January 2010 WJ 8.9 Relationships, Airline Pricing
Nurturing Relationships More Important Than Ever
James T. Berger, Managing Editor
The economic downturn may prove a major opportunity to mid-size companies looking to change advertising agencies.
For those who survived the recession battered and bruised, the new decade figures to be just as challenging as the last one. Those businesses that survive and hopefully thrive will do so based on the ability to provide ever more value to clients and customers and to nurture relationships.
It’s Time for a New Booking Class in Airline Pricing: Coach Plus
Tim Smith, PhD, Chief Editor
Since the introduction of global distribution systems for airline tickets and hotel rooms, the commoditization of coach flights was foretold. The internet has only exasperated the problem, leading to the despairing cry that, in coach pricing, “an airline can only price as smart as their dumbest competitor.” To combat this horrid position, airlines may want to consider creating a new “Coach Plus” booking class.
“The purpose of business is to create and keep a customer.” Peter Drucker, 1909-2005
The relationship management continuum begins before the initial sale is made.
Businesses that thrive will do so because they provide ever more value to their customers and nurture their customer relationships.
“Efficiency is doing things right; effectiveness is doing the right things,” Peter Drucker
In most cases, it is better to be a middling company in a profitable industry than a leading company in an unprofitable industry.
If you don’t like the business you are in, change it.
“Knowledge has to be improved, challenged, and increased constantly, or it vanishes,” Peter Drucker
Tim Smith, PhD of Wiglaf Pricing Presents Bundling's Impact on Pricing an Pricing Online Course Produced by the Professional Pricing Society
Hotels bundle Saturday brunch with a Friday-night stay-over. Microsoft bundles Word with Excel in Office. O2 bundles ADSL with Mobile. Restaurants bundle a three course meal into a price fixed offering. Business customers ask for "the entire bundle, but at a discount."
Has bundling become silver-bullet pricing tool for all pricing and selling problems or is it a pernicious value destroying discount disguised as a rose?
Clearly, it lies somewhere in the middle, and pricing professionals need to know where.
Bundling's Impact on Profits reveals the power of bundling to improve profits as well as its limitations and potential pitfalls using case studies, economics, financial analysis, and marketing strategy.
Tim Smith, PhD of Wiglaf Pricing Presents Decisions in Add-on and Versioning Price Structures an Online Pricing Course
Produced by the Professional Pricing Society
Many times, core products can be enhanced with complementary products or additional features. In establishing price structures, companies must determine if the enhancements should be sold separately as add-on products or included in enhanced versions of the product. Informing the choice between add-on and versioning price structures are issues of not only cost structures, but also economic theory, market segmentation, consumer behavior, and neuroeconomics. Once a company chooses either an add-on or versioning structure, they must then set discounting and price promotion policies in light of key profit drivers.
Decisions in Add-on and Versioning Price Structures provides an in-depth analysis of the tradeoffs between selling enhancements in an add-on price structure versus a versioning price structure. It then expands these core issues by looking at profitable discounting and price promotion strategies within each. Case studies are drawn from consumer retailers, consumer branded goods manufactures, and industrial product and service providers.
J.D. GERSHBEIN, President of OWLISH COMMUNICATIONS, and a contributing editor to the Wiglaf Journal, has emerged as the top LINKEDIN PROFILE WRITER in the world. Widely acknowledged as a global LinkedIn strategist, J.D. has inspired thousands of executives and entrepreneurs on the astonishing potential of LinkedIn. Noted for his unique take on personal branding, razor-sharp wit, biting sense of humor, and engaging, storytelling style of public speaking, J.D. is one of the most original personalities in Social Media.
J.D. has just cut the first in a series of video marketing pieces. Please visit:
Non-profit event listings are free at the editor's discretion. Commercially oriented events require payment for advertising services.
Your privacy is important to us.
The Wiglaf Journal maintains the privacy of its subscribers and does not share contact information with third parties. Registration information is collected solely in order to better manage our services. You may change your subscription at any time. If you have any questions regarding the privacy of information collected about you, please contact our editor.
We use third-party advertising companies to serve ads when you visit our website. These companies may use information (not including your name, address, email address, or telephone number) about your visits to this and other websites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies,
click here
In addition, we Google, as a third party vendor, uses cookies to serve ads this site. Google's use of the DART cookie enables it to serve ads to your users based on their visit to your sites and other sites on the Internet. Users may opt out of the use of the DART cookie by visiting the
Google ad and content network privacy policy
