Across many industries, companies now offer access to virtually identical services and products under different pricing structures. Price discrimination has been most successfully implemented in services as diverse as communications (e.g. mobile 'phones), media and entertainment (e.g. cable TV), transport (e.g. flights), service and hospitality (e.g. hotels and restaurants), pharmaceuticals and utilities (e.g. electricity).
In the past, retailers relied on personal experience, manual tracking and pure gut reactions to optimise their assortment and pricing relative to their competitors but this manual approach is no longer practical or feasible in today's intensely competitive and highly dynamic markets.
Topics: Competitor Price Tracking
Most ecommerce retailers use cost-plus or value-based pricing strategies. These usually work satisfactorily but there are other effective ways to price your products that you may not yet have considered.
Topics: Ecommerce Pricing Strategies
"Companies that have well-defined pricing strategies are 40% more likely to realise their monetising potential than firms that don't have
An effective pricing strategy, one that drives conversions, must have
I'm guessing you want your business to be more profitable so perhaps you should look hard at how you price your products or services – and how those prices are perceived by your customers.
Topics: Pricing Experiments