Practitioner’s guide for those conducting their own pricing research, focusing on the Van Westendorp Price Sensitivity Meter. [Read More]
Pricing Gurus and 5 Circles Research Blog Posts
Customer satisfaction: little things make the difference
Unfulfilled promises by the dealer and Toyota of America deepen customer satisfaction pothole Toyota of America and my local dealer could learn a few simple lessons about vehicle and customer service. When a customer asks for a simple improvement to service procedures, let the customer know you’ll do better in future. Thank the customer for [Read More]
Are you pricing based on cost rather than value? Why?
At Pricing Gurus, we believe that value-based pricing allows companies to achieve higher profitability and a better competitive position. Some companies disagree with that perspective, or feel they are stuck with cost-based pricing. Let’s explore a few reasons why value-based pricing is generally superior. I like this definition from Wikipedia – “Value-based price is a [Read More]
Dutch ovens: paying a lot more means better value
An article on Dutch ovens in the September/October 2018 of Cook’s Illustrated gives food for thought (pun intended) about the relationship of between price and value. Sometimes higher value for a buyer means paying a lot more money – good news for the seller too. Dutch ovens (also known as casseroles or cocottes) are multipurpose, [Read More]
Methow Valley Ski Trails gets pricing right
The Methow Valley is a remote area in Eastern Washington State. It’s a destination recreation area year-round, and even more so in the winter when the North Cascades Highway is closed making a circular drive impossible. I’ve enjoyed skiing the trails in the Methow Valley on a number of occasions, and on a recent visit [Read More]
This survey Hertz: lack of thought
I recently took a survey sponsored by the Hertz Corporation, intended to assess the appeal of several new approaches to services. This post discusses some of the problems I found, and why you should avoid creating your surveys like this one. [Read More]
Valentine’s Day: think about seasonality and annual trends
Whether or not you have a retail product or service, there are lessons to be learned from Valentine’s Day. What are the annual seasonal variations in your business and what are the trends over longer periods? How do trends affect your research? [Read More]