Realize

The Future of Pricing Software is…

May 2nd, 2019 (Updated 03/23/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Key Takeaways: Multiple industries have been disrupted by new technology because incumbents were comfortable with the status quo If pricing professionals don’t start adopting forward-thinking views of their data, there will of those who do The future of pricing is: fast and& flexible, takes into account omni-channel processes, is customer-centric, intelligent, integrated, and democratic As you may have guessed, pricing is something that I am extremely passionate about so no wonder I found my way to a company like Pricefx. One of the things that I do here is speak about pricing and its impact to business. More importantly though,...

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Insight

Price Optimization – What Is It – How to Get It

May 17th, 2019 (Updated 04/26/2021)

Ted Hartnell
Chief Architect and Developer at Scientific Strategy

Understanding the relationship between your pricing strategy, that of your competitors and your customers’ willingness to pay those prices was once exclusively the domain of large corporations. But with a recent breakthrough in artificial intelligence, powerful, actionable pricing insights have become accessible to anyone selling online. And that means you, too.   Meet Price Optimization, Your New Best Friend Before I make introductions, it is important to explain that Price Optimization is not the same as Price Monitoring and Price Matching. Price Optimization is price setting by the Willingness To Pay (WTP) of customers. Due to the recent advances in...

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Insight

The Best Pricing Research Methods for B2B Organizations

November 15th, 2018 (Updated 03/23/2021)

Dr. Ian Tidswell

Key Takeaways: B2B businesses need to conduct structured pricing research. There are four ways to conduct B2B pricing research: direct price experiments, customer prospective opinions (conscious and unconscious), historical experience and hybrid methods. Choosing the right pricing method for your organization is dependent on three factors: the number of new products, the number of products and the weight of investment in research. Having a robust way to assess customers’ Willingness-to-Pay (WTP) is a key capability for all companies. It’s surprising to me how many B2B companies rely on gut-feel or ad hoc processes to get this done. This may be...

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Insight

Lessons in Retail: Amazon’s Speed in Dynamic Pricing Leads to Disruption

May 1st, 2019 (Updated 03/24/2021)

Garth Hoff
Principal Pricing Solution Engineer at Pricefx

Omnichannel and B2B firms cannot afford to be slow in response to consumer demands. One of the ways Amazon disrupts its industry is by using dynamic pricing. Pricefx’s Price Builder and Price Analyzer help users accurately leverage the power of dynamic pricing. Both Meg Whitman of HPE and Mark Benioff of Salesforce.com chose to focus on speed at the 2016 Davos World Economic Forum Digital Transformation of Industries panel. Whitman said, “My view is that the future belongs to the fast,” and Benioff built on this by noting, “Speed is the new currency of business.” These reflections on speed and...

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Insight

Price Management Solutions – A Truck, Tree and Prevention View

January 23rd, 2019 (Updated 03/24/2021)

Gabriel Smith
Chief Evangelist at Pricefx

Key Takeaways: One issue that price management companies face is “The Truck”; having only one person who takes care of all or most of the pricing process Another issue that companies face is the “The Tree”; not having a system that can analyze and predict vulnerabilities in your pricing process Preventing these obstacles requires improving on the following factors: people, processes and systems At Pricefx, we speak to industry-leading companies every day about their pricing and quoting processes, and their opportunities to improve them. There are two recurring themes in these discussions, which I will call “The Truck” and “The...

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