A New Perspective on StrategyStreet
Here's What's New on StrategyStreet
We are pleased to advise you that we have just posted a new Perspective, “Meeting Falling Prices with Creativity” on StrategyStreet.
We developed this Perspective to help you navigate these difficult economic times. Prices are falling all around us. These prices are likely to continue falling, and stay low, for an extended period of time. The theme of this perspective is that, in some cases, a company may be able to reduce the spread of falling prices by making three choices to focus the price reduction on only some customer segments:
Choice 1 – choose an approach that reduces the customer’s price, or payment, within the context of a broader customer transaction.
Choice 2 – choose the segments that will be the recipients of the new lower price.
Choice 3 – restrict the new lower price to the chosen segments by employing one, or several, of the components of the price itself.
Over the last couple of years, we have been working on updates to our Pricing database in the office and to the Improve/Pricing section of StrategyStreet. We have a very large set of examples of price changes on which to draw. In all of these examples, we were able to find nearly 500 instances where a company had reduced price for only a few segments in the market. We developed our Perspective, “Meeting Falling Prices with Creativity” using these examples.
We have placed the Perspective on the site immediately, in order to help you as soon as possible. Within the next few weeks, we will put all of the examples we have of companies using these techniques on the Improve/Pricing section of StrategyStreet.
We hope this Perspective helps you in these trying times.
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