In our last post we talked generally about generic pricing strategies. Where our price should be in relation to our product strategy, competitors and customers.
That’s great but it really doesn’t help to understand how you should set the FINAL tactical price. Fortunately, that’s where data driven consumer psychology can help. And now I’d like to go to a micro level in setting actual pricing to add value to your operations.… Read more
Over the festive season I’ve been caught up in a greater focus on finding objective data driven proof for many of the “ideas, theories, gut-feel” commercial people have about a number of commercial issues.
It all started with Byron Sharp’s books- how brands grow, and how brands grow part 2 an insightful, data laden read I commend to you. But I have also been digging into other perceptions we take for granted and to see if there is empirical, data driven proof to support them.… Read more
As a new General Manager, you’ll have to start making decisions, and its good to have some background on Decision Theory. So here’s some basics on how to think about decisions, and how to assess what sort of risk taker you are.
OK, imagine the following, you are offered a strategy that will give you a 50/50 chance of earning $1,000 profit.… Read more
We all have new Bosses come into our work lives. Because of this I’d like to share one tip I found to really build a solid and trusted work relationship with a new Boss who joined our business.
Use the power of one simple regular email to your boss.
I say e-mail as I believe your new Boss will probably be very busy understanding the new roles and responsibilities and getting up to speed in your business. … Read more