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Pricing Demands Research! Value is the Customer’s Perception, Not Yours!

Good day from DC! 

Thank you to all of you for signing up. 

As I mentioned when I put the first edition out, I’m going to play with this a bit and share some of the stuff I’ve written, spoken on, or learned from around the world here in one place. 

Drop and Give Me 20…“:

David C. Baker has a really great book that he wrote a few years back called ‘The Business of Expertise’. 

Sam Menter suggested it to me once and I’ve now read it and re-read it 3 or so times. 

Mainly I go back and forth on the idea of “drop and give me 20” which is David’s way of saying that real experts have some kind of knowledge or thinking that people are paying them for. 

Discounts are for dummies! is the one that has helped me speak and work around the world, but I put down 19 other insights. 

I’m curious what yours are. Tell me in the comments. 

Can You Use TikTok for Market Research

You certainly can. 

In my #KelleyOnLocation class, I talked to my brand management students about market research and how it is a lot like being a pointillist painter. 

You can keep putting dots on the page for hours, days, weeks, and nothing makes sense, but all of a sudden you hit a tipping point and everything makes sense. This is the same with market research. 

One way you can kickstart the process is by using secondary market research to gain a hypothesis including TikTok. 

The big key and foundation of marketing: Are you listening to your customers?

Pricing Demands Research

Mary Kyriakidi and the team at Kantar put together a really smart guide to getting some insights that will help you with your pricing. 

Don’t listen to me, listen to Mary. 

Do your #pricing research. 

Price and Value are two different things

Price is what you pay. Value is what you recieve. 

Value is also entirely in the head of your customers. You can’t just tell people what they should value. 

You can manage the perception and work to create the perception you desire, but your opinion is meaningless. Only the customer’s matters. 

Howard Sherman writes about the state of theatre on Broadway and the West End through the lens of pricing and value, but also works to stimulate a conversation about the nature of value in the arts and expanding the arts. 

Ticket Resale is different all over the world:

Martin Haigh and the team at Total Tickets have put together a study about the secondary market from a global perspective. 

Which made the idea that Taylor Swift’s fans might have been the people most likely to resell her Era’s Tour tickets an interesting one. 

The answer: I’m not sure if the conclusion being drawn from the data is correct. 

A South Korean leader calls the practice “cancerous”. 

What do you think? 

Let me know in the comments. 

Messi moving to Miami has meant big business for Inter Miami

I’m most curious about the branding and long-term impact of Messi’s time in Miami because we’ve seen Major League Soccer bring in big name stars before. 

They’ve had impact, but the impact has not always carried over in the long-term. 

What’s your take? 

Messi also called MLS “a minor league”…so that can’t help. 

Thank you for reading! 

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