New Brainstorming Ideas to Develop Your Pricing
We are pleased to announce that we have completely rewritten our Pricing brainstorming ideas on StrategyStreet.com. You will find them in the Improve/Pricing section. These new brainstorming ideas are the culmination of several years of data gathering and analysis. Here is a quick overview of what they contain.
We offer two sections of new ideas one to reduce price and another to raise price. In both sections, we help you follow three sequential choices:
The first choice determines your objective with the change in price.
The second choice identifies the segments who will receive the new price change.
The third choice employs various components of price to narrow further the segments receiving the new price, or to reduce the effective cost of that price.
The choice sequence in both segments is the same, but that is where the similarities end. In the Reduce Price and Raise Price sections, the alternatives for each choice vary from one another. That is, the objectives in reducing price are different from those for raising price. Similarly, the segments to receive the new price and the components of price you will use to convey the price to those segments vary from one another.
These new brainstorming ideas draw from our extensive database of pricing approaches. This database covers the period from 1985 until 2010. The Reduce Price set of brainstorming ideas includes 255 concepts with 1880 examples, so there are an average of seven examples for each concept. The Raise Price brainstorming ideas include 200 concepts and 1170 examples, for an average of six examples for each concept.
We are confident that these brainstorming ideas can greatly improve your range of new ideas to address your pricing situation, as well as the speed with which you can arrive at these new ideas. In particular, the Reduce Price section should help you navigate the deflationary waters we seem to be sailing today.