Behavioral economics is really interesting. In this field, researchers study how people consistently make irrational decisions. When we understand these well enough, we can craft
Question: Hi Mark – Where should pricing sit, or where does it typically sit? Finance, sales, marketing, product? What are best practices? – A Answer:
Fixed costs never matter to pricing. Variable or incremental costs only matter to pricing in markets where we don’t negotiate. If you’ve read or followed
This is a Q&A blog post with pricing expert, Mark Stiving. If you have a pricing question for Mark, ask on his LinkedIn page. Question:
I’ve written about this several times during my career, and here’s the periodic rant. Your boss was in school and learned about price elasticity. What
Question: We’re a small organization without a formal “pricing” person or any real framework for how we gather and act upon pricing data we get
What is Useful About Reference Prices? A reference price is what a buyer expects to pay. If your price is above that, it’s very hard
Question: Hi Mark, How do you measure customer’s willingness to pay when data is unavailable or sparse? – J Answer: Hi J, By saying “data
What is Value? Recently, I’ve been involved in 3 different conversations on LinkedIn about this topic. One of them I intentionally initiated because I was
Question: Hi Mark, I hope all’s well! I have an exercise I’m working on which is to develop a B2B rebate program. Aside from your
