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Pricing Strategy: 3 Mistakes to Avoid When Increasing Prices

The Three Greatest Mistakes in Increasing Prices When our price consultants initially engage with a client in the manufacturing or distributing sector to improve profits through a new pricing strategy, we occasionally uncover a history of unsuccessful price increases.  Increasing prices is a fact of doing business for most manufacturing and distribution companies and when […]

How Much Profit Are You Leaking Through Your Pricing?

We don’t typically think of pricing as a point of profit margin leakage. In fact, we tend to think of pricing as the one component that returns value to our company. A closer look at pricing can reveal some significant margin loss and is worth the time to analyze. Take for example a recent pricing […]

The Price of Discounting

The practice of discounting prices is common in many industries. Often times, sales teams have some ability to discount on their own with additional authority levels that can be tapped with their managers. While many discounts are necessary to close a sale or encourage certain buying behaviors, there are many other discounts used unnecessarily. The […]

New Product? Set Your Pricing Strategy First.

Set Your New Product Pricing First We recently got a call from a company searching for help in establishing a pricing strategy for a new product. This is a common challenge for many companies. But, many make it even more challenging by waiting until just before launch to set prices. The company that called us […]

How to Beat Buyers in Price Negotiations: Sell on Economic Value

Purchasing departments in the United States spend $3 billion every year on pricing management technologies, or software, to help them better manage the prices they pay for goods and services. In contrast, selling organizations spend only $200 million every year on technologies to help them better manage the prices they charge for those goods and […]

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