6 Reasons Businesses Set Sh*tty Prices!
I’ve made over a million individual pricing decisions in my career…and I’ve seen 6 common reasons that businesses end up setting bad prices. Here they are:
3 Reasons Pricing is the Big Moment in Your Business
A lot of people are confused about pricing. I get it. Pricing is difficult. There is a ton of bad advice out there. Most people make their pricing decisions with little consideration for what the pricing decision says about them. The simple formula is price = value. But let’s go further and look at 3 […]
Ticketmaster, Taylor Swift, and Tickets.
The last few weeks have been filled with ticket news about Ticketmaster, Taylor Swift, Bruce Springsteen, and more… Interesting times to be sure. I was invited to the American Antitrust Institute’s panel in DC about monopoly power in tickets with the target being directly on Ticketmaster’s back. I went and listened. I took a bunch […]
Dave’s 7 Principles of Effective Pricing
I’m working on a new program to teach pricing called “Stop Pissing Away Your Pricing Power”… Pricing Power matters because it enables you to: Maximize profitability Maintain brand equity (you have to build some first, obviously) Create short cuts for your customers so that they make quicker buying decisions This morning, I wanted to prime […]
🛒Low Prices! That’s a Promise: Aldi
In the UK: Aldi’s sticking with low prices. The Big Idea: Brand Equity adds up slowly, but can get destroyed in a minute. That’s why Aldi’s plan to stick with their low prices during the cost of living crisis in the UK matters. Why This Matters: Most brands make a brand promise to their customers that they […]
📉Target & Walmart: Discount Early! Discount Often!
Discounts are for dummies! What to know: Target and Walmart plan to discount early and often this holiday season. The decision is because of “inflation” and “cost-consciousness”. In the last quarter, Target admitted that its discounting strategy to clear inventory wasn’t having the desired impact on sales. Customers weren’t rushing to buy just because merchandise was cheaper. […]
🏎️🔌No Haggle Pricing: Ford’s 4 Ps At Work🔌💰
Ford’s EV strategy teaches us that the 4Ps still matter. The Big Idea: Ford’s rollout of electric vehicles is challenging the old dealer-led business model. Why this matters: Buying a car has long been frustrating for customers. As Ford offers more EVs, they are putting more direct pressure on how a Ford is sold. Going forward, Ford […]