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Channel Pricing: Best Practices - Pricing Chat RECAP

Pricing expert Adrienne Gordon of Pricingepowered.com shared with us on Twitter strategic tips about advancements in channel pricing in this #PricingChat RECAP.   What is Channel Pricing? How can it work to improve business? Specifically in retail or e-commerce?
When the final consumer of your product are services are funneled through partners, such as distributors or retailers, they are frequently called channel partners. Channel pricing strategies must consider not only the final consumer price, but also those partner price points. -- Adrienne Gordon
Adrienne shares a few ways to make Channel Pricing work for business. View the full chat below:  

Positive feedback from the #PricingChat:

Screenshot 2015-11-18 14.36.55 About Adrienne: Adrienne Gordon dedicated her career to pricing since 1999, working with multiple companies in several different pricing roles. She began her pricing career at Parker Hannifin as the project manager of their global strategic pricing initiative. During this time, Adrienne worked with multiple consulting groups and revenue optimization technology companies as she helped architect the vision for Parker’s Best in Class pricing approach. From there, Adrienne took the Director of Pricing role at American Greetings, where she executed a multi-phase value pricing research effort ultimately resulting in the redesign of their approach to pricing cards. At Eaton Corp, she worked with several different businesses on strategic projects as an internal consultant. Finally, in 2009, Adrienne became an external pricing consultant based in Northeast Ohio, working with dozens of companies in the manufacturing and distribution space. Prior to pricing, Adrienne held several roles in Technical Sales and Marketing. She holds an MBA in Marketing from Western New England College and a Bachelor’s in Engineering from Boston University. Today, she is a blogger, author, and entrepreneur. For more information about Adrienne's pricing services, company strategies and Channel pricing, visit PricingEmpowered.com. Share the date of our next #PricingChat - view the calendar on our Facebook Page! Continue reading

SEPTEMBER: Driving Customer Performance With Simon Kucher & Partners

PPS Webinar- 9.14.15

Driving Customer Performance Through Discounts and Rebates With Simon Kucher & Partners

When: Monday September 14, 2015 @ 12PM- 1PM EDT Webinar Details: In many B2B companies, discount and rebate structures are inconsistent and do not have a clear function. This frequently leads to situations where money is left on the table. The solution lies in the smart management of discounts and rebates. In recent years, many companies have adopted systems that rely less on the skills of the sales force and create a more objective link between price reductions and customer performance. Designing and implementing functional discount and rebate systems is not an easy task, but typically best in class companies increase profits by 1 to 4 % points in EBITDA. Philip Daus, Senior Director, with Simon-Kucher & Partners, will lead a webinar answering the following objectives:
  • Discount and rebate management systems that are aligned with strategic company objectives that help to increase sales and reduce costs
  • (Re)gaining discipline, consistency and control in customer discounting
  • Best practices for transitioning to an optimized discount and rebate system
Our webinars are FREE and open to the professional public.

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Influencing Customer Price Acceptance With Tim Smith

Learn the strategic influences of customer price acceptance in this Online Pricing Course with Tim Smith, CPP

Obtain valuable pricing strategies, access to industry publications, research and more resources for pricing professionals around the globe.  The Professional Pricing Society's online education offerings are taught directly from leading pricing experts from around the world. Take an on-demand course from anywhere in the world, at any time!

Every PPS Online Course qualifies as one (1) CPP Credit towards a CPP Designation.

Influencing Customer Price Acceptance With Tim Smith

PPS online course - Tim SmithWorkshop Details: Why is raising prices so difficult but lowering prices so easy? What can marketing communications and sales do to improve price capture? What kinds of switching costs affect pricing? Why do prices end in nines? Why do mattress salesmen show customers outrageously expensive beds first prior? Why are price cuts easy but price increases hard? How do customers think about prices and what can a company do to influence their expectations positively? In the "Influencing Customer Price Acceptance" Online Course, Tim Smith will explore over 17 different economic, perceptual, behavioral, psychological, and neurological influences to customer price perception. Some factors can be influenced by the actions of sellers, others are inherent within buyers, and still, others are impacted by competitors. All are important in understanding and influencing customer price acceptance. Course Benefits: This Online Course addresses pricing issues in business and consumer markets, appropriate for pricing, marketing, sales, and senior executives. Attendees Will Learn:
  • Hidden economic effects influence customer purchase behavior and price perceptions
  • Customer perception challenges that influence how customers perceive prices
  • Why prospect theory accurately predicts challenges customers have in making rational tradeoffs between price and value
  • How anchoring and slow adjustment drive price expectations
  • Implications of Prospect Theory in consumer behavior, including anchoring, endowment effects, framing, and more.
  • How trust is defined within the buyer’s mind.
About Tim Smith: timsmith_small Tim Smith, PhD, CPP is the Managing Principal at Wiglaf Pricing, Adjunct Professor of Marketing and Economics at DePaul University, and Academic Advisor to the PPS Certified Pricing Professional program. Smith focuses on the use of quantitative and qualitative research to enable firms to drive profitable top-line revenue. He began his career as a research scientist in quantum mechanics before his interest in transferring technological advances to societal implementations led to pursuits in business strategy. Smith holds a BS in Physics and Chemistry from Southern Methodist University, a BA in Mathematics from Southern Methodist University, a PhD in Physical Chemistry from the University of Chicago, and an MBA with high honors in Strategy and Marketing from the University of Chicago GSB. Learn more about this Online Course offering and REGISTER today! Continue reading
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