Pricing Strategies for Uncertain Times
HBR IdeaCast
English - July 07, 2020 14:00 - 21 minutes - 20 MB - ★★★★ - 1.6K ratingsCareers Business News Business News strategy innovation leadership entrepreneurship management economics finance communication teams hbr Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession is not the time to panic and slash prices. He says leaders should instead reevaluate their price strategy — or develop one for the first time — to better respond to customers during the slump and keep them when the economy recovers. He shares examples of companies across a variety of industries that have created effective price strategies as well as his advice for changing prices in response to Covid-19. Mohammed is the author of “The 1% Windfall: How Successful Companies Use Price to Profit and Grow.”