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PriceBeam

PriceBeam
PriceBeam posts regular guides, articles and news related to pricing and strategy. Go have a look!
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Book Review - The Price Advantage

Posted by PriceBeam on September 25, 2020

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The Ultimate List of Great Books on Pricing 

Individual Book Review:

The Price Advantage

Book Authors: Walter L.Baker, Michael V.Marn, Craig C. Zawada

The Price Advantage, written by three distinguished pricing experts at McKinsey & Company,  is a functional pricing guide for the executive or pricing professional who wishes to identify, gain, and sustain considerable pricing improvements in their business.

The Price Advantage is one of the books selected from The Ultimate List of Great Books on Pricing we have compiled. Pick up a book or two - to help you charge the right price for your products or services. 

Continue reading through our review for The Price Advantage below!

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Topics: pricing books

Book Review - The Psychology of Price: How to use price to increase demand, profit and customer satisfaction

Posted by PriceBeam on September 16, 2020

.

The Ultimate List of Great Books on Pricing 

Individual Book Review:

 

The Psychology of Price: How to use price to increase demand, profit and customer satisfaction

Book Author: Leigh Caldwell.

 

The Psychology of Price , explains the science behind pricing and includes practical advice on pricing strategies and techniques that can be instantly applied, as well as expert recommendations to help businesses understand consumer behaviour and reach higher sales.

The Psychology of Price is one of the books selected from The Ultimate List of Great Books on Pricing we have compiled. Pick up a book or two - to help you charge the right price for your products or services. 

Continue reading through our review for The Psychology of Price below!

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Topics: pricing books

7 Great Ways to Optimize Assortment With Price Research

Posted by PriceBeam on September 10, 2020

Maintaining an optimized assortment can have a positive impact on your pricing strategy and core business strategy. How many products should there be in an assortment, and how should they be priced individually? Does adding more products change the dynamics or psychology of customer choice? Or are there too many products that neither the customers nor the production department really can cope with? 

Finding answers to these questions and optimising your assortment has a number of benefits. It is a scientific process that combines both internal, external, past and present data. This is a challenge in many industries. Classically, consumer goods manufacturers go through an assortment optimization (read: reduction of number of products) every few years as they also add many new innovations. But all kinds of other industries have similar challenges: how many car models to offer? What kind of software packages / plans should a Software-as-a-Service vendor offer? 

 

If certain product categories are performing better than others, you can stock more of these products in your stores. On the other hand, if certain product categories aren’t performing well, you might want to consider creating reduction strategies for these products to clear stock. This will also improves customer satisfaction. By stocking top-performing products, you’ll be providing customers with the products they want to see on the shelf.

 

Assortment optimization drives sustainable growth, helping companies make informed decisions by understanding consumer purchasing behaviours and preferences between products. The following are 7 tips to optimise your assortment and boost top-line growth in your business.

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Topics: assortment optimization

Book Review - The Pricing Journey: The Organizational Transformation Toward Pricing Excellence

Posted by PriceBeam on September 8, 2020

.

The Ultimate List of Great Books on Pricing 

Individual Book Review:

 

The Pricing Journey: The Organizational Transformation Toward Pricing Excellence

Book Author: Stephan Liozu 

 

The Pricing Journey provides a unified guide to the behavioral ,organizational, and social features of pricing ― making use of the priniples of socio-technical change. Building on broad qualitative and quantitative research on multiple firms around the world, Stephan M. Liozu provides a practical guideline for management teams that aim to reach a higher level in pricing power.

The Pricing Journey  is one of the books selected from The Ultimate List of Great Books on Pricing we have compiled. Pick up a book or two - to help you charge the right price for your products or services. 

Continue reading through our review for The Pricing Journey below!

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Topics: pricing books

Book Review - The 1% Windfall: How Successful Companies Use Price to Profit and Grow

Posted by PriceBeam on August 31, 2020

The Ultimate List of Great Books on Pricing 

Individual Book Review:

The 1% Windfall: How Successful Companies Use Price to Profit and Grow

Book Author: Rafi Mohammed (2010)

 

Foremost pricing expert Rafi Mohammed shows businesses how to pick up a financial windfall and stimulate growth using the often-neglected strategy of setting prices. This book shows how moderate cumulative changes to an everyday business process- pricing- can yield important rewards.

The 1% Windfall is one of the books selected from The Ultimate List of Great Books on Pricing we have compiled. Pick up a book or two - to help you charge the right price for your products or services. 

Continue reading through our review for The 1% Windfall below!

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Topics: pricing books

Ultimate List of Great Books on Pricing

Posted by PriceBeam on August 26, 2020

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Topics: Pricing, Pricing Strategy, teaching pricing, value-based pricing, pricing books

What does your Price Positioning say about your Brand?

Posted by PriceBeam on June 16, 2020

Your brand is your promise to your customers. It’s what they are expecting from you when buying your goods or services. Pricing is just as important to brand equity as other differentiators, as one function of a price is that it conveys a quality message and therefore, can influence the conceptual place your brand takes in the target consumer’s mind.

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Topics: Marketing, price positioning, market research, value communication

7 Interesting Reads About International Pricing

Posted by PriceBeam on June 1, 2020

Companies that sell to multinational clients or sell their products globally will have to decide how to price their product in each market .Purchase power, needs, and preferences differ between countries and so does willingness to pay for a given product or service; to maximize profit, pricing research must be conducted for each market.

Have a look at our selection of 7 Interesting reads About International Pricing below:

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Topics: willingness to pay, international prices, international pricing, global pricing study, market research

Get Ready for Post-Crisis Business Recovery with Pricing Facts

Posted by PriceBeam on April 2, 2020

While the immediate issue for most businesses and countries is the shutdown caused by COVID-19 pandemic right now, it is also prudent to plan for how business recovery must take place once societies open up again. Many industries have experienced a collapse in demand, though some such as remote working and home deliveries have experienced a boom. Do you know how your customers and consumers will react once the crisis is over? Will they demand the same products or services? What specific features will be more valued, and what features or benefits will be devalued? Will your product/service become more valuable to your target market segment in August or September?

Your answer lies in our consumer/customer insights. Shopper sentiment, consumer buying behavior and value perception are key parameters to follow once we move into the recovery phase.

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Topics: Pricing, willingness to pay, crisis management

8 Great Books About Pricing

Posted by PriceBeam on February 18, 2020

In today's hypercompetitive global marketplace, a company's pricing policy can make or break the bottom line. Yet a surprising number of firms attempt to increase profits without the aid of a carefully and creatively designed pricing strategy.

Have a read at our list of best books about pricing strategies below!

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Topics: Pricing Strategy, pricing books