Archive for 2015
Standard Service Pricing – Easy Enough but Not So Easy
The use of comparable equivalents leads to an improvement in the meaningfulness and accuracy of the benchmark approach, yet the determination of what constitutes the comparable equivalent is made by the consultant him/herself. This approach is fraught with error. Does the lawyer think too highly of him/herself or is he/she being too timid?
Read MoreArbitrage With Unofficial Exchange Rates
Much of this has to do with poor economic policy, the low price of oil (upon which much of Venezuela’s exports depend), and the strong dollar. In such situations, dollars become even more valuable to hoard, which in turn creates more inflation in the bolivar, leading to a positive feedback loop. But how does this lead to shortages of something as basic as toilet paper?
Read MoreGroupon’s Third Act
Both Williams and Mason are frank about past mistakes. They grew too quickly. They didn’t respond appropriately to criticism. Accounting was a mess. The business model required too much labor in place of operational efficiency and scalable systems. But both are optimistic about the core problem that the company is trying to solve: e-commerce for small and local businesses.
Read MoreEnsure Your Digital Marketing Strategy Supports the Business Goals
Your business plan should be the driver for every action you take, including developing your digital marketing strategy. From setting your ad budget to identifying where your target market hangs out, reading your business plan is like consulting a digital marketing compass that reliably points north.
Read MoreAn Overly Simplistic Approach to Pricing Strategy
Pricing strategy is not executed by simply raising prices. If that’s all it took, then every fool would do pricing strategy, and every business owner would have a clear pricing plan.
Read MoreSemiconductor Socket Wars – III
The war for the new world is not just different because of the absence of a defender – it could be even more complex since the sockets itself may not be pre-defined.
Read MoreCustomer Centric Pricing
Without a strong understanding of these customers, as well as the effort to continuously reevaluate this understanding, companies will see their share slip away to better positioned competition. Pricing requires just as much strategy as product; the right product at the wrong price is no longer the right product.
Read MoreBig Show Idea Vlog
Join Tim J. Smith PhD in a new video blogging series covering what’s affecting pricing, the economy and you. In this month’s vlogs, gain insight on everything from Imaginary Pricing to liquor sales in Africa.
Read MoreThe Pricing Function: Simple Questions with Complex Answers
Companies that are just beginning to build a pricing team should initially focus on defining the first year’s problems the team must address. Is it a price execution, discounting, setting, or strategy challenge, which most needs to be addressed? In some cases, the performance metric should be something correlated to profits, revenue, and share.
Read MoreBrands Valuations Go Topsy-Turvy Over Last 10 Years
Disputing the economic turbulence over the last decade, the BrandZ ratings show that most brand categories increased in value. Leaders were fast food and technology. Seven categories doubled their values—fast food, technology, beer, apparel, telecom, soft drink and retail.
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