Question: What are some easy alternative ways to determine where your customer sees your pricing in the market? Or worse yet… when you suspect that your pricing has been discounted heavily [...]
An article in the Philadelphia Inquirer was headlined as: “Verizon ditches hidden fees, cable bundles to lure cord cutters. Will Comcast, others follow?” The article explains how the average [...]
Question: Mark, on the podcast with Ron Baker he said “Price is a feeling”. Why isn’t it a number? -G Answer: Hi G. Thank you for listening to the Impact Pricing podcast. Ron is [...]
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 situations where [...]
Question: Hi Mark – Where should pricing sit, or where does it typically sit? Finance, sales, marketing, product? What are best practices? – A Answer: Hi A, The answer is the standard [...]
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 me for very long, these statements should [...]
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: Should I A/B test our pricing? Answer: The best answer [...]
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 is Price Elasticity? The definition of price [...]
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 from the market. What are some [...]
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 to make a sale. If your price is below that, buyers are much [...]
