Jose Mirabal is an advisor and expert in negotiation and pricing strategies. He has more than 350 projects carried out in 27 industries. His clients include multinational companies, governments, regional organizations, foundations, and non-profit companies.
He is also the CEO of MIRABAL Pricing Services, a consulting firm specializing in price strategies and negotiation. He is the author of the Value-Based Pricing Framework ©. He has given more than 160 talks, workshops, and seminars in 13 countries.
He graduated from Cornell University with postgraduate studies in California Coast, Stanford, and Adolfo Ibañez.
In this episode, Jose underscores the common thing all CEOs share — being pricing leaders. To him, an even greater need to have a strong grasp of pricing and knowing and recognizing value. That’s why he also shares the reason why he started Pricing Institute and what it does.
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Why you have to check out today’s podcast:
- Find out a pricing standpoint on value-based pricing as opposed to cost-plus pricing, so you find solutions to business problems from a pricing perspective founded on value
- Discover what value configuration is, so you focus on what the client gets and provide options for them, so you get the right pricing for everyone
- Find out the different dimensions you need to work around to make up value, so you back it up with the right pricing strategy
“Read about need-based segmentation. Just read it. How could you do need-based segmentation in your business? That’s number one. The second thing, if you’re going to do competitive analysis, do competitive analysis from a value standpoint.”
– Jose Mirabal
Topics Covered:
01:43 – How a talk with some CEOs started his Pricing career
04:09 – What he has found out about pricing through the years of his consulting career
05:37 – Everybody’s focusing on the costs but forgetting the value part
07:48 – Why did he create Pricing Institute
11:17 – Tactics he is teaching
14:48 – Why to him the whole concept of value is sort of missing everywhere
16:38 – What he thinks on why most companies don’t know how to identify value
22:49 – Not only do they not know value, they also don’t recognize it
26:41 – How to do competitive analysis from a value standpoint
25:53 – Jose’s piece of pricing advice that can significantly impact your business
Key Takeaways:
“If I want to improve the pricing of one of my customers, the first thing I need to do is that relationship of value between my customers’ products, and the clients’ needs in the market and how those two things talk when I contextualize them and put them against other competitors.” – Jose Mirabal
“When I think of pricing, I look at first value configuration because Warren Buffett said, price is what you pay, but value is what you get. So, let’s focus first on what the client is getting, or how we can improve the number of options and expand the width and the range of options that we can offer clients, just like a restaurant.” – Jose Mirabal
“I want my clients to come in. And regardless of what they want, always have the right option for them. And I think when you have that, that’s the same thing as having the right price for everybody.” – Jose Mirabal
“Most companies, most professionals, specifically, most investors, if not all of them, most CEOs do not challenge their pricing. What happens is that they end up perpetuating all bad pricing habits.” – Jose Mirabal
“Nobody really realizes that the only way your value or the value you offer will actually work is by how well you capture that value backed by your pricing strategy.” – Jose Mirabal
People/Resources Mentioned:
- The 1% Windfall: How Successful Companies Use Price to Profit and Grow by Rafi Mohammed: https://www.amazon.com/1-Windfall-Successful-Companies-Profit/dp/0061684325
- Rafi Mohammed: https://www.pricingforprofit.com/rafi-mohammed/
- Vistage: https://www.vistage.com/
- Amazon: https://en.wikipedia.org/wiki/Amazon_(company)
- Uber: https://www.uber.com/tw/en/
- Netflix: https://www.netflix.com
- Airbnb: https://www.airbnb.com/
Connect with Jose Mirabal:
- Website: https://pricing.institute/
- LinkedIn: https://www.linkedin.com/in/jrmirabal/
Connect with Mark Stiving:
- LinkedIn: https://www.linkedin.com/in/stiving/
- Email: [email protected]
Full Interview Transcript
(Note: This transcript was created with an AI transcription service. Please forgive any transcription or grammatical errors. We probably sounded better in real life.)
Jose Mirabal
Read about need-based segmentation. Just read it. How could you do need-based segmentation in your business? That’s number one. The second thing, if you’re going to do competitive analysis, do competitive analysis from a value standpoint.
[Intro]
Mark Stiving
Today’s podcast is sponsored by Jennings Executive Search. I had a great conversation with John Jennings about the skills needed in different pricing roles. He and I think a lot alike. If you’re looking for a new pricing role, or if you’re trying to hire just the right pricing person, I strongly suggest you reach out to Jennings Executive Search. They specialize in placing pricing people, say that three times fast.
Mark Stiving
Welcome to Impact Pricing, the podcast where we discuss pricing, value, and the international relationship between them. I’m Mark Stiving. Today, our guest is Jose Mirabal. And here are three things you should learn about Jose before we start; he spent the first 15 years of his career in sales, a great place for pricing people to get started. He worked his way up to becoming a pricing consultant. And he is now Managing Director of the Pricing Institute. Oh, and he has a background in Molecular Genetics. I guess that means he’s pretty darn smart. Welcome, Jose.
Jose Mirabal
Hi, how are you? Thanks, Mark, for having me.
Mark Stiving
Oh, thanks. This is going to be fun. So, I know you wanted to tell me this before we started, but I’m going to ask you now, how did you get into pricing?
Jose Mirabal
Because of a talk. Back in 2015. We were doing sales consulting on a… I was trying to keep the rounds with large associations, right, trying to get clients. So, I hit this organization called Vistage. I’m sure you’ve heard of it. It was sort of interesting because they said yes, you know, we would like to have you on board to give a talk. No, we don’t want you to talk about sales because that’s a low level for our CEOs. And that surprised me. But they told me it can be in sales. So, my background information back in a prior job I had at Telmex in the US. So, I said, okay, let me talk about pricing, but a little pricing issue I had with them. It was interesting because back there at the end of that meeting, it was all CEOs. I remember there were 12 of them. Three of them called me back the next day. I am here, I’m thinking I’m going to sell them some sales consultancy services, they actually said no, we have some pricing problems. That was the first time all of a sudden, you know, I get a pharmaceutical laboratory, actually, the oldest one in the country saying we’ve had, we have a medication that we’ve sold for 86 years, we don’t know what to tell them, what our visitors, you know, medical visitors, the drug visitors, the guys. I actually go to see the doctors; we don’t know what else to tell them to keep moving this. I mean, they’ve had an 86 year old product that was actually losing track, was losing sales, and losing margins. And they wanted to see how they could solve it from a pricing standpoint; that was the first challenge I came across. The other one was a large company that they made; it was an industrial company. And they had big problems because the largest company in Chile was professionalizing their pricing from the buying side. So, they actually had started doing this bidding process. So, this company was being a coal sole provider for 12 years, all of a sudden needs being challenged that they will probably lose position on prices. That had already happened with a company in Canada. And when that happened in Canada, they shut down the company and fired 600 employees. So, all of a sudden, they’re negotiating the same problem here in Chile, and they hire me from that talk. And that’s how my pricing career started.
Mark Stiving
All from one Vistage talk, which is pretty impressive.
Jose Mirabal
Well, I realized from that point on that something was going on with a pricing variable. I mean, something was interesting, and that’s what has happened ever since. You talk about pricing, and everybody really looks, stares at you, you know, as they call it, a deer in headlights, you know, it’s like they’re looking at you talking about pricing. But the truth of the matter is that in all these years of consulting, I found something very interesting, which is that nobody ever really took any classes regarding pricing. I mean, I went to good schools, went to school in the US, and got my MBA there. All my clients have MBAs, too. And it’s sort of interesting because, well, I’m in Latin America, you know, it’s kind of like I always tell them you’re taking more English classes than pricing classes. Yet you talk about pricing every day, but you only talk English when you go to Miami or Las Vegas shopping around, so it’s sort of interesting that I saw that here and I have to tell you that it’s endemic. It really doesn’t matter where you go; you’re going to find the same problem over and over. I had clients in 42 industries and 26 countries over the past six years; it’s been crazy. And the funny thing is that it really doesn’t matter who you talk to; pricing knowledge is about the same, which is pretty much none.
Mark Stiving
So, have you had a chance to…Do you have any clients in the US? And do you see any difference in pricing knowledge in the US versus anywhere else?
Jose Mirabal
The answer is, yes, I do have clients in the US; I have to say that, usually, everybody says that their pricing is different. Everybody tells you that the pricing is specific, oh Jose, you know, we are on, I don’t know the materials industry, we’re in the consumer products industry, you know, we’re in the pharmaceuticals, we’re in the army, we’re in the weapons business. And it’s sort of interesting because they all do pricing the same. So, it really doesn’t matter. I can tell you that I’ve talked to; I currently have software companies as clients. I had laboratories as clients even though they sell different stuff, they all price the same, they are a heavy focus on costs. Usually, you want to talk about pricing. Usually, the CEO is not around, which is sort of interesting because I always tell the guys, dude, who pays you? I always tell the CEO of these, who pays you, who’s in charge of your check of your paycheck? They always tell…the owner. And I say, how does he figure that amount, usually it’s’ the variable bonus? Well, it has to do with the EBITDA, right, with profits. And I’m like, Who’s in charge of your profits? And it’s always subtle, like, so Barbara, when I ask these questions because everybody keeps, you know, rolling the balls on some businesses, pricing is done by the operations people in some other organizations, these sales managers in the other organizations. You have, I don’t know, the sales guy setting prices. The truth is that what I found out is, it really doesn’t matter. You could be in Germany; you can be in the US; you can be in Mexico; they all price the same. And I find that so interesting because it seems like everybody’s focused on, when they talk about pricing. Everybody focuses on costs. And it seems like everybody forgets about the value part. And I think that’s the biggest issue you have today.
Mark Stiving
So, Jose, before I ask the next pricing question, this is a really important question. How much coffee do you drink? Because you talk fast and nonstop?
Jose Mirabal
I’m from Latin America, what do you expect?
Mark Stiving
I don’t know, is that how everybody talks down there? I have no idea. So, tell us about the Pricing Institute; what is it?
Jose Mirabal
I created the Pricing Institute because I saw that there was a big gap, huge, a tremendous gap in the lack of education, and lack of pricing knowledge, not only at an organizational level, but also at the CEO level, at the board level. And what I found was a tremendous opportunity. And after years of having a very productive pricing practice in Latin America, I found out that I did not want to keep growing like a consulting firm. And so back in 2018, I did a turn at my consulting firm. I mean, it was crazy. We grew from one to 15 people in less than six months. And that was going good. And then I fired everybody. And the reason is because I didn’t want to go with the consultancy. I think there’s a true value in consultancy, but I believe there’s a bigger need when it comes to education. And I’m not talking about the large companies because usually consultants are mainly focused on trying to, you know, dog and pony. Everybody’s saying, well, you know, my clients are such airlines, my clients are such banks. I see the problem from a wider background. I mean, today we’re in the midst of a pandemic, the tourism sector is heavily hit, chances are, by the time that he opens the doors, most hotels and tourist operations will run into bad pricing practices. And because of that, they will probably be running heavy promotions, even though their sales volume will decrease because of the quarantine and the requirements. And probably that’s going to put a lot of people in cash flow negative positions. And I think that’s going to be a big problem. Lots of companies are closing down nowadays. Everybody’s blaming the pandemic. But nobody’s talking about the underlying issue, which is not so much the pandemic as the business model, or business models that rely heavily on costs, for instance, where everything tends to be sort of like industry margins. I think it’s time for a change. And I think there’s a big opportunity today, and I’m saying this to all my fellow appraisers. I think you’ve done a fantastic job. And I told you this before you started recording. I mean, I’m a fan of you, on what you do. What I think, there’s a bigger need; I’m not talking about pricing on airlines. I’m talking about the pricing of the little guy, you know, I’m talking about the little guy that has a legal services firm, the guy that, he’s I don’t know, selling cakes on the street, or the guy that has maybe a grocery chain with five stores. I mean, those guys have no access to pricing. Obviously, they have no access to pricing, even less if it’s a consultant. So, I think there was a feat with education. So, I decided to go into that route, use my experience and start building courses and programs that actually companies could take. But focus mostly not so much on the theory of the concepts behind pricing. But going directly into learning tactics, implementing tactics, having the team, learning the tactics, and learning the concepts. So, these concepts beyond the grasp of the consultant, they actually get transferred to the company. So that way, as I tell my clients, you know, I don’t want to talk about your promotions again. I want to fix the stuff and move on to the next issue because we will probably be talking about pricing issues for five, seven years.
Mark Stiving
Give us an example of a tactic that you’re teaching these guys.
Jose Mirabal
Well, let’s see. There are way too many. I mean, ten courses that I’m launching right now have 34. Let me just tell you, for instance, one of the things that I see nowadays is that there’s a big problem monetizing value, when it comes to monetizing value, the issue, it’s not so much the calculation; it’s just a qualitative analysis to come across to figure out what’s value. What are people valuing out on the streets? And how does that change? Or how should my product configuration change? And I think I started there before I even get to the price. Warren Buffett said it, right? He’s like, price is what you pay, value is what you get. Everybody’s always focused on the pricing part, but the value part is completely neglected. So, some of the recommendations that I’m figuring out is how companies can actually increase value? So, for instance, financing, there’s a lot of companies that nowadays is still, they all only offer one price, one option, few options. They don’t offer financing, for instance, you know, so you could use internal financing. It’s incredible because it’s sort of dumb, but let me just give an example. There’s a huge seafood producer here in Chile, he exports, he also deals with the local market, he sells to restaurants and hotel chains and smaller distributors. He never accepted payments with credit card, because his whole business was focused on B2B. So, in B2B, everybody pays you in 30 days, which is a lie. Everybody pays you much later than that, usually, but companies don’t know that. That’s a tip for everybody. Okay. So, what happens is that they did not offer credit cards; we just included the credit card issue on his sales. And we started, he actually, we did some segmentation work for him back in October 2019. March 2020, we started the quarantine, his business exploded. I mean, he literally went to zero. But because of the segmentation work that we’ve done back in September, October, we open up a retail line, which my client did not like because he thought it was a headache dealing with the retail clients. Well, this is what happens; today, he’s selling about three times the dollar amount he was selling before we started the pandemic, and 70% of that is coming from retail. Plus, he actually opened up again, the B2B operation, and he started offering financing options because of what he found, so that’s just one idea.
Mark Stiving
Yeah, I love that. But here I want to point something out to the listeners for just a second. Because what you just described to us, you said, you know, it’s not about pricing, it’s about value. And then you started talking about value. And in the end, what you really said was, well, let’s go build a different product, let’s go offer a different feature, let’s go build a product for new market segments. And what I love about that is because even though we think of ourselves as pricing people, we also think of ourselves as, how do you understand what value really means? And nobody in the company understands that. And once you start to understand value, you find that, oh, wait, you mean I can create products that add more value? You mean I can communicate value better to my marketplace, and I can capture that value in my pricing and in my sales, and so I thought that was a fascinating story because it had nothing to do with pricing, right, everything to do with value and essentially rebuilding a business once we understand value.
Jose Mirabal
And when you actually read books, when you actually read all the materials, it’s sort of funny because I find in old business textbooks that they talk about, I mean, everybody tells you that you need to give value but nobody ever taught you how to price it. So, it’s sort of interesting because the whole concept of value is, sort of, kind of like missing everywhere. I mean, any textbook, any college book will tell you, you need to give value, you need to provide value. How much do I put a price on it? I mean, what price do I do? So, what I found out is that, really, when it comes to that part, there are two things, pretty much that I see that are missing. This is based on my experience, the first thing that is missing is that there is no model. Or at least there is no set model or known model. I mean, I built my own. But there’s no model that a company could use to actually find value. Even though today, obviously, you can do segmentation, you can do need-based segmentation, which is what I think is just the top way of doing segmentation today, then you cross it with transaction and analysis, and you get a killing business. But the thing is that when it comes to monetizing value, everybody will tell you, you know, this is valuable. This is not so much. But there’s no process. There’s no set process. And I think that’s a big gap there. So, people know about value, talk about value every day. They just don’t know how to process it, learn it, identify it, monetize it.
Mark Stiving
No, I agree with everything you just said. I actually think the problem is a little bit different than what you described. Right? I agree that all of those things were problems. But I think the more I talk to people, the more I realize the real problem is people don’t even know what value means. Right? We use the word value a lot. But you couldn’t… you ask any company, what’s the value of your product? And there’s no way that they know how to describe the answer to that question.
Jose Mirabal
Like coaching. Yeah, the same with coaching, right? It’s like it means nothing and everything at the same time. Yes, absolutely. Right? And as I said, it’s like, nobody taught you in school or college. And there’s no corporate program nowadays that teaches from the board, all the way down to the salesperson. And I’m not saying that they are all the way down; I’m just saying, you know, just a specific segment. But nobody teaches you how to capture value, what is value. I mean, for instance, I segment value in dimensions, okay, when I think of value, I think of the value triad, I think of, you know, to me, for instance, a hot cup of coffee could be valuable. Maybe a specific brand of coffee could be another type of value. So, what I decided to do is break down value in 10 dimensions, you know, brand quality service, physical attributes, ease of access, use, use by location, experience, style. So, these are things that make up value. So, if you don’t have a qualitative model to actually sort of like sit down with your people and figure out what customers really like, this is what happens. Everybody’s just turning this whole configuration or product configuration game into something based on costs. When in reality, people should be building products and services just to satisfy felt needs. And I think that‘s where the competitive advantages are. That’s what you have. Most people focus nowadays on technology. And they don’t realize that the biggest change in my mind, and correct me please if I’m wrong, but to me, the biggest change or the biggest thing that you’ve seen twice, number one, everybody is always trying to interview, how come that company became wealthy, rich, and famous. Everybody’s talking because they, I don’t know, the CEO wakes up at five o’clock in the morning, does yoga, and does exercise. Nobody realizes that all leaders nowadays share one thing in common. They’re all pricing leaders. Think about it. Think about Amazon Web Services, Uber, Netflix, Airbnb; all these are companies that have a strong grasp of pricing. They use it, they understand that they work in it every day. Then you have other companies like Walmart, and everybody thinks that Walmart is a pricing leader, which in my mind, it’s sort of. I mean, the leaders have low prices. But nobody realizes that for instance, Walmart back in 2009, selling $400 billion. Their EBITDA was 2.69 in 2020. They’re selling $513 billion. They’re selling over 20% more. And they have exactly the same EBITDA. If I were the Walton’s, I would have fired those CEOs long ago. I mean, Jesus Christ, I’m making the same amount of money, and you’re selling 20% more. I mean, all we got was the cow fodder; I mean, there’s nothing there that actually the company can grasp. Then you add a drop in demand, a pandemic, or social upheaval. And then what happens is that demand drops, and then you have Walmart shutting down 100 stores just because they have to make up that 2.69 EBITDA. So, those are crappy businesses in my mind, and I think that unfortunately because nobody really challenges pricing, because think about it, everybody challenges me when it comes to value-based pricing, but they don’t challenge cost-plus. And the funny thing is that most companies, most professionals, specifically, most investors, if not all of them, most CEOs do not challenge their pricing. What happens is that they end up perpetuating all bad pricing habits. And which are these bad pricing habits? You know them, I know them, I think the audience knows them, too. Everybody’s price and be a cost-plus, okay, everybody’s looking at sales and market share success measures, when in reality, they shouldn’t be because you can sell something and lose money. So, it should be profit and growth. And then what happens? Is that even compensation, I mean, it’s funny because sometimes I argue with some CEOs. And I tell them, dude, you’re paying your salespeople based on sales, even though you don’t care about sales, all your care is profit. So why don’t you compensate your salespeople and align their compensation to your business model? So, they look at you again, they stare at you as a viewer in headlights? And they’re like, oh, yeah, thank you very much for the advice. But the truth is that because of these things, and these are, I’ll go back to a lack of knowledge, lack of pricing knowledge, what you have is that you have a bunch of CEOs running 100 billion dollar companies, but they’re really running them exactly the same way as a mom and pop that’s just putting cost-plus. And again, everybody tells me cost-plus works. And I’m thinking, well, then explain bankruptcy there. I mean, if cost-plus works, then how come we have a bankruptcy? You know, everybody usually puts a price over their costs. So, how can you explain that? Oh, the other thing is that the cost-plus really works, then why are you having so many problems trying to convince your customers of your value. But you have a pricing problem.
Mark Stiving
I think that’s an interesting observation. So first off, I’m not as angry or negative towards cost-plus; I mean, I hate it. It’s not the right answer for anybody. But it’s easy. Companies find that it’s really easy. And so, if you’re a startup, and you don’t want to figure out value, okay, get it, you can use cost-plus, you know, you’re leaving money on the table if you do that. But I think the thing you pointed out, which I really liked, was companies doing cost-plus don’t have to understand value, which means they don’t understand value, which means they don’t know how to sell value. Right? Now, they’re throwing a bunch of products out saying, hey, here’s our price, you want to buy our product, and they don’t know who cares about your product.
Jose Mirabal
Not only do they not know, they don’t know how to recognize value. They don’t know how to monetize it. They don’t know how to sell it, they don’t know how to promote it, and they don’t know how to monitor it. So, the truth is that when it comes to your value component on your business, which is pretty much the only reason why you should exist, which is to provide value. You don’t know how to quantify it or monetize it. And as I read from Rafi Mohammed, on the wonderful book he has, he actually said, I still have to hear somebody going to the store to buy a TV, flat screen. And when the sales guy tells the person, what’s your budget, the guy answers 2.2 times the cost please. Nobody buys like that. But everybody prices like that, I think, make no sense. I think that’s a big gap. That’s why when we’re talking about innovation. I do a lot of talks on innovation and pricing in innovation, I always say it‘s like, it’s sort of interesting that the value thing, it’s something that everybody talks about. Still, nobody really realizes that the only way your value or the value you offer will actually work is by how well you capture that value backed by your pricing strategy. That’s why if I want to improve the pricing of one of my customers, the first thing I need to do is that relationship of value between my customers’ products, and the clients’ needs in the market and how those two things talk when I contextualize them, and put them against other competitors. So, what happens is that you find out, for instance, that everybody says, well, you know, our competitors are dropping down the prices and I’m thinking yeah, dude, but you’re the only one offering financing. So those that play, shouldn’t play? I mean, all but you know, we are getting killed. There was a German company here, a huge company, the largest in the world. And they’re here, right? And the CEO is telling me, dude, you know, it’s like we’re fighting against the Indians. The Indians are here. They’re dropping the prices down. The Chinese. I’m telling you, dude, you’re German. You’re doing all these other services. They do their services. No, they don’t. Oh, do you do them? Yes, of course, we do. How much do you charge? No, we do it for free. So, when you hear these sorts of things, it’s like you realize, yes, I think the lack of knowledge, and not from the CEO only but to the whole team, is making them stare at a tree but means the whole forest. And I think that’s the biggest thing. So, when I think of pricing, I look at first, value configuration because I said, Warren Buffett said price is what you pay, but value is what you get. So, let’s focus first on what the client is getting, or how can we improve the number of options and expand the width and the range of options that we can offer clients, just like a restaurant. So, I want my clients to come in. And regardless of what they want, always have the right option for them. And I think when you have that, that’s the same thing as having the right price for everybody.
Mark Stiving
Yeah, Jose, we’re going to have to wrap this up. This has been fascinating. I’ll say that. But the last question. I knew you expected this one. What’s one piece of pricing advice you’d give our listeners that you think would have a big impact on their business?
Jose Mirabal
Study, learn, read, take courses, get acquainted. I’ve been doing pricing for the past six years, full time, and I tell you that it’s overwhelming, the amount of reading materials that I have or I can get. I think that you need to read. I believe education is the biggest problem. Okay, if I were to give you some basic piece of advice, read about need-based segmentation. Just read it. How could you do need-based segmentation in your business? That’s number one. The second thing, if you’re going to do competitive analysis, do competitive analysis from a value standpoint. So, for instance, you know, I use ten dimensions, and Rafi Mohamed introduced I think six or seven, right, like brand, quality, service. If you start doing competitive analysis, you can break down the offer easier based on those dimensions. And if you know, for instance, that may be a need from a client is that they need ease of purchase, maybe they need credit, perhaps they need credit options, and so on, then you can actually go look at your competitors and see what they are offering in terms of financing, ease of purchase are, and that way, you can find out what I call market imperfections. What are market imperfections when you actually find that there’s a need in the market, and it’s unmet because even though the need is there, nobody is filling it, think about Netflix, right? They fill a need, okay, they just use the typical Chinese restaurant business model of a buffet, okay, do actually offer a flat subscription fee for everybody. And they just killed blockbuster, even though they tried to sell the business to blockbuster. And they said no, right. Thank God. So, my point is that do segmentation, read about need-based segmentation. Just specifically about that and I recommend you read about, for instance, I like Rafi Mohammed. I think I take the same approach. There’s no reference point of all the prices, strategies, and tactics that you can have when it comes to pricing. It’s like, everybody does cost-plus because as you said, it’s easy, but there’s really nothing else. So, my question is, when do you put a discount? When do you start working on versioning? Should you use functional versioning, classical versioning. You use a version sort of functional, or by use, or by needs. When should you consider a purchase or purchase options? So, because there’s no structure, it really doesn’t matter who you are; you probably don’t even know where to start. So, I would say, read about value-based pricing. I recommend 1% windfall by Rafi Mohammed; he actually went to Cornell, too; I didn’t know that. But an excellent book, because it’s the only book I have found so far. And you probably know another, I would ask you to do the same, but it’s the only book that I see or that I read that actually shows about 70 pricing tactics in order and how you could use them. And I think that very simple point, if I give it to an entrepreneur, or a CEO or a company, if they know a frame of options that they can consider plus, they have another little framework where they know what the value, what’s the value clients are looking for, then you can figure out hey, these guys are looking for credit. These guys are looking for security in their purchases; for instance, now post pandemics, everybody’s doing the same. Everybody’s looking for security.
Mark Stiving
I’m going to have to stop you because I think you could talk for an hour straight.
Jose Mirabal
Absolutely!
Mark Stiving
Thank you very much for your time today. If anybody wants to contact you, how can they do that?
Jose Mirabal
Go to pricing.institute.
Mark Stiving
That’s pretty easy. That’s it. We’ll have a link to your LinkedIn page on our show notes. That’d be great.
Jose Mirabal
Absolutely, thank you.
Mark Stiving
You’re very welcome. Episode 125 is all done. Thank you very much for listening. If you enjoyed this, would you please leave us a rating and a review on Apple Podcasts, if possible? And if you have any questions or comments about the podcast or pricing in general, feel free to email me at [email protected]. Now, go make an impact!
Mark Stiving
Thanks again to Jennings Executive Search for sponsoring our podcasts. If you’re looking to hire someone in pricing, I suggest you contact someone who knows pricing people. Contact Jennings Executive Search!
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Tags: Accelerate Your Subscription Business, ask a pricing expert, pricing metrics, pricing strategy
