What are the Types of Price Elasticity of Demand? Avoid a Messed Up Pricing Formula 🛢️
What are the types of price elasticity of demand? More importantly, how do they impact your pricing strategy? If your pricing decisions have been feeling off lately—customers resisting price changes, sales fluctuating unpredictably, or margins shrinking—you might be relying on a formula that doesn’t fully capture…
Is Your Pricing Methodology and Execution Strategy Holding You Back? 🔣
Pricing methodology is often seen as tricky, especially when trying to understand what goes behind it. Many business executives and managers shy away from talking about their pricing strategy, fearing it will give competitors an edge or, more commonly, that it won’t hold up to scrutiny. …
How to Make a Price Match Strategy Work Without Sacrificing Profits 🥊
Suppose you own a small corner shop in suburban Melbourne. A loyal customer comes in, holding their phone. “I saw this same jar of peanut butter cheaper at Aldi. Can you match the price?” You hesitate, knowing that saying no might lose their trust. But agreeing…
Are You Ready to Upgrade to Advanced Pricing Techniques? 🏦
In today’s fast-moving financial world, technology keeps reshaping the pricing techniques we need to work efficiently. Take ING Groep NV, for example. The global bank recently introduced an AI model to take over currency pricing—a task traditionally handled by traders. Using “reinforcement learning,” this system adapts…
The Key to Effective Utilisation of Pricing Solutions in Insurance Companies ⚗️
Insurance pricing is changing fast as digital transformation reshapes the industry. Pricing solutions like big data and AI are driving new pricing models. At the same time, evolving customer needs are pushing insurers to adapt, offering more personalised and responsive pricing. This shift reflects a broader…
