Economic Predictions, Steel Tariffs, Feedstock Volatility, and Pricing Strategies for 2018
Every year Nariman Behravesh, Chief Economist at IHS Markit, publishes a list of his top 10 economic predictions for the coming year. Economics is a notoriously difficult area that requires years of study, advanced degrees, and pragmatism that only experience provides. All that said, the business community if often wary of predicting the future, and for good reason. In the words of Lawrence J. Peter, “An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen.” Read more
Pricing in Uncertain Markets: Handling Foreign Exchange Movements
“The best-laid plans of mice and men often go awry,” said Robert Burns in 1786. And while he wasn’t to my knowledge a businessman, the saying holds true today.
When things change in commerce, pricing is one of the most effective levers we have to react quickly. Making the most of an opportunity (or minimizing a threat) is about balancing speed with sure-footedness. Here I’ll focus on unexpected foreign exchange (FX) changes, inevitable and unpredicted. Note these options apply to both positive and negative FX changes. Read more
B2B Price Research Methods to Set List and Target Prices
With kind consent from Dr. Ian Tidswell, we are happy to share his very interesting article discussing the different methods to set up the right prices in your business.
Having a robust way to assess customers Willingness-to-Pay (WTP) is a key capability required of 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 driven in part at least from not being familiar with the techniques, and the various challenges each presents, along with a more general lack of understanding of the importance of getting price right. Read more
2016-2017 Worldwide Pricing Salary Survey
Price f(x) is honored to sponsor the 2016-2017 Worldwide Pricing Salary Survey put together by Silicon Valley Pricing. It is our goal to help pricing professionals any way that we can. Normally we help them become more efficient and effective with their job, but today we are helping make sure they get fairly compensated for doing that job. Read more
Future of Pricing Webinar Summary
Gabriel Smith, VP for Product Strategy at Price f(x) with over 15 years of experience in pricing, discussed with Chris Herbert, President of Silicon Valley Pricing, the future of pricing industry, trends that shape it and the latest developments on the market. Here is a short summary of what Gabe and Chris spoke about. Read more
First Price f(x) Webinar “Future of Pricing”
Gabe Smith, Price f(x) VP for Product Strategy, will meet Chris Herbert, a skilled pricing recruiter, to talk about the future of pricing teams. They will discuss whether it’s more profitable to hire data scientists or invest in pricing software, how the broader availability of pricing software changes jobs of pricing professionals and whether there are any challenges for the current job market. At the same time, you can get some interesting insights from the Price f(x) product strategy and development or ask your specific questions at Q&A session. Don’t miss it! Read more