Pricing College Podcast

Episode #0119 - What is Value Culture?

Today's episode is a bit like Part B or a follow-up from our last episode a couple of weeks ago, where we introduced our new project, which we're calling Value Culture.   TIME-STAMPED NOTES: [00:00] Introduction [03:05] Why do not all companies have specialised pricing experts or teams? [4:35] What can Value Culture do? [10:19] What can clients benefit from Value Culture? [11:17] The Ultimate Objective And The Essence Of Value Culture   What is Value Culture?   Aidan: H...

Episode #0118 - Why Pricing Requires CEO And CSuite Backing

Why Pricing Requires CEO and Csuite Backing   Aidan: In today’s episode, we want to dig a bit deeper into a topic we’ve covered a couple of times in previous episodes. And that it’s vital, it’s so important that a pricing transformation or a major pricing project has CEO, C-suite backing.   And I suppose today we’re going to dig into that. We’re gonna do a bit of a question-and-answer format. Cause it works quite well. So we’ll be asking our resident pricing expert, Joanna, these que...

Episode #0117 - What is different in B2B pricing?

Episode #0116 - Q&A On What Optimising The Tail Means

Episode #0115 - Discounting And Price Promotions In Retail Or B2C

Episode #0114 - Who do we think listens to our podcast

Episode #0113 - Pricing advice for start-ups

In today’s episode, we want to explore the world of startups and I supposed at Taylor Wells we got asked or approach by quite a few startup businesses and the early stages of development with questions about pricing advice and pricing strategy and how start-ups should price. And I suppose we just really want to explore some of those ideas today and maybe just discuss some ideas. TIME-STAMPED NOTES: [00:00] Introduction [03:00] What’s our advice on issues regarding pricing for start-ups...

Episode #0112 - Can pricing save the cinema and movie theatre industry

[00:00:00] Aidan: Hello and welcome to another edition of Pricing College with your host Aidan Campbell  [00:00:06] Joanna: and Joanna Wells  [00:00:07] Aidan: Often at Pricing College, we find new ways to show that we live in the past. And so today we are going to talk about cinemas, cinema pricing, and I predict somebody will say movies are not as good as they were in the old days. [00:00:21] So I'll let Joanna kick-off .  [00:00:24] Joanna: I think we we're talking about cinema pr...

Episode #0111 - What can business learn from gym pricing?

In today’s episode, we are going to cover something that’s very close to our heart. If you just listen to our podcasts, you may think we are just pricing gurus, but we are also incredibly ripped. And so we’re going to cover, gym memberships and gym pricing. A subject that I think a lot of people, both consumers and businesses can learn from. So I think we’ll let Joanna kick-off.  Yeah. But firstly, starting with that, Aidan apparently goes to the gym five times a week. Not so sure. Maybe...

Episode #0110 - What is a (CRO) chief revenue officer and what should they know about pricing ?

#PricingPodcast #PricingCollege #ChiefRevenueOfficer In today's episode, we want to talk about probably a new addition to the C suite, which is called CRO which stands for Chief Revenue Officer. And this is probably a role that we're seeing more in SaaS companies, software as a service, more startups, more tech, probably more in America, I suppose. And it's someone whose focus is on all the revenue in the business, customers, profitability, revenue, selling, marketing, sales. It's a real c...

Episode #0109 - How to charge creative industries like graphic designing

In today's episode, we want to ask a question about some of the creative industries and the best way to charge for graphic design creativity, like designing logos. This is a question that somebody asked us recently, so we want to explore it today.   We asked this question essentially, a question that a lot of people ask us how do we charge for a particular service or our products? Often the debate goes “ Oh, should we use a cost plus, especially for all time and materials billings, espec...

Episode #0108 - Should you charge more for beer at a stadium than a liquor store?

In today's episode, we want to look at a news article that appeared today, 8 September 2022. I think it almost suggests that more people should listen to price in college because I suppose fundamentally it looks at some of the most very basic pricing thoughts or strategies that I think that anyone in business or even the media should know. So, I think I'll just give a brief intro to it. On a radio station, 2GB in Sydney, the presenter Jim Wilson grilled the pub entrepreneur Justin Haimes on ...

Episode #0107 - Paying more to not see ads on streaming services

In today's episode, we want to cover I suppose it's a concept, but it's also a new story that we saw recently this week, whereby Disney plus up-and-coming young whippersnapper on the streaming market that's eating Netflix's. I suppose they haven't announced it, but they're suggesting that they will introduce two-tiered pricing whereby you pay less, maybe about $8 US a month, but you might have to watch advertisements, or you can pay more and avoid advertisements. And I suppose this is a litt...

Episode #0106 - Dynamic pricing in ticket pricing for concerts

In today's episode, we want to talk about the pricing story that has made the news I guess, the mainstream news media, which is not that common in the world of pricing, and that is related to dynamic pricing for concert tickets. More specifically Bruce Springsteen tickets on a US national tour and the concept that pricing for those tickets has a dynamic element.   Dynamic pricing has some controversy around it because people don't like that there is a range of prices and they don't like ...

Episode #0105 - What we can learn from Rolex pricing

Today we're going to speak about Rolex watches. Rolex watches are a key topic. I suppose in pricing because they really do show the opposite of cost-plus pricing. They don't use cost-plus pricing,  very much value base. Because if they did use cost-plus pricing, they would actually make much less profit than they're making today.    But what brought this topic to mind was a recent newspaper article on Rolex watches, in particular secondhand Rolex watches. The bubble for secondhand Rolex ...

Episode #0104 - Are Brands still valuable to consumers in 2022?

In today’s episode, we want to talk about brands. Are brands still as important in 2022 as they were maybe back in the 20th century?  Notes on the time-stamped show:   [00:00] Introduction [02:05] Building a brand is associated with your value management system, and it is a continuous process. [04:28] How is your brand connected to your pricing, value management system, and customers? [08:34] Market preferences change. And you must be willing to adapt and make your brand always r...

Episode #0103 - The Concept of Building a Pricing Ecosystem

So in today's episode, we want to talk about, the concept of building an ecosystem, thinking about how it can benefit your business, and if you can sell it that way.    Notes on the time-stamped show: [00:00] Introduction [01:24] How pricing can be utilised to build new and stickier business models that customers find difficult to leave. [04:53] Business models, such as espresso and Apple, emphasising how they created an ecosystem wherein everything the customers need is offered, boo...

Episode #0102 - Can a pricing IT tool fix B2B pricing

In today’s episode, we discussed what are the pitfalls of seeking a pricing tool to run B2B pricing.   Notes on the time-stamped show:   [00:00] Introduction [01:06] Joanna argues that without a great pricing framework and architecture, businesses cannot expect optimal outcomes from automation. [03:31] The field of pricing have two approaches to technology. The first is revenue management systems, and the second is optimisation systems. [07:13] What processes do you need to set...

Episode #0101 - Is being made in Australia still seen as a value to consumers in manufactured products

In today's episode, we want to do, I suppose a little bit of value discovery, which is a topic we discuss when we get into value-based pricing and what you can charge more for. What is the value-added to your business? Often you hear we are Australian owned, we are Australian based Australian owned and managed. And the question is, is being Australian owned, is being an Australian company of value. And of course, this can be different for whichever country you're listening to. What is being ...

Episode #0100 - What moving from free to paying really means. Difference in freemium vs pay model

Episode #0099 - What to be aware of with surcharging

This is the last episode before the Easter school holidays in Australia. So, pricing college is not out for the summer. It's not out. We continue with our podcasts as we know how vitally important it is for you to get your pricing info. In today's episode, we want to cover the press recently, and anybody involved in B2B and B2C will be looking at surcharges, fuel surcharges, and different surcharges. Basically, covering and trying to protect people from the rampant inflation that we're seein...

Episode #0098 - Why Value-Based Pricing is even more important when inflation is rampant?

  In today's episode, we are going to discuss the importance of value-based pricing during inflation.   In today's episode, we are, I suppose, going to address the big elephant in the room, which is massive cost increases and massive inflation. On a scale, I think people thought we would never see it again. I read this morning that inflation is at a 30 year high. In some countries, it is somewhere between 6% and 12%. That was even before this entire Ukrainian War and petrol prices, fue...

Episode #0097 - SAAS Pricing and Tiered Pricing options for Online Businesses

In today's episode,  we're looking at SAAS pricing and tiered pricing - the good-better-best option.   What is the impact of tiered pricing on market segmentation and consumer behaviour?   In today's episode, we are surfing the web. We are joining the information superhighway. We're looking at, I suppose the very common method that pricing is shown on many software as a service, SaaS style businesses. I think we're all used to seeing them by now. Three options: When some on a month t...

Episode #0096 - Introduction to Value Culture

Today's episode will be probably a little bit different than usual, as we're going to discuss a new project here at Taylor wells, which we are launching. I suppose, to some extent we've already done a soft launch of it with particular customers. That is our project called Value culture. I let Joanna speak in a minute. But I think just a brief intro as to what it is. On our podcast over the last year or two, you probably hear us talking about lots of similar themes. Those themes are pricing s...

Episode #0095 - Can value based pricing go wrong?

In many of our podcasts, we talk about value-based pricing. How it is the best thing since sliced bread and how everybody should be doing it, or moving towards it.   But in today's podcast, we're going to answer a question we received and that is, can value-based pricing go wrong?   So the simple answer here is yes, it can go wrong.  I'll give you some context, some scenarios where I've seen it go very wrong. Often it's done in businesses that are very cost plus. They've got a histor...

Episode #0094 - What white goods price inflation means in 2022

  If you are an avid listener to our regular appointments or regular podcast you may be wondering where we were over the last month or two. The answer is we were too busy with Taylor Wells to record a podcast. So I don't know how you coped without us and all our grid pricing information. So here we are back today. We are covering the typical question that is in the press relating to white goods. The pricing on white goods such as washing machines, fridges, that sort of thing is increasing ap...

Episode #0093 - B2B business moving to an equipment as a service

In today's episode, we are going to answer a listener's query which was about companies traditional B2B businesses switching from selling components or machinery to more of equipment as a service system whereby equipment machines etc, whatever it is, is provided on a monthly or weekly or whatever basis it is almost like a joined-up solution. Sounds interesting.   It does sound interesting and at the same time, the movement from a pure sort of product to equipment as a service model has b...

Episode #0092 - Dangers of surcharges and breaking down pricing too much.

In today's episode, we want to cover. I suppose we just passed Black Friday last week and I believe Cyber Monday was Monday. I'm sure of my age but I was never aware of these concepts when I was younger but now in retail and especially online retail, they are extremely prominent. So today we want to look at the pros and cons, the good things and the bad things about adding surcharges and segmenting or compartmentalising the costs in services, so that when you go online to buy a product or se...

Episode #0091 - What to say when procurement ask to see your cost base

In today's episode, we want to talk about something that is probably more common than we'd like to admit. A scenario where a procurement team says show me your costs, I want to see your cost so we know that you're not charging too much.   So what do you do? Do you show them the costs? or do you in some way fluff around the topic and try and avoid that for a couple of weeks? Maybe get yourselves, people, to meet with them a bit more to discuss the features and benefits of the offer and th...

Episode #0090 - Will shoppers pay a bit more for a better retail experience

In today's episode, Joanna and Aidan discuss retail therapy for the upcoming Christmas season and Black Friday. It’s that time of year where we approach Black Friday, and of course the Christmas shopping season. So in today's podcast, we want to take a bit of retail therapy and ask, Will people in a retail environment be prepared to pay a bit more? Not a huge amount more, but will they pay more for better service and other things?   Well, I’m gonna answer that question right away and I...

Episode #0089 - How inflation impacts price rise strategy in 2021

In today’s episode, Joanna and Aidan discuss the return of inflation and how it impacts the price rise strategy in 2021. Inflation affects businesses and consumer purchasing power In today's episode, we want to cover something that has been in many news articles in one way or another and that is I suppose the return of inflation which was a monster we associated with maybe times like the 1970s in the 1980s but inflation appears to be back. A lot of the financial press is talking about it...

Episode #0088 - Mercedes- Benz Fixed Pricing Model

In this episode of Pricing College -  Joana and Aiden talk about the Mercedes Benz fixed pricing model. What it is and how they’re going to execute this in the Australian Market? Hello and welcome to pricing college with your hosts Aidan Campbell and Joanna Wells. You may have noticed that this is our first podcast in quite a while and you might be asking, why? Fundamentally, the reason is that we were too busy, and we were caught up with work at Taylor Wells. And so now we are back on t...

Episode #0087 - We take a look at pricing and the murky world of cigarettes

In this episode of Pricing College - we take a look at the world of cigarettes and ask what the Marlboro man can tell us about marketing now he is basically banned.   We look at the tax collection role cigarette companies now play.   In today's episode, we're going to salute that time-honoured Aussie tradition of having a cigarette break. I think it's called a “Dury” or “Dora”? or maybe I'm exposing myself as not Aussie enough, but you know what we're talking about. We thought it'd...

Episode #0086 - Will subsidies boost demand for domestic tourism?

In this episode of Pricing College - we discuss the new Aussie Federal Government plan to boost domestic tourism by subsidising flights by 50%.   We discuss is price the major driver of tourism nowadays in a post Covid world - or is it the rationale expectation that your vacation will be ruined by State Governments locking down cities and closing borders willy nilly.   We're recording this podcast a day after the Australian Federal Government announced a 50% subsidy for holiday fligh...

Episode #0085 - What does a cashless society mean for pricing?

In this episode of Pricing College - we discuss what impact a cashless society will have on pricing. Will it mean less focus on budgets and costs, will people spend more or less - and what businesses and industries stand to benefit.   In today's episode, we want to discuss the movement to a cashless society. What that will mean for business, for consumers, for value and all things pricing related.   There's definitely a trend for using less cash nowadays. People seem to prefer just...

Episode #0084 - Why do so many companies ignore value based pricing?

In this episode of Pricing College  - we discuss why so many companies do not practise or invest in value based pricing.   We discuss that value based pricing is difficult but very rewarding - and explain that many companies are not developed enough to truly pursue this systematic approach. In today's episode, we want to ask the question, why do some businesses push back on value-based pricing? Or why are they not seemingly interested in value-based pricing?   It seems strange tha...

Episode #0083 - The future of the recorded music industry

In this episode of Pricing College - we look at the recorded music industry and the pricing model.   We discuss Spotify and what a lack of live concerts is doing to revenues in the Covid restrictions era.   What can bands and artists do?   This episode is about recorded music. The business and pricing model in the recorded music industry. Interestingly, we've actually had a lot of problems with our zone this morning. So this is the second tick at this episode. We could do with pr...

Episode #0082 - Cruise pricing strategy in 2021

In the first episode of 2021 - we discuss cruise ship promotions in early 2021.   Clearly given the continuing restrictions on everyday life in 2021 -whether you will ever sail on that cruise is doubtful - and if you do - will it be the way you remember?   Aidan and Joanna discuss promotions, overbooking, revenue management and if people are just buying a bit of sunshine!

Episode #0081 - What has pricing to do with house prices?

In this episode of Pricing College we stray into an area we do not look at - asset pricing.   House prices are one thing most people have a view on.   We discuss how changing interest rates - really reflect lifetime cost of ownership and payment terms - and what value based pricing can tell us about it.     If there's one thing people love discussing in this era, it is house prices, houses, more houses your house, my house, how many houses do you have? And housing bubbles, hous...

Episode #0080 - Is the one who pays the boss?

In this episode of Pricing College - Aidan and Joanna discuss the common psychological scenario - where the seller says thank you - and sometimes in a B2B environment - the procurement team almost seek to grandstand over the seller.    Does the seller view the customer as a boss? Is there a power dynamic at play here? What can we learn from a pricing perspective?   TIME-STAMPED SHOW NOTES   [00:00] Introduction [01:09] Joanna discusses the handover of power between the seller and the...

Episode #0079 - Can Unbundling Go To Far?

In this episode of Pricing College we ask has unbundling gone too far.   We discuss the travel and hotel industry - and give the example of Ryanair.   Unbundling can be a great strategy for segmentation - but sometimes we just want the full service!     The more things change the more they stay the same is an old saying. So today we really want to look into it. Whether the recent trends in many areas of business particularly things like hotels, etc. Whereby it used to be all yo...

Episode #0078 - We discuss supermarket promotions

In this episode of Pricing College - we discuss how supermarket promotions work - and what suppliers need to know. Is your brand benefitting or being impacted by a promotion from the supermarket? How do promotions impact volume and sales and of course profit?   In today's episode, we want to talk about supermarkets. They are probably one of the most powerful actors and agents in the commercial environment. That a lot of companies, a lot of pricers will be dealing with on a regular ba...

Episode #0077 - Does centralising pricing in another country make sense?

In this episode of Pricing College we discuss whether it makes sense to centralise pricing functions for large companies.   In recent years - we have seen multinationals seek to centralise pricing in certain cities - i.e. a centre of excellence - and have even see pricing for entire continents being centralised.   This can have pros - and also lots of cons.   In today's episode, we want to talk about probably a trend we've seen in recent months and years where larger corporations...

Episode #0076 - How much do pricing professionals get paid?

In this episode of Pricing College - we discuss how much pricing professionals from analysts to pricing directors get paid.   Will it make you jealous, proud or whet your appetite for a promotion?   It's a question that I'm often asked you know, How much should we spend on pricing analysts or a pricing manager? Often clients would consider pricing to be a lower salary than it is. So I often have to have the discussion that to get somebody good you've got to pay the money. Sometimes p...

Episode #0075 - What should you say about pricing to different stakeholders?

In this Episode of Pricing College - we talk about talking! What should you say and how should you describe pricing when talking to various stakeholders like sales, marketing, finance etc - or even the CEO.   The reality is that not everyone gets pricing the way you do - so you need to have a strategy to gain buy in.   In today’s episode, we want to talk about discussing pricing with various stakeholders. Obviously, we discuss how dealing with stakeholders and bank engagement or gett...

Episode #0074 - Intro to price optimisation

In this episode of pricing college - we discuss what pricing optimisation is and where to start.   This is different to pricing strategy - and is a more numeric, data driven topic requiring specialist skill sets.   We run through the basics   In today's episode, we want to give a brief introduction to one of the more technical but useful pricing techniques which are pricing optimisation. So Joanna, what is pricing optimisation?   I think in its most simple form price optimisa...

Episode #0073 - What the forex market can teach us about cost plus pricing?

In this episode we discuss the forex market and how that really highlights common issues with cost plus pricing.   The foreign exchange market - forex - changes millions of times a day, every day - and is a major cost input to lots of businesses.   If a cost reduces - should you reduce the sell price? Go on guess!   In today's episode, we want to give an example of why cost-plus pricing can create problems. This is relating to the world of foreign exchange or Forex. It highlight...

Episode #0072 - What makes a great CFO when it comes to pricing?

Many CFOs love the numbers - and that often includes pricing. We have seen CFOs sign off on all pricing decisions in a business - but is that sustainable. Would a smart CFO run sales or marketing - usually not! We ask should a smart CFO run pricing?   In the previous episode, we have spoken about what a CEO should know about pricing. In this episode, we're going to discuss, what a CFO, the Chief Financial Officer in the business should know about pricing? And to some extent, what the...

Episode #0071 - What is the major issue with siloed business structures?

We have seen it - and I am sure you have seen it. Businesses run on bizarre structures - based on States, regions or anything else. What could possibly go wrong - well to be honest, lots! When sales work regionally - and marketing and pricing work nationally - we predict lots of problems.   In today's episode, we want to dig a bit deeper into what we discussed in the last episode about companies driven by operations. I suppose one of the real signals we often see when we look at a co...

Episode #0070 - What happens when Operations drive pricing?

If you have ever seen Field Of Dreams with Kevin Costner - you will know the saying - build it and they will come. This often seems to be the approach of many companies - where they build a product and then simply expect sales and marketing to sell it as is. What could possibly go wrong? Lots.     In today's episode, we want to discuss that very common type of business where how the businesses run is almost upside down or reverse. So rather than in the episode, we covered with Ap...