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Latest Pricing Insights

Upcoming Webinars about improving prices through research

Posted by PriceBeam on May 22, 2018

We are excited to announce three upcoming webinars in June:

You can learn more about each by clicking on the links and signing up. Once the webinars are live you will receive an email with a personal link to watch the streaming video, at your time and convenience.

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Topics: price research, price increase, price communication, pricing research, segmentation, price positioning

7 Ways to Getting Pricing Right When Launching in New Markets

Posted by PriceBeam on May 4, 2018

Pricing Managers, Marketing Managers, and Sales teams often find it more difficult to get pricing right when launching a product in a new market, as opposed to pricing the same product in an existing market. In theory existing-market pricing should go through the same steps as new-market pricing and look at value drivers and willingness-to-pay, but in many situations existing markets mean there is a reference point to base the price on. Such a reference point is lacking if pricing for a new market.

Here are 7 ways for getting the price right when launching in new markets.

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Topics: new product pricing, globalization, price communication, pricing research, segmentation

Knowing the Willingness-to-Pay of your Competitor's Customers

Posted by PriceBeam on March 16, 2018

Are your prices based on costs? Or a process of adding X% on last year's price? Or do you price based on what the nearest competitor is charging? Well, then of course you are in need of upgrading your overall pricing approach to value-based pricing, where prices are set based on the value you create. Often the value-based pricing strategy is supported by data and research about your customers willingness-to-pay. If you know what a customer is willing to pay, and what features she values, then value creation and value capture is much more accurate.

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Topics: price research, price communication, price positioning

5 Steps to Getting a Better Price for a New Product

Posted by Finn Helmo on February 21, 2018

Launching a new product, whether you are in a startup or a well-established corporate environment, can be a daunting task. Everything from product development to marketing materials, sales training, customer communication and pricing comes in play. One of the biggest determinators of success is getting pricing right: price too low and the profitability is broken, plus it is almost impossible to later increase the price (substantially). Launch at too high a price and you may not sell enough to get off the ground.

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Topics: new product pricing, globalization, price research, price communication, pricing research

6 Ways to Improve International Market Launches Through Pricing

Posted by PriceBeam on January 29, 2018

Barriers to entry and the difficulty of doing business abroad have reduced considerably over the last two decades, thanks to technologies such as the Internet. This means it is much easier to do business around the globe but also that brand and product communication is increasingly global. Customers or consumers in Germany can now see product features, prices and discounts offered in USA or Singapore, and may create bad publicity if they feel that what they pay for locally is not of the same value. International prices are also considerably more transparent than ever before. On the other hand, both willingness-to-pay and actual prices do differ considerably around the globe, be it of similar of even identical products. What an Indian or Brazilian customer is willing to pay for Product A may not be the same. Or, a German customer may value Feature B over Feature A whereas the Canadian or Danish customer really only cares about Feature B and maybe Feature C that is not even available in Germany.

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Topics: Pricing, willingness to pay, new product pricing, globalization, price research, price communication, international prices

5 Ways Price Research can Help with New Product Pricing

Posted by PriceBeam on January 26, 2018

Launching new products or services can be a daunting task. With everything from product development, marketing, sales training, customer communication, as well setting the price. Price research can help in various ways with these challenges.

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Topics: Value Proposition, willingness to pay, new product pricing, conjoint analysis, value-based pricing, price research, price communication

Price Communication: Convince Using Price Research

Posted by PriceBeam on December 11, 2017

Communication is key in any comprehensive price management setup. Price and Value Communication is how you communicate with the customers, and communication and training is what makes the difference between convinced sales people, who deliver value conviction to the customers, and sales people who are indifferent and not able to defend the company's prices.

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Topics: Pricing, price research, price communication

Communicating Price Increases: The Power of Dialogue

Posted by PriceBeam on September 15, 2017

Fact: Most companies should increase their prices.
Increasing prices can be daunting, and is certainly not a fun thing to do. Customers will get angry, some will have feelings of betrayal, and there is lots of uncertainty and risk. Just how angry will your customers get? And to what extent will this anger translate into churn?
Consequently, price increases tend to be postponed or avoided, despite the obvious opportunity for a profit increase.
Chances are you are not like most companies, and therefore shouldn’t increase your prices. Doing preliminary pricing research is essential so that your price increase is an informed decision, and not just based on your intuition.

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Topics: price increase, price communication