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Latest Pricing Insights

Webinar: Pricing in New Product Development - From Afterthought to Integral Part of the Process

Posted by PriceBeam on December 7, 2018

We are excited to announce a new PriceBeam webinar about how to take pricing into consideration sooner in the product development process and thus developing new products or services that better match what the market is demanding and is willing to pay for.

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Topics: new product pricing, price research

Pricing Trends to Consider in 2019

Posted by PriceBeam on December 6, 2018
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Topics: dynamic pricing, price research, price optimization, digitalization

PriceBeam is looking for local partners in Brazil

Posted by PriceBeam on December 6, 2018

If you are based in Brazil and interested in joining a rapidly growing business, then check out our video and Brazilian opportunity:

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Topics: PriceBeam

How to Determine the Next Best Alternative Price for Value-based Pricing Strategy

Posted by PriceBeam on December 5, 2018

Determining the next best alternative price is an important factor of value-based pricing. The next best alternatives price serves a comparison point for companies when they determine a value-based price for their new products. Firms determine the value of their product or service by comparing to the next best alternative product or service. A product is seen as valuable if it has better features and performs better than other products in the market, regardless of what the alternative product actually costs.

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Topics: Pricing Psychology, pricing research, value-based pricing

Value-Drivers and their Impact on Price Increases

Posted by PriceBeam on November 16, 2018

Value drivers are product or service features that improve the perception of the product or service a business is trying to sell and can help businesses grow substantially. Value drivers include technological features, brand awareness, and customer satisfaction. Value drivers are also what set a firm's product or service apart from its competitors, acting as a competitive advantage. Value drivers also give the added impression that a company's product or service is better than their competitors. Value drivers allow companies to influence their customer base to purchase their product or service. The distinctive traits that a business' product has will thus make said product look more attractive than its competitors. Once a company has figured out which value drivers boost its profits and its standing amongst competitors, it can use those value drivers to implement successful pricing increases.

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Topics: value-based pricing, Value Proposition

PriceBeam is a Proud Partner of Mark Peacock

Posted by PriceBeam on November 6, 2018
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PriceBeam is a Proud Partner of Better Pricing Australia

Posted by PriceBeam on November 5, 2018

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10 Ways Price Research Can Help Getting Price Increases Through

Posted by PriceBeam on November 2, 2018

The end of the year remains the time where many businesses plan and execute price increases for the coming year. By how much, when and what product or market scope are then key questions. By getting market facts through price research instead of guessing what are the best areas to increase in, companies can improve the likely success of such increases tremendously. It can help a business get a firm grip on what product features are more important, what customer are willing to pay for a certain product or service, and analyse what competitors are charging for their products. 

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Topics: pricing research, price increase, Pricing, Pricing Strategy

PriceBeam is a Proud Partner of Pricing News

Posted by PriceBeam on November 1, 2018

 

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Topics: Pricing

Tariffs and Their Impact on Pricing Strategy in the US

Posted by PriceBeam on October 30, 2018

2018 has been a year where tariffs were a key topic in the news. The US government imposing tariffs on Chinese goods and the Chinese government doing the same to US goods had and will continue to have serious ramifications for businesses. Even though the first round of these tariffs were for steel and aluminium, consumers buy many products that contain steel or aluminium, which also drives the price up of ordinary consumer goods. Tariffs impact consumer goods the most and businesses are left with a tough decision to either hike the prices of their products or reduce their profit margins. This will result in a decline in retail volumes for many companies, with companies such as Pepsi and Coca-Cola having to raise prices for the consumer side in order to cope with the extra costs. Tariffs have seen the average cost of washing machines in the US jump by 17%.

These tariffs imposed by the Trump administration will impact two types of companies:

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Topics: tariffs, fmcg, price increase, PriceBeam Updates, Profit, Pricing Strategy, willingness to pay, international prices