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How Do Pricing Professionals Perceive the Different Pricing Software Solutions?

Article by Chris Herbert, President of Silicon Valley Pricing

With the advances in technology and the new pricing software solutions hitting the market, pricing professionals have a lot more options than ever before. But with more products come more questions about price and value. Given that only 5% of pricing professionals say there isn’t a need for pricing software and only roughly 50% of pricing professionals using a solution, there will be a lot companies choosing a pricing solution soon. So, what better way than hearing about pricing software from pricing professionals themselves? See how pricing professionals perceive the value and price of some of the products on the market they have heard of in my most recent survey (on a scale of 1 to 5).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Observations
  • Price f(x) is the only company to have a perceived value over its perceived price
  • Three groups of products have formed:

High Price & High Value: (Pros & Vendavo) by themselves with a perceived price point well above the rest and at the top of perceived value as well.

Low Price & High Value: Standing by itself is Price f(x) in its own category due to its low price point, but despite the low price it is at the same level of value as Pros & Vendavo.

Mid Price: There is a large cluster of other 6 products with middle of the road price and down from the top group on value. Some depending on the industry I’d argue have high value, if not the highest.

  • The increased value that once existed for the top products and warranted a million dollar price point doesn’t appear to be there anymore. The rest of the has a roughly 9% difference in value.
Key takeaways
  • The value proposition isn’t there for the multi-million dollar pricing software anymore.
  • Pricing software is now affordable and not just for Fortune 500 companies.

You can comment and discuss the topic under the original post by Chris Herbert on LinkedIn.

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