Ariel Banos, expert in pricing strategy, presents in this article a key aspect to consider when quoting proposals for professional services.
"... In his book "Pricing Creativity", Blair Enns exemplifies the big differences there can be in the price of professional work, using the cases of some famous logos.
In 1971, in the early days of his company, Nike CEO Phil Knight paid a design student named Carolyn Davidson the sum of US$ 35 (about US$ 200 at today's values) to create the "swoosh" logo. We are talking about the mythical logo that still identifies the Nike brand today.
Deploying all the analysis capacity to identify and value the differentials of the proposals, so that the customer is aware of the additional value of the products or services they will buy, is key to sell at higher prices.
Ariel Baños, founder of Fijaciondeprecios.com, exemplifies one of the cases in which strategies to sell at higher prices can be applied and explains the factors that influence this type of scenarios.
"The cost determines my selling price" and "let's lower prices to win customers and then start raising them" are some of the phrases that should be avoided when designing a pricing strategy.
Ariel Banos, founder of Fijaciondeprecios.com, has identified five phrases that are dangerous and that companies should avoid applying when designing their price management strategy.
Analyzing satellite photos to estimate the production capacity of an area or evaluating images of a product being sold on the streets to calculate its market-share are some of the business solutions that arise from the transformation of images into data.
Traditionally, when teachers or businessmen wanted data, they requested surveys. Data would be ordered, in the form of numbers or boxes checked on questionnaires.
Companies with teams dedicated to innovation, organizational structures that allow for agile decision making and that quickly migrated to teleworking, are those that have best adapted to the new commercial reality.
The pandemic brought about a scenario of changes in the business models, the companies had to apply radical changes in an accelerated way in order to successfully face the challenges represented by the changes in people's habits.
Promoting a risk management culture, defining possible scenarios by turning uncertainty into a variable and preparing to safeguard the company's operational continuity are some of the most important strategies for facing the coming year.
The pandemic that generated the spread of covid-19, caused changes in all business sectors and also generated an environment of uncertainty regarding the future of the economy.
The covid crisis forced companies to accelerate the digital transformation process they had been experiencing, forcing the implementation of new business strategies that, far from disappearing when the pandemic passes, will remain and be reinforced.
Crib economy, geolocalization, digital shopping... are terms that have always existed in the language spoken by marketing, sales and business strategy experts, but in recent months, such terms have once again echoed, and with great force, in the business strategy discussions of practically all companies in the world.
As a result of the fast emergence of the new commercial reality, several business models that were profitable until the first quarter of 2020, are now obsolete, forcing business leaders to rethink strategies to survive in this new scenario.
The spread of covid-19 generated radical transformations in the markets for goods and services, in the ways people work, modified several consumption habits, and even changed some tastes and preferences.
Understanding audiences and visualizing the client as the center and reason for the company's existence is fundamental to adapting business models to the new commercial reality.
The statistics, trends and projections that were used to analyze and define business models and strategies before the pandemic lost their validity due to the emergence of a new economic and commercial reality.
Verifying the new levels of demand, offering only basic products or services, and delaying investments as much as possible to recover cash flow, are some of the strategies that businesses plan to implement to face the new commercial reality.
Because of the covid-19 outbreak in Central America, governments decreed strict home quarantines and restricted most economic activities and the movement of consumers.
Does it make sense to keep doing surveys to evaluate, for example, the ranking of a brand, when all the real, honest, and unbiased information can be inferred from people's behavior on the Internet?
"... Traditionally, when teachers or business people needed data, they commissioned surveys. They obtained data in an orderly fashion, either in figures or in boxes marked on questionnaires.
The health crisis, quarantines and social distancing measures in Central American countries, forced individuals and companies to accelerate the adoption of new technologies, which caused the digital to become the center of all interactions.
In this scenario of covid-19 propagation, companies have had to migrate to the digital at great speed. The digitalization plans that companies were planning to implement in a period of 1 to 3 years are now being implemented in a few weeks, according to an analysis called "The Digital Agenda: Opportunities for the Service Sector", prepared by the Market Intelligence Unit of the Guatemalan Export Association (Agexport).
How many people live around a shopping center, how old they are, what is their consumption level and what products or services they are looking for, are some of the questions that can be answered with the new geomarketing tools.
Measuring the potential demand of micro markets, based on the evaluation of the environment of a shopping center and its comparison with other similar sales points, has become essential to design adequate commercial strategies.
Conveying solid arguments to highlight the importance of the product or service, offering goods with long-term guarantees and being considered essential, are part of the strategies that could increase companies' sales in the new commercial reality.
The changes in people's habits that emerged in the context of the mobility restrictions imposed by the pandemic accelerated the transformation of Central American markets and completely changed the way consumers behave.
Considerable investments in the digitalization of operations, the closure of small stores and the expansion of the commercial area of the best located sales points, is part of the strategy that companies are beginning to implement in the new context of business transformation.
Managers of large corporations agree that several companies were already making progress in digitizing sales and operations, but the pandemic ended up persuading decision makers of the need to focus on online sales, and simultaneously accompany it with a plan to transform physical stores.
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