Don’t Do What Sirius XM Did
Sirius XM lowered their prices from $10.99/month to $9.99. This is a 9% price reduction. And, odds are good; this is a very costly decision.
Sirius XM lowered their prices from $10.99/month to $9.99. This is a 9% price reduction. And, odds are good; this is a very costly decision.
Ask pricing experts whether pricing is an art or a science and every one will respond with “both.” The science side is easy to understand
The first indication that you need a new pricing metric is you have customers who get massive amounts of value but don’t pay you very
A company or product without Product-Market Fit (PMF) is doomed to fail. We probably all agree with that. Products without a market willing to pay
Shrinkflation is commonly found in grocery stores. Instead of raising the price of a can of Pringles, they keep the price the same and reduce
Daniel Kahneman, in his book Thinking Fast and Slow, described system 1 and system 2 thinking. System 1 thinking is fast thinking. It’s responsive. It’s
You’ve probably heard of the 5 why’s. It’s a technique used to get to the deeper issues. Here’s an example: Prospect: “I want to buy
Shoot me now! A few days ago I was watching Shark Tank. You know, porn for entrepreneurs. One of the people pitching said, “We have
“Amazon Used Secret ‘Project Nessie’ Algorithm to Raise Prices,” blares a Wall Street Journal Headline. Of course, I had to read it. The implication in
This past week while delivering a bootcamp to several companies, I articulated something out loud that I don’t think I’ve ever said or written before.