Tag: pricing

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How much should I spend advertising my B2B business

The amount of money you should invest in building the image of your brand is a very contentious subject.  What is happening is the amount of investment in brands is falling, and the number of brands investing ahead of their share of market is decreasingand the effectiveness of advertising campaigns has declined with Short-termism is rising.

 

But recent in-depth research by Binet & Field has shown ( see here ,  here and here) that to grow your business you need to invest more in image building advertising and avoid the short-termism of sales activation.… Read more

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Should I believe my Customers?

Is market research accurate?

I’ve been spending a little time dispelling some myths about marketing from the work of Prof. Byron Sharp, et al, and as a sideline, I’d like to talk about marketers and market research.

Is market research accurate- well it depends. As business leaders and marketers we spend a large part of our lives listening to customers, and typically the most effective means of doing this is through market research.  … Read more

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New pricing research…

Phew, we’ve had a couple of months on pricing, and now this is the last of those posts.

Since researching how you can influence pricing, new research has come to hand, so I’ll summarize it here.

TACTIC 32: Sort Prices From High to Low

You can influence customers to choose a more expensive option if you sort products by descending price (i.e.,… Read more

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Price to avoid harmful practices

One of the key messages I’m trying to inform General Managers about is that when it comes to consumers, we have to be expert psychologists. Nothing is ever as simple as it seems. And when it comes to consumers price is as much a perception as in any other area of consumer engagement. 

And that’s good news. There are no universal standards that dictate whether a price is high or low — it all depends on the consumers perception of that price and how consumers learn about how pricing works.… Read more

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Price to enable price increases

One of the key messages I’m trying to inform General Managers about is that when it comes to consumers, we have to be expert psychologists. Nothing is ever as simple as it seems. And when it comes to consumers price is as much a perception as in any other area of consumer engagement. 

And that’s good news. There are no universal standards that dictate whether a price is high or low — it all depends on the consumers perception of that price and how consumers learn about how pricing works.… Read more