Some of our thinking
Background A key part of a pricing strategy is determining how to differentiate your brand. “What?”, you may ask. Isn’t brand differentiation normally accommodated in the communication strategy arena? This is true. However, it is also very strongly linked to a pricing strategy. This is because brands that are able to differentiate effectively are generally […]
The three brand trust questions you may be asking Many businesses face three questions around building brand trust: Do you always have to earn trust in advance? Or, are there other approaches to getting trust that is not based on past experience? Is brand trust only based on that which is obvious? For instance, are […]
The Value of Developing a Call to Action Why should you have a call to action? Is a call to action just about generating a sale? Let’s start off by defining a call to action. According to Wikipedia, a call to action refers to any device designed to prompt an immediate response or encourage an […]
The importance of developing an understanding of your brand, product or service What are the attributes you wish to communicate about your product, service or brand? Once you know what these are, and how they are unique, it becomes necessary to have a sense of where gaps exist in terms of what your target market understands about your […]
The importance of creating and maintaining awareness You can’t expect someone to be your customer if they do not know about you. Therefore creating awareness of your brand, product or service is essential. This facilitates the early stages of a sufficiently large pool of prospective customers who you can talk to for purposes of a sale, […]
Background Anyone who has done Economics 101 will have seen a demand curve with a price on the one axis and demand on the other. The principle is to demonstrate that demand declines as price increases, except in some unusual circumstances. Along the way, you will have learned that price elasticity is an indicator of […]
Background Do profitability and market share not always come together, you may ask? To some people this question is heresy. To others, it is simply obvious. The reason for this is that most business people have been brought up to believe that market share needs to be grown constantly, even if prices need to be […]
Pricing’s role in driving business success. 7 areas where pricing strategy can yield profitable outcomes.
Background Pricing is possibly the biggest profitability lever in your business! At first glance, this finding is often surprising. We know that pricing affects competitiveness and overall profitability. Yet, shrewd pricing can often be the fastest way to improving growth and profitability. This is because the mechanisms around pricing need not necessarily require other complicated […]
BackgroundAlthough a client may leave you for a variety of reasons, we generally find that there are two key drivers of defection that a pricing strategy can address.The first is when clients feel they are not getting value for money. The second, more worryingly, is when they actually feel that they have been cheated by […]
How well do you integrate your pricing strategy with your communications strategy? The 2 questions you should be asking.
BackgroundSuccessfully integrating pricing strategy and communications strategy relies on a focus on two broad areas:How do we make ourselves look attractive to prospective customers so they will buy our products and services?How do we make current customers like us enough so they will continue buying our products and services and speak favorably of us to […]