing Strategy - Privaledge | Scoop.it
Price Optimization - analysis of price in accordance with the target and the constraints of the market - PriValEdge
Privaledge-pricing-strategy's insight:

In practice, Price Optimization , remains an exclusive target for most companies for practical and operational reasons :

- Changing target: Optimal price changes by geography, by segment, by variant of the product, over time … Very few companies can afford the research required to optimize prices along these dimensions, and when they do, it is often only feasible for their ‘star products’!

- Constraints: Even if you know the price optimization for your offer, you may not be able to implement it, for practical reasons. Indeed, prices are often set for the year or optimal price in your country can conflict with optimal prices in neighboring countries / parallel imports…

PriValEdge helps its clients go about Price Optimization in a more pragmatic and systematic way
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How to Charge More, Offer “Less” and Get Better Conversions | SiriusDecisions Blog

How to Charge More, Offer “Less” and Get Better Conversions | SiriusDecisions Blog | Pricing Strategy - Privaledge | Scoop.it
Having a small pricing differential between your mid-tier and top-tier offerings and offering other valuable benefits with the top tier can be a useful strategy to entice customers to choose the top-tier option.

 

Digest...

 

Flickr’s competitors – many of which have offered unlimited storage (with minor restrictions) for years – might be wondering why Flickr got attention for offering an amount of storage that is technically less than what they provide.

 

Flickr likely adopted this strategy by offering a “very high” level of benefit, which people perceive as more valuable than an “unlimited” benefit.

 

Let’s look at how you can apply this psychology to business-to-business offerings. Think about product or service benefits you offer at an unlimited level, such as unlimited lifetime replacements, unlimited 24-hour customer service or unlimited user accounts. Consider instead offering a very high limit, such as up to 500 replacements over the unit’s lifetime or up to 5,000 user accounts. Granted, some customers will likely do the math and realize that they will never take advantage of the full benefits. To avoid backlash, you can apply benefit levels with a tiered pricing strategy.

 

Having a small pricing differential between your mid-tier and top-tier offerings and offering other valuable benefits with the top tier can be a useful strategy to entice customers to choose the top-tier option.


Via marketingIO, PricingNews
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marketingIO's curator insight, June 3, 2013 8:01 AM

This is right out of the "believability of offers" book: the B2B audience is a practical lot, and will immediately turn off offers that are too good to be true and are unbelievable, e.g., "you'll increase your revenue by 1000%...FREE!" Yup: reads like, looks like, smells like SPAM...probably SPAM.


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Ashok Vemuri wants more consulting base at iGate - Economic Times

Ashok Vemuri wants more consulting base at iGate - Economic Times | Pricing Strategy - Privaledge | Scoop.it
Economic Times Ashok Vemuri wants more consulting base at iGate Economic Times Over the next few months, Vemuri will re-orient the company towards this approach, overlaying its outcome-based pricing strategy, branded as iTOPs, to win a bigger share...
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Pricing Excellence powerful approach to evaluating & improving the Pricing Performance - Privaledge

Pricing Excellence powerful approach to evaluating & improving the Pricing Performance - Privaledge | Pricing Strategy - Privaledge | Scoop.it
The Pricing Excellence provides a powerful approach to evaluating & improving the Pricing & Value Performance of companies. Privaledge
Privaledge-pricing-strategy's insight:
The Pricing Excellence Framework

PriValEdge’s mission is to support its clients in the development & implementation of effective Value & Pricing strategies , with direct & important impact on their bottom line. To support that objective and better serve our client, PriValEdge has developed leading edge approaches & tools linked & integrated through the Pricing Excellence Framework 

The Pricing Excellence provides a powerful approach to evaluating & improving the Pricing & Value Performance of companies. 

It distinguishes 5 levels of ‘V&P Excellence’ for companies 
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Internal pricing corridor - definition and issues

Internal pricing corridor - definition and issues | Pricing Strategy - Privaledge | Scoop.it
PrivalEdge - Leading Pricing & Value Strategy Consultancy
Privaledge-pricing-strategy's insight:

While we have seen substantial price adjustments in Europe since the advent of the Euro, important price differentials still prevail in many markets, representing an important threat to companies (and unfairness to customers).

Prices for identical products often differ by more than 40% between neighboring countries..

For a large part, these differences can be explained by local differences (customer preferences, brand strength, competition, regulations…) and, per se, they are not a problem and may even represent a profit opportunity by setting the ‘optimal price’ in each country which takes into consideration these differences… 

But the reality is more complex,because retailers or wholesalers (or large clients that manage their supplies internationally) can increasingly take advantage of price differences between countries to reduce their price …. and bring havoc to your distribution strategy in the process 

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Want Loyal Customers? Compete on Value, Not Price

Want Loyal Customers? Compete on Value, Not Price | Pricing Strategy - Privaledge | Scoop.it
Your customers care a lot about factors other than cost. Here's how quality, experience, and consistency can work for you.

Via Erik Cooper
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Erik Cooper's curator insight, February 7, 2013 8:59 AM

Don't discount the value you provide to your customers.  As business/product owners, we often get tunnel vision on costs and forget to focus on the value provided.

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10 bad pricing practices that cost millions dollars every year to societies - Pricing Strategy Blog - Privaledge

1.Sales people cannot easily find the target and walkaway prices for each deal 2.Price is aligned with (or below) competition without consideration of customer value perception and service differentiation 3.Quotes are based on the ‘‘average shipment’’...
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McDonald's Corporation (MCD): McDonald's Innovation Is Key For Shareholder ... - Seeking Alpha

McDonald's Corporation (MCD): McDonald's Innovation Is Key For Shareholder ... - Seeking Alpha | Pricing Strategy - Privaledge | Scoop.it
McDonald's Corporation (MCD): McDonald's Innovation Is Key For Shareholder ...
Seeking Alpha
The issue could weigh on the company's overall growth moving forward and impact its valuation and stock price.
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FSFE objects to claims of 'predatory pricing' in Free Software

FSFE objects to claims of 'predatory pricing' in Free Software | Pricing Strategy - Privaledge | Scoop.it
In a recent antitrust submission to the European Commission, a Microsoft-led coalition falsely claimed that the distribution of Free Software free of charge hurts competition. FSFE has written a letter to the European ...
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NERA Study: Utilities at Risk of Higher Prices, Reduced Competition among Fuel ... - Wall Street Journal

NERA Study: Utilities at Risk of Higher Prices, Reduced Competition among Fuel ... - Wall Street Journal | Pricing Strategy - Privaledge | Scoop.it
NERA Study: Utilities at Risk of Higher Prices, Reduced Competition among Fuel ...
Wall Street Journal
NERA's study concluded that without the American Centrifuge Plant, U.S.
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