Middlesex Consulting

DECEMBER 4, 2023

If you are responsible for pricing in an OEM business, you have three major revenue streams: finished products, spare parts, and services and service contracts. In 2023, I spent many days pouring through […] The post Why Pricing Services is Critical to OEMs Performance appeared first on Middlesex Consulting.

Consulting 78

Consulting Consumers Marketing 78

ShepHyken

APRIL 6, 2022

“Is customer service more important than price?” . The point is that price becomes less relevant when you know you’re going to get better service or have a better experience. . The result of that trust for the service and experience Amazon provides means price becomes less relevant to its customers. . The answer is, “No.”

Customer Service 125

Customer Service Customer Service Training Retail Customers 125

MiaRec

DECEMBER 29, 2023

Are you frustrated that you cannot find reliable pricing information anywhere? Are you trying to understand the general cost of Conversation Intelligence and Automated Quality Management solutions for your contact center?

Management 90

Management Contact Center Call Recording Analytics 90

MyCustomer

JANUARY 11, 2024

The UK energy price cap is rising – but what does this mean for customers? Martin Brown discusses the ways in which energy firms can support their vulnerable customers through further financial hardship.

Financial 97

Financial Customers 97

Beyond Philosophy

SEPTEMBER 7, 2023

We have multiple ways of evaluating prices. Understanding how customers evaluate pricing can help you correctly price your products or services. So, today, we will talk about three simple tactics you can use to maximize your pricing to gain profit. External reference prices can be from the bread aisle or the eggs.

Comparison 88

Comparison Retail Examples Customers 88

Help Scout

AUGUST 22, 2023

Learn about 10 pricing strategies based on the science of consumer behavior for inspiration and insight on how to effectively set your prices. Read the full article

Strategy 95

Strategy Sales Consumers How To 95

Clarivate

JULY 5, 2023

When AMJETIVA finally launched at the end of January 2023, its unusual, tiered pricing strategy made headlines. Amgen offers AMJEVITA at 55% below HUMIRA’s list price, $1,558 per 40 mg dose versus $3,461 per 40 mg dose of HUMIRA ® , and at just a 5% discount, $3,288 per 40 mg dose. from 91% in 2023 to 36% by 2031. The current U.S.

Innovation 97

Innovation Healthcare Strategy Insurance 97

Doing CX Right

FEBRUARY 12, 2024

Does price and deals win repeat business or customer service experiences? The post The Great Debate: Price Versus Customer Service in Securing Brand Loyalty appeared first on Doing CX Right. Uncover what sways consumer loyalty and actionable strategies. Read expert views now.

Loyalty 64

Loyalty Brands Customer Service Strategy 64

Doing CX Right

MARCH 1, 2024

Do You Want To Change Your Pricing Model Without Jeopardizing Customer Loyalty? The post Ensuring Customer Loyalty Amid Price Changes: Lessons from Wendy’s Public Backlash appeared first on Doing CX Right. Read and Apply Strategies Based On Case Study That Resulted In Consumer Backlash.

Loyalty 59

Loyalty Case Study Study Strategy 59

BirdEye

MAY 1, 2023

If you’ve ever struggled with figuring out how to price your products, you’re not alone. A Google search for “struggle with setting prices” will yield 542 million relevant search results. Many business owners don’t know how to price their products or services. Pricing your offers too low can negatively impact your profitability.

Strategy 98

Strategy Telecommunications Analysis Consumers 98

The DiJulius Group

FEBRUARY 28, 2022

What is a price myth buster? It is the false assumption of industries, companies, leaders, and their employees that they are losing existing and potential customers due to lower prices. The following are four excellent examples of price myth busters. Price Myth Buster #1 Don’t ask the Customers what they want, give them.

Groups 91

Groups Industry Examples Company 91

Middlesex Consulting

MARCH 13, 2023

No matter your time horizon, aftermarket parts pricing policies and management offers industrial original equipment manufacturers (OEMs) the maximum leverage to improve margins and profit. For most OEMs, a significant piece of their total business comes from selling spare parts, wear parts, and consumables.

Policies 78

Policies Consulting Consumers Industry 78

CSM Magazine

APRIL 28, 2023

Pricing is a critical aspect of any business, as it directly impacts the revenue and profitability of the organization. However, setting the right price for your product or service can be a challenging task, especially in today’s dynamic market environment. This is where price intelligence comes into play.

Competitive Advantage 52

Competitive Advantage Software Trends Strategy 52

Beyond Philosophy

SEPTEMBER 2, 2023

We are very judgmental, particularly when it comes to prices. Knowing that customers have different ways they evaluate your pricing that are sometimes inaccurate shouldn’t upset you, though. Knowing that customers have different ways they evaluate your pricing that are sometimes inaccurate shouldn’t upset you, though.

Retail 78

Retail Tips Connections Consumers 78

Middlesex Consulting

JANUARY 4, 2022

about 10% of all businesses are large and employ professional pricing experts to prepare both major quotations and set most product and service list prices. The post How Should I Price Spare Parts? In the U.S., The remaining 90% of U.S. businesses are SMBs — small to midsize businesses.

Consulting 78

Consulting Sales Marketing 78

Beyond Philosophy

SEPTEMBER 21, 2023

Catherine, one of our podcast listeners, wants to know how to establish her organization’s reputation for having low prices without the companion reputation for having cheap and low-quality products. The fundamental problem for many businesses is wanting a reputation for low prices and high quality. The reverse is true, also.

Conference 88

Conference Strategy Examples Communication 88

Beyond Philosophy

JANUARY 24, 2020

The Secret of Pricing. The post The Secret of Pricing appeared first on Customer Experience Consulting. Academia has a problem with names. They are not always, well, intuitive. Hyperbolic Discounting is an excellent example of a pertinent business area disguised in a difficult-to-interpret label.

Exercises 131

Exercises Insurance Consulting Loyalty 131

Beyond Philosophy

FEBRUARY 23, 2023

Flower asks, “How can I increase prices and not lose customers?” I’ve had many conversations with our clients and heard many TV interviews where people say we need to increase prices, but we can’t raise them that much because if we do, we’re going to lose customers. You can decrease your prices.

How To 78

How To Comparison Examples Customers 78

Beyond Philosophy

JUNE 18, 2021

What tactics do you use in your pricing strategy? There are various ways, such as running promos like “buy one, get one free,” or branding it into your customers’ minds like “everyday low prices.” However, I learned that organizations make a common mistake in pricing, and you can use science to correct it.

Comparison 88

Comparison Retail Strategy Sales 88

VDS

JANUARY 10, 2024

A key aspect of CCaaS is its flexible pricing models, which are vital for optimizing both operational scalability and cost-effectiveness. Choosing the Right Pricing Plan Businesses should consider their volume of customer interactions and demand predictability when selecting a CCaaS pricing model.

Contact Center 52

Contact Center Interaction Communication Customer Service 52

Helen Dewdney

MAY 26, 2023

What is the energy price cap? The price cap protects around 29 million customers on default or variable rates. The energy cap from 01 July 2023 Yesterday Ofgem announced a change to the energy price cap. Wholesale prices are currently at their lowest levels since May last year, but prices are still very high.

Government 73

Government Consumers Financial Consulting 73

Help Scout

AUGUST 22, 2023

Price increases need to be handled with care. to communicate with customers when you need to raise your prices. Here’s how (and how not!) Read the full article

Communication 75

Communication Customers 75

Beyond Philosophy

NOVEMBER 8, 2019

They get it wrong because of a concept called Price Image. Price Image is a concept that describes how people form impressions about whether your brand is high- or low-priced based on many non-price indicators. However, the Price Image is different from actual prices.

Airlines 112

Airlines Customers Retail Brands 112

QuestionPro Audience

FEBRUARY 28, 2018

First, and perhaps most importantly for consumers, is it’s price. And it seems to do that well; with an Apple A8 chip, a large woofer (a loudspeaker designed to reproduce low frequencies) and seven tweeters, by all reports, the HomePod does provide a good home music speaker. Now for it’s drawbacks.

Consumers 199

Consumers Technology Study Innovation 199

ShepHyken

SEPTEMBER 6, 2022

Shep Hyken interviews Bill Price, Amazon’s first global vice president of customer service, founder and president of Driva Solutions , and co-author of The Frictionless Organization: Deliver Great Customer Experiences with Less Effort. The post Amazing Business Radio: Bill Price appeared first on Shep Hyken.

Net Promoter Score 64

Net Promoter Score Effort Score Analysis Consulting 64

Beyond Philosophy

JUNE 5, 2021

Pricing strategy on its face doesn’t seem complicated. The goal is to get as high a price as you can to ensure you have enough margin to make a profit, while also moving inventory at a sufficient rate. So, the strategy is often to move the price around until you find the sweet spot that hits all these metrics.

Consulting 88

Consulting Strategy Financial Metrics 88

Clarivate

OCTOBER 25, 2023

The first 10 Medicare Part D drugs chosen for price negotiation by the Centers for Medicare & Medicaid Service treat a wide swath of conditions impacting seniors. Here CMS could realize the biggest impact, since a lower negotiated price should translate to lower coinsurance.

Healthcare 52

Healthcare Insurance Groups Industry 52

Beyond Philosophy

APRIL 28, 2022

Their offering does not have the lowest price, and they have no plans to lower it. Since price is something that can seldom be low enough, I figured some of you face the same issues, and I would share our advice here with you. Too many organizations don’t have a pricing strategy. However, their customers keep complaining.

B2B 88

B2B Communication Strategy Retail 88

My Customer

SEPTEMBER 21, 2023

Catherine, one of our podcast listeners, wants to know how to establish her organization's reputation for having low prices without the. 21st Sep 2023 By Colin Shaw Founder & CEO

How To 52

How To 52

Beyond Philosophy

MARCH 6, 2017

When we meet new clients at our customer experience consultancy, they often tell us they create value for their customers by offering low prices. They think “value” means “price,” and they believe that customers want to save money more than anything else. You reduce your price by 10 percent. The Emotional Signature.

Hotels 118

Hotels Guest Experience Hospitality Social Media 118