Financial Profitability: How Pricing Teams Can Help Your Business Grow📌
In this article, I’m going to show you the real differences between how Australian business set and manage price using research and evidence. What is clear from our research is that highly skilled and knowledgeable pricing teams generate up to 1.5% more profit uplift for their businesses opposite cross-functional teams of generalists using traditional pricing approaches and methods.
Common Problems in a Finance Department are Often Found in Usual Places 🏙️
Common Problems in Finance Department: CVs and interviews are the worse predictors of success in a job. According to a report published by the HBR, the number 1 reason 82% of hiring managers gave for bad hiring decisions was inadequately qualifying candidates for key attributes…
What are the Types of Price Elasticity of Demand? Avoid a Messed Up Pricing Formula 🛢️
What are the types of price elasticity of demand? Is your formula messing up your pricing decisions lately? For example, consider the influence that this famous business economics 101 chart still has on most business executives’ view of price and revenue management. Yes, there’s a…
What Is Value-Based Pricing Strategy and How Can You Utilise It? ✏️
Despite the true definition of value being incredibly subjective, it remains a vital aspect for businesses to understand. Depending on your product offering, your business may need to use a value-based pricing strategy. Therefore, the way customers perceive value is key to unlocking your margins and…
Comparative Price Analysis – Using Data Effectively To Maximise Value 💎
Often pricing analysts complain about the quality of the data. There are many instances where the data coming out of the corporate systems is incomplete, inconsistent, untidy, non uniform. Before a pricing manager can understand customer value, they first need to have uniform and accurate data. This article explains why clean data is vital to customer pricing.