Blog
Many of us make New Year’s resolutions with great intentions, but perhaps miss carrying out some of them. Even if you made great progress this year, we hope you will join us in making and sticking to these resolutions. This is our sixth annual publishing of New Year’s Resolutions for Pricing
The holidays always remind me of a season of possibilities. When I was a little kid, I thought of possible great gifts Santa might bring and things I could do in the new year. Now that I am older, I anticipate my kids coming home to celebrate Christmas with us; and I think of the […]
Earlier this month, three friends and I enjoyed a golfing weekend at Streamsong Resort. We each purchased a bundle, The Tour Package, which included three nights at the resort, one round of golf on each of the three courses, daily breakfast, and a $50 credit for purchases in resort shops. Although I would make a […]
Late last month I presented at the Professional Pricing Society conference, along with several other pricing experts and practitioners. During a break, one of the attendees told me his company wanted to move to dynamic pricing, because they had seen very positive results in other companies who have done that. While learning from other companies […]
I have written posts in the past about the importance of developing analytics that use your data to understand where your pricing is effective and where it is not. See Pricing Analytics Can Improve Your Profitability and Just the Facts Ma’am. One important caveat is that you must measure the right things and avoid creating […]
In July, the University of Pennsylvania announced the offering of online degrees in Masters and Bachelors programs, which are designed to appeal to price-sensitive students. Last month, Forbes Magazine published an article skeptical of Penn’s new offering, University Of Pennsylvania’s Louis Vuitton Problem. The Forbes article concluded that the online programs are really an experiment […]
For my daily news, I subscribe to the Wall Street Journal, Miami Herald, New York Times, Washington Post, and the Florida Times-Union. Interestingly, I am likely to cancel the Times-Union soon because it charges the highest price and delivers the lowest quality. It is an excellent example of a business that tries to save itself […]
Five, five, five-dollar footlong. Who doesn’t remember that jingle? During the last recession, Subway announced their promotion for footlong subs priced at $5.00. Now, nearly 10 years after they introduced it, Subway has ended $5.00 pricing on the big sandwiches. It is about time! It is also a good reminder that although we want pricing […]
I am often asked where a client can lower prices to get more volume. Typically, they want to know which segments or customers are buying elsewhere and would switch to our client if offered lower prices. It seems like a simple question, but the answer is rarely simple and often frustrating to our clients. Our […]
Two weeks ago I wrote a blog post, Don’t Get Angry About Prices– Change Your Buying Behavior, in which I opined getting angry about pricing accomplishes nothing. Shortly thereafter, I read an article in the Washington Post, Do Airline Tickets Need Warning Labels?, followed by JetBlue and United raising their baggage fees. Meanwhile Southwest still […]
