A recent survey conducted with 557 CEOs and business owners around the world showed they pay little attention to pricing. When asked how they would allocate 100 points of attention between cost cutting, growth programs and pricing initiatives, pricing received an underwhelming average of 16 points. A vast majority of their time is spent on…
Pricing power is an incredibly valuable thing. There are a small minority of companies that have this broad-based power as Mr. Buffett talks about. However, the majority of companies have much more power than they might expect.
Warren Buffett: If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business and if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.
Manufacturing.net and PROS’ Doug Fuehne, VP, Professional Services of PROS Pricing Software Solutions talk about how manufacturers can improve their pricing strategies and come out ahead as the economy turns around. To get right to it, the five pricing strategies Fuehne suggests will help you come out ahead in the economic recovery: Identify underperformers. Proactively…
I am not very good at poker. My friends say I have more “tells” than they can count. A tell in poker, is a facial expression or body position that gives away what kind of hand you have – a bad one, a good one and sometimes a really good one. The best poker players…
The other day, I had a very interesting conversation with one of our customers. They just completed a customer survey to help determine the core reasons their customers valued them as a supplier. Many items were listed – service level, relationships, ease of procurement, technology, price, market leadership, quality and much more. Price didn’t make…
Pricing science is often an over-used term. True pricing science is the use of fundamental scientific methodologies and logic that help companies attain remarkable returns on their investment. These algorithms are cutting edge, but still rely on fundamental principles that can be traced back through history. In 1906, Sir Francis Galton (widely known for his…
Houston, Texas – August 13, 2009 — PROS (NYSE: PRO), the world leader in B2B pricing and revenue optimization science and software, today announced that it has received a “Positive” rating in Gartner’s 2009 MarketScope for Price Optimization and Management Software for B2B. PROS has the largest full-time staff and greatest total annual revenue in the…
John Salch recently posted a great blog about removing the boundaries of technology – allowing your sales force to use tools they are already comfortable with, yet still providing key information to make great pricing decisions. One of the most important pieces of information you can provide is knowledge about a specific customer, the product…
Jacqueline Davis says:
Hi Siva,
Thanks! I couldn’t agree with you more on the...
Jacqueline Davis says:
Hi Rikhath,
The question of why your company needs a pricing team...
Siva Ram Yellapragada says:
Simply awesome !!
We have a strong pricing team in our global...
Rikhath says:
Also in enterprise products world do you think Product operations would...
Rikhath says:
Hi Jacqueline,
We fighting the same battle and I out...
