Home | Consulting | Case Studies | Books & Media | Online Courses | Press | Training | Events | About Us
Wiglaf Pricing

Pricing Strategy

Strategically Reacting to Competitive Price Pressures

Thursday, 21 August

THREE SESSIONS
Singapore Time (Asia) @ 12:00 (12 PM)
Prague Time (EU) @ 15:00 (3 PM)
Chicago Time (US) @ 11:00 (11 AM)

LIVE Online Webinar (No Recordings)

Register with bclowe@wiglafpricing.com

Abstract

A competitor lowers their price and you have to decide:  follow or hold firm?  Or, a competitor raises prices and you have to decide:  follow or hold firm?  Or, a new entrant with a disruptive business model enters and you have to decide:  lower prices or ignore?

Every day competition changes.  As pricing professionals, we are called upon to weigh in on the decision of how to react to competitive price pressures.  When should we respond with a pricing action?  When should we ignore competitive price moves?  What price moves can we take that will improve, or at least maintain profitability?  When will a price reaction make no real difference to the outcome?

In Strategically Reacting to Competitive Price Pressures, Tim J. Smith, PhD, Managing Partner of Wiglaf Pricing, will discuss the Competitive Price Reaction Matrix and how leading firms are using mental calculus to improve their outcomes.

Attendees will learn

  • The key dimensions to consider when evaluating pricing actions and reactions
  • The competitive price reaction matrix
  • Case studies in winning, surviving, and moving-on in the face of competitive price pressures

SMU-SME

PRICING STRATEGY DEFINED IN THREE QUESTIONS

Wednesdy, 27 August 2014
3.30pm to 5pm

Singapore Management University

Function Room 4.1 & 4.2
Level 4, Administration Building
Singapore Management University
81 Victoria Street, Singapore 188065

Learn more at  http://usaei.smu.edu.sg/events

Abstract

There are three key questions that must be addressed for defining any pricing strategy for a company, and each must be asked from the customer’s perspective, not your own. 

1:  What is the alternative?
2:  Are you better or worse? 
3:  Why should I care?

So if you know little about pricing or need to quickly decide on a pricing strategy, just ask these three questions, and ask them from the customer’s perspective.

Is it that simple? 

Come down and find out how getting your pricing right is crucial to the success of every product, and even to the very existence of your company. 

Presented by Tan Boon Ann, Partner at Wiglaf Pricing Asia, and Dennis Ng, Partner at Wiglaf Pricing Asia

PPS_Brazil

How to Price

An Examination of the Techniques
and Strategies of Value-Based Pricing

by Tim J. Smith, Managing Partner

Wednesday, 27 August 2014

Innaugural Latin American Pricing Workshops and Conference
Sheraton World Trade Center Hotel
Sao Paulo, Brazil

Register at pricingsociety.com

Abstract

Value-based pricing is pricing according to the value of the benefits delivered to customers. The pricing industry has broadly accepted value-based pricing as superior to alternative paradigms. But how do executives functionally arrive at prices that are aligned with the principals of value-based pricing? What techniques do they use? What are the tradeoffs between the competing methodologies? What process steps are executed to deploy these methods? And how can these methodologies be used to engage positive collaborations with product managers, salespeople, and marketing communications professionals?

In How to Price, Dr. Tim J. Smith clarifies the three industry-dominant pricing methodologies in practice today and their relationship to value-based pricing: exchange value models, economic price optimization, and conjoint analysis. Each of these methodologies is an industry-proven, academically accepted best practice for addressing pricing challenges. Each is superior in some cases but inferior in others. Each uses market research data to understand customer choices, but the sources of the data vary greatly.

The objective of this course is to inform executives of the dominant pricing methodologies in the market and enable them to select the right approach for whatever price-setting challenge they face.

 Attendees will learn:

  • The proper definition of value from the customer’s perspective, and therefore what value-based pricing really means.
  • How to price new products and services according to their exchange value to the customer
  • How to gather the information required for quantifying exchange value
  • How to conduct a profit sensitivity analysis to inform pricing decisions
  • How data can be used to conduct economic price optimization
  • Why economic price optimization is limited in its application
  • Why pricing based on the customer’s perception of value is so important
  • What conjoint analysis is and why is it superior to other survey-based pricing approaches
  • How to identify neutral, skim, and penetration pricing strategies
  • How to anticipate competitor price response to pricing actions
  • How to identify opportunities to increase profit through examining the relationship between prices and benefits

PPS Vegas 2014

Advanced Quantitative Methods in Price Setting and Price Variance Management

by Tim J. Smith, Managing Partner

Tuesday - Wednesday,
21-22 September 2014

PPS 25th Annual Fall Pricing Workshops and Conference
Encore at Wynn Las Vegas Hotel
Las Vegas, Nevada, USA

Register at pricingsociety.com

Abstract

Value Based Pricing is pricing according to the value of the benefits delivered to customers. Industry has broadly accepted value based pricing as superior to alternative paradigms. But how do executives functionally arrive at prices that are aligned with the principals of value based pricing? What techniques do they use? What are the tradeoffs between the competing methodologies? What process steps are executed to deploy these methods? And how can these methodologies be used to engage positive collaborations with product managers, sales people, and marketing communications professionals?

In Advanced Quantitative and Qualitative Methods in Price Setting and Price Variance Management, Tim starts by clarifying the three, industry-dominant price setting methodologies in practice today and their relationship to Value Based Pricing: Exchange Value Models, Economic Price Optimization, and Conjoint Analysis. Then proceeds to explore methods for managing price variances, both promotional pricing and discounts, including the three commonly used tools for analyzing firm-specific discounting practices, and the four commonly used tools executives have to restrain them.

We will explore economic models, financial models, and marketing models to demonstrate the principals. Attendees will be required to bring a laptop with Microsoft Excel for this workshop. This workshop consists of in-class exercises applying quantitative methods to pricing and discount monitoring.

The objective of this course is to enable participants to apply these techniques to the pricing challenges and datasets in their own companies.

 Attendees will learn:

  • The proper definition of value from the customer’s perspective, and therefore what Value Based Pricing really means.
  • How to price new products and services according to their Exchange Value to the Customer
  • How to gathering the information required for quantifying Exchange Value
  • How to conduct a Profit Sensitivity Analysis to inform pricing decisions
  • How data can be used to conduct Economic Price Optimization
  • Why Economic Price Optimization is limited in its application
  • Why is pricing based on customer perception of value is so important

Wiglaf Pricing

Beowulf Professionals Like
Wiglaf Pricing

“Really enjoyed your high octane presentation: it makes pricing interesting & relevant.”

Armin Kakas
Revenue Management
MillerCoors LLC


“Very engaging & thought provoking. The practical & real world cases that you brought up to explain some of the concepts, made things very easy to understand.”

Karthik P
Genpact Analytics


Wiglaf Pricing helps us create compelling arguments for philosophical change to old-school pricing strategies.  We enjoy learning new ideas with Wiglaf’s unique, dynamic storytelling approach!

Deborah Prickette
Director, Global Strategic Planning & Pricing
Emerson Process Management

Highly engaging and entertaining as they cover strategic issues in pricing.  Nice work also in drawing lessons from history applicable to the issues being discussed…”

John Suparman
Value Proposition
PPG Fiber Glass


“Excellent presentation. Good practical advice for managing price effectively.”

Calin Costian
Product Strategy & Pricing
HP


“Thank you for your insightful session on a different perspective to pricing. Your presentation went through a complex topic yet was easy to understand. “

Prasadkumar Dethe
Program Manager, India
HP


"Thorough and thought-provoking … an academic review of the latest findings in the pricing science; [yet] still they remain highly actionable and very relevant for the business life."

Roberto Bedotto
Pricing Director
Carrier HVAC


"Your presentations cover relevant and practical topics, with practical illustrations to bring your messages to life in an entertaining and engaging way."

Helen Taylor
Senior Global Pricing Manager
Sony Ericsson


"Thank you for another excellent presentation. As is typical of your style, your presentations are heavy on actionable ideas ..."

Shawn McNeil
Pricing Manager
Masco Retail Cabinet Group


“Provocative and relatively sophisticated
compared to a lot of Pricing discussions.”

Wesley Woolbright
Director, Corporate Pricing
Safeway Inc.


“Not only do you learn to fish, you learn to price the fish for the maximum profit.”

John Yoo
Commercial Finance Manager
Crown Bolt, LLC

 

Pricing Strategy Book Release

Pricing Strategy Book Release party photos

From Sunday, January 9, 2011, Buckingham Athletic Club,
Chicago, USA

 

Home | Consulting | Case Studies | Books & Media | Online Courses | Press | Training | Events | About Us
© Wiglaf Pricing 2012
Wiglaf Pricing Strategy Consultants