Pricing College Podcast
120 episodes - English - Latest episode: about 1 year ago -Get a free education when you attend Pricing College. Learn everything about pricing, value management, revenue management and how to build a pricing career. Join Joanna Wells and Aidan Campbell for entertaining and informative discussion every week.
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Episodes
Episode #0069 - What we really like about the Apple pricing model
November 06, 2020 03:48 - 13 minutes - 11.6 MBApple is one of the biggest companies in the world. In this episode of Pricing college - we discuss what we really like about their pricing model. We cover value based pricing, the ecosystem and customer loyalty and also barriers to competition. In today's episode, we want to talk about aspects of the pricing strategy utilised by Apple that we like or think are noteworthy. Apple’s a great case example for pricing and product innovation. Customers love it. It's very success...
Episode #0068 - Are there any good pricing courses in universities?
November 04, 2020 04:49 - 7 minutes - 6.35 MBIn this episode of Pricing College - we discuss whether there are any good courses at schools, college or universities that really cover pricing strategy in a useful way. Many courses are as subsectors of marketing - but are there any courses we would recommend? In today’s episode, we want to discuss, Is there are Pricing courses at a university that we would recommend? Okay, I suppose to make it simple I would say no not really. They are lacking when it comes to strategic pric...
Episode #0067 - What is the pricing "eureka" moment?
November 03, 2020 06:38 - 8 minutes - 7.11 MBIn this episode of Pricing College - Aidan and Joanna discuss what a lightbulb or eureka moment is in pricing. This is when you actually realise what pricing is and can be - and that it is so much more than cost plus in a spreadsheet. In today's podcast, we want to talk about the lightbulb moment. The light bulb moment is the minute when people realise all of a sudden seemingly, what pricing is? I’ll be honest there is a before and after when it comes to pricing. In the world of pric...
Episode #0066 - You need the right numbers for pricing!
October 29, 2020 16:00 - 10 minutes - 9.43 MBIn this episode Aidan and Joanna discuss why business intelligence and good data management systems are vital for pricing. If you can not measure, analyse and slice and dice numbers - it will almost be impossible to perform worthwhile pricing work and optimisations. In today's episode, we want to talk about something that is often, I supposed overlooked and certainly at the beginning of a pricing project. But it is one of probably the more laborious tasks that you need to build i...
Episode #0065 - Why charging by postcode or zip code can be a bad idea!
October 28, 2020 01:10 - 9 minutes - 8.47 MBIn this episode of Pricing College we ask why charging customers more or less based on their location - i.e. postcode or zip code may seem like a good idea - but may create many more issues than benefits. In pricing - it is vital to not annoy or alienate customers or potential customers - and of course - no one wants to feel discriminated against. In today's episode, we want to talk about a pricing approach or concept that on initial inspection can seem a really good idea. But so...
Episode #0064 - What approaches can we learn from SAAS?
October 27, 2020 04:14 - 6 minutes - 6.19 MBMore and more services for business and consumers are delivered as SAAS - Software As A Service. What common tricks and approaches in pricing can we see from these companies? In today's episode, we want to cover one of the new more modern approaches to pricing that you'll see more and more. And that is the pricing approach used by SAAS companies or software as a service. You will commonly use their services in a B2B environment or many other scenarios. So in this episode, we wanted t...
Episode #0063 - How much should a CEO know about pricing?
October 23, 2020 08:08 - 9 minutes - 14.1 MBAs they say - a fish rots from the head down - and if a CEO is not on board with a pricing project it is doomed to failure. What should a CEO know about pricing - and we do not suggest they should get into the detail with pricing sheets! In today's episode we want to ask the question, What should a CEO know about pricing? I'll preface this by saying, obviously in a big company CEOs have one of the toughest jobs. One of the best-remunerated jobs but also one of the toughest. But t...
Episode #0062 - Can you start optimising prices immediately?
October 22, 2020 00:19 - 9 minutes - 13.9 MBWhen it comes to pricing - we know that people want great results from day 1. However - what do you need to do first before trying to optimise prices. Should you optimise - before you fix issues and build a strategy? Often in life, people want to jump right into the deep end we cover this in a few previous episodes. But often people want to know, sometimes you can talk to a business. And they want you to start optimising prices immediately. And you say well, what sort of processe...
Episode #0061 - What should a marketer know about pricing?
October 21, 2020 07:59 - 8 minutes - 13.3 MBIn this episode of Pricing College - we discuss what a marketer should know about pricing. Fundamentally, we believe they should be willing and able to work effectively with pricing. To be honest - this happens too infrequently. In many of our previous episodes, we have spoken about why pricing or good pricer need to work with other functions, whether finance, sales and very commonly marketing. So in today's episode, we want to discuss, what does a good marketer be? what do they ne...
Episode #0060 - Are you really doing revenue management?
October 15, 2020 01:56 - 7 minutes - 6.22 MBMany companies in 2020 say they practise revenue management but do they really? We ask are many of them really doing traditional pricing management and strategy? In today's episode, we want to ask, do companies sometimes believe they're doing revenue management? When in actual fact, they're not really. They’re just pursuing pricing or contracting or tendering. There seems to be a movement occurring in the pricing community. Whereby if you say you're in revenue management as op...
Episode #0059 - Can an airline really sell a ticket for $1?
October 13, 2020 06:09 - 8 minutes - 7.66 MBIn this episode of Pricing College - we continue to look at revenue management. You may have heard that airlines can sometimes sell tickets at very low prices - and that it makes sense. We look into this practise here. In today's episode, we want to dig into a very common question about revenue management is the classic idea is, can you really sell the last seat on an aeroplane for $1 and be profitable? This is the concept where you come running up to the flights about to leave the...
Episode #0058 - Do you need complex IT systems for revenue management?
October 12, 2020 06:28 - 9 minutes - 7.69 MBIn this episode of pricing college - we take a look at revenue management and ask if your business really requires a complex IT system to implement revenue management. Many companies are not at the pricing maturity to fully take advantage of a system of this nature. In today's episode we want to ask, do you need to use complex computer programs and systems in a revenue management department? The question here arises because more and more we're seeing programs. A multimillion-doll...
Episode #0057 - How many people really work in pricing?
October 01, 2020 17:00 - 14 minutes - 12.4 MBWe know that our listeners are interested in pricing, revenue management and boosting profits - but how many people really work as dedicated pricing professionals in Australia. The answer is not very many at all. Aidan and Joanna try to estimate the actual number. In the last few months, we've all been experiencing quite a lot of change with COVID, the whole crisis and the government's response to it. One of those has been the serious economic challenges that we're all dealing with...
Episode #0056 - Oscar Wilde in the pricing department!
September 29, 2020 04:50 - 10 minutes - 8.97 MBIn Lady Windemere’s Fan, Oscar Wilde had Lord Darlington quip that a cynic was ‘a man who knows the price of everything and the value of nothing.‘ As with so much of what Wilde wrote or said, it’s more than just a nice turn of phrase – it hits at the heart of the problems of society. Lady Windemere’s Fan was written in 1892, but what Wilde wrote is even more true now than it was 122 years ago. We discuss what it means in pricing - and is it overused and cliched - or does it offer anything va...
Episode #0055 - Why we do not talk about bubbles on Pricing College
September 29, 2020 04:37 - 9 minutes - 7.84 MBIn this episode of Pricing College - we discuss what a bubble is and why we do not really discuss speculation, investment or pricing options or financial instruments. Often what is described as a bubble is not a bubble - but rational demand driven prices for a hot item or service. Today we're gonna talk about a slightly different economic topic on like bubbles. But bubbles in housing, bubbles in IT, all those sorts of things. And we're gonna just talk a little bit about kind of why they're ...
Episode #0054 - Can "own brands" - destroy your real brand?
September 24, 2020 17:00 - 14 minutes - 12.1 MBIn this episode of Pricing College - we cover the trend for many manufacturers of food products to produce very similar unlabelled or supermarket own brands. We discuss how this can be a problem for your business in the longer term. In today's episode, we are going to look at “own brands”. And how own brand in the world of food fast-moving consumer goods, those sort of items. How can damage the actual brand? Thinking about how it all started with its own brands. It came about thro...
Episode #0053 - Can too many brands damage your business?
September 23, 2020 05:56 - 10 minutes - 8.91 MBWhen companies buy lots of brands - they sometimes have real issues integrating them and differentiating their offers. This can create real pricing issues - by dragging pricing down to the lowest rung. We discuss this issue today. In this podcast, we want to follow up on our last episode about segmentation and branding. And ask the question, what problems can arise when a company has too many brands or too many legacy brands? We were talking before about how businesses now thro...
Episode #0052 - How brands can help with pricing segmentation
September 23, 2020 05:51 - 8 minutes - 7.61 MBIn today's episode of Pricing College - we discuss how brands can help a business segment their customer base by value drivers and ability to pay. We look at brands in the hotel industry and also in the car industry. In today's episode, we want to cover how different brands can help you segment your market. Have you ever thought maybe that you've got some brands that I'm thinking now of like hotel brands? And how they can help position a business in the market. But they also can he...
Episode #0051 - Would you pay more for fewer movies to watch?
September 17, 2020 17:30 - 11 minutes - 10.4 MBIn this podcast episode of Pricing College - we ask would you actually pay more for fewer movie options on your streaming service - or would even paying a nominal fee let you enjoy the movie more? We've been talking a lot about movies, the movie industry. The differences in pricing between Netflix and potentially Foxtel and also cinemas. We're thinking greatly about how pricing now determines a lot about the way we consume movies. Netflix is a great example of our new habits as movie w...
Episode #0050 - What is the pricing strategy of Netflix
September 15, 2020 17:30 - 11 minutes - 10.2 MBIn this episode - we discuss whether the business model and pricing strategy of Netflix will let it prosper in the long term. We look at the penetration pricing strategy currently in use - and ask if it is best for the long haul? So we were talking a bit before about the cinema and movie industry. And it sort of made us think about the prevalent, the dominant player in the market now Netflix. The value offers to the consumers and we're thinking, What value does it offer? Is it sustainabl...
Episode #0049 - What movies can teach us about willingness to pay!
September 15, 2020 02:26 - 11 minutes - 10.4 MBIn this episode of Pricing College - we discuss how Hollywood studios used to discriminate based on willingness to pay and use different distributions methods such as cinema release, video stores, pay tv and finally free to air tv. This has of course changed due to technology - but is the new system any better? In today's episode, we want to talk about movies. I think everyone's probably sick of staying at home and watching movies over the last six months. But it's made us think about th...
Episode #0048 - You ever meet someone who just has to have a discount?
September 10, 2020 17:00 - 10 minutes - 9.65 MBIn this episode of Pricing College - we talk about what to do when someone just has to have a discount. We love not discounting - but sometimes you have to recognise that their are dedicates hagglers out there - the type who enjoys getting 1% off on shopping at the local market. You know the type! In today's episode we want to cover, what do you do when you're selling to somebody, a person who just insists on getting a discount? Who will not sign on the dotted line if they are not ...
Episode #0047 - Are there better numbers than 99c?
September 08, 2020 17:00 - 8 minutes - 7.75 MBIn this episode of Pricing College - we ask are there new magic numbers out there and if so - what are they? Are people so used to 99c that it has stopped working? Is 37 the new 99? So many questions! In today's episode, we want to ask, is the price of 99 cents and magic pricing is that all hot? Has it expired? Has as it passed? Has it been used by date? Is the world of pricing when you're doing a pricing optimisation, does it simply mean adding 99 cents down the list of all your S...
Episode #0046 - Why do people use 99c and magic number pricing?
September 07, 2020 07:02 - 9 minutes - 8 MBIn this episode of Pricing College - we look at the concept of magic numbers and using 99c and even options like 95c or 90c. Does it really help you sell more than quoting full dollar pricing. Is the market moving beyond this type of pricing nowadays? In today's episode, we're going to cover that most fundamental or maybe most famous pricing technique or strategy. The magic number such as 99 cents 90 cents or something like that. For pricers out there this is an important topic f...
Episode #0045 - What does Coke branding aim to achieve?
September 03, 2020 16:30 - 11 minutes - 10.3 MBIn this episode of Pricing College we look at the importance of branding for retail products - and we look at Coca Cola. Everyone in the world knows Coca Cola and sees it everywhere we go. Does the huge spend on branding produce a customer view on the brand as a premium product? We argue that the branding positions it strongly as a middle and mass market product. As we say in the world of podcasting and busses you wait for one bus on three come at once. So today we're doing a thir...
Episode #0044 - Why Coke kept flat pricing for 75 years!
September 01, 2020 16:30 - 9 minutes - 8.72 MBIn this episode of Pricing College - we discuss why Coca Cola did not increase their pricing for almost 75 years. This goes against the common perception of Coke as a business with great pricing power - that can command higher prices. We dig into the reasons behind this surprising fact. In the last podcast, we discussed an interesting case study with Coke and we just wanted to extend that a case study with Coca Cola. Because it's a company that when you think about, it's a huge glo...
Episode #0043 - Paying more for soft drinks in hot weather
September 01, 2020 04:00 - 7 minutes - 6.8 MBIn this episode of Pricing College - we discuss the suggestion that Coca Cola considered altering prices depending on the temperature. We discuss whether this approach would work for a business and what things should be considered. We also ask would there be negatives to business reputation. Today we're gonna talk about quite an unusual case study involving Coca Cola. And apparent allegations of Coca Cola increasing prices when the weather gets hot. So at the moment today in Sydn...
Episode #0042 - Why planning a pricing role is vital!
August 27, 2020 17:00 - 12 minutes - 11.3 MBIn this episode of Pricing College - we discuss why it is so vital to really plan out a pricing role before starting the hiring process. Being honest - so many pricing hires fail to deliver on their promise - and this can usually be prevented by scoping and planning in advance. In today's episode, we want to cover a topic that sometimes people don't consider before making their first pricing hire. That often is when a company employs the first person in a pricing department or ki...
Episode #0041 - Problems with a pricing team of One!
August 24, 2020 02:24 - 12 minutes - 10.8 MBIn this episode of Pricing College - we discuss the potential problems when you only have one person in a pricing team. One person may be able to do it all for a short space of time - or in a small business but overtime problems will arise. Number crunching and strategy are different skills - and people can get burned out doing too many tasks. In today's episode, we want to play a thought experiment. You've just made the decision as a company to employ your first pricing pr...
Episode #0040 - How many pricing analysts do you really need?
August 24, 2020 02:17 - 7 minutes - 6.5 MBIn this episode of Pricing College - we ask how many pricing analysts your business really needs. When launching a pricing transformation or improvement project - obviously, many businesses seek to keep costs low at the beginning - but if you under resource a team - that can have real issues also. Today we're going to be talking about what is the ideal size for a pricing team. We get asked this question a lot, especially when companies are building their new pricing function. It’...
Episode #0039 - Can your business say no to tenders?
August 20, 2020 17:00 - 12 minutes - 10.6 MBIn this episode of Pricing College - we ask a big question. Can you business simply say no to tenders? Do you have to take part in tenders - or can you simply say no? Does your business really want to take part in tenders as the normal option - or is there another way? We've been talking in the past few episodes about tenders. And generally speaking, I think you can get the picture here that tenders, can be quite a negative and painful process. So we did touch on the idea of, what ...
Episode #0038 - Your tender team should try to avoid tenders
August 18, 2020 17:00 - 12 minutes - 11 MBIn this episode of Pricing College - Aidan and Joanna discuss why you should seek to avoid tenders whenever possible. Your key account team and sales team should focus on preventing existing clients on going to tender - and work with potential clients to discuss value in a more productive manner than tenders. In the last episode, it's been pointed out to me that I sound very negative. So in this episode that regarding tenders and why I dislike them will say. And so in this episode is...
Episode #0037 - Why tenders destroy value - and your will to live!
August 17, 2020 02:14 - 11 minutes - 10.3 MBIn this episode of Pricing College Aidan and Joanna talk about tenders - and why they often destroy value, and any interest you may have in working with a company. Tenders have lots of clear flaws - and whether they get the best price or the best supplier is far from certain. What's the number one thing that you love about pricing, perhaps that you don't like so much about pricing? When I asked this question people generally tell me the negative, and B2B, guess what it is? Tender pri...
Episode #0036 - Is competitor based pricing sensible?
August 13, 2020 17:00 - 12 minutes - 11 MBIt of courses seems to make sense - that you should check on what your competitors are charging - and base your pricing somehow on that metric. However - can there be drawbacks in this approach and if so what may they be? Just because someone is a competitor - does it mean you should charge the same. Should a convenient late night corner store - price match against an out of town hyper market? Today, I want to talk about a different form of pricing. We talked about value pricing be...
Episode #0035 - Would you pay more for less of a product?
August 11, 2020 17:00 - 12 minutes - 10.8 MBWe are always used to thinking that the more you pay the more you get of a product or service. However - have you ever been in a supermarket and found that a 660 ml bottle of cola costs more than a 2 litre bottle - why could that be? We discuss pack sizes and value based pricing - and what may be driving this seeming error. Okay so we've talked before about how products are actually getting smaller and yet the price is roughly the same if not increasing for a smaller product, that's sh...
Episode #0034 - Why your food package is getting smaller!
August 10, 2020 01:46 - 9 minutes - 8.53 MBIn today's episode we look at the practise by food product companies to reduce pack size - sometimes without the customer noticing - rather than increase the price. Have you noticed that some items - like cereals etc or the number of bags of chips in a multipack is getting smaller or fewer? What would you say if your pint of milk (or beer!) gets slightly smaller every year - but the price tag stays the same? This is called shrinkflation Have you ever thought about pack sizes gett...
Episode #0033 - How do pricing software tools work for business?
August 06, 2020 10:31 - 10 minutes - 9.27 MBIn this episode of Pricing College - we discuss how pricing software tools work for a business - and what they actually do. They can be very useful tools with huge forecasting and calculation ability when they are correctly configured. Obviously - the devil is in the detail as they say - and these tools generally are not the immediate answer to all pricing queries. Today we're going to talk about pricing systems and what they do. The reason I suppose we're going to talk about that ...
Episode #0032 - Do price match guarantees increase or decrease selling prices?
August 04, 2020 02:23 - 8 minutes - 7.43 MBIn this episode of Pricing College - we discuss the concept of price match guarantees. On first inspection - you would think a price match guarantee will reduce prices - as you match a competitors price. In reality - there is evidence that they have the opposite effect - as the stop people shopping around due to a false sense of confidence. It can also be a useful segmentation strategy. Today we're going to talk about whether price match guarantees decrease prices. Now, we're tal...
Episode #0031 - What is a loss leader?
August 03, 2020 01:34 - 7 minutes - 6.27 MBIn this episode of Pricing College we discuss the concept of a loss leader. You may be aware of supermarkets and similar businesses selling very common or staple items at very low - or even loss making prices. We discuss the rationale or this and what they may be hoping to achieve. We also ask whether it is something that non retail businesses can use. So today we're gonna talk about a concept that everybody knows and it's called a loss leader. So we're going to be talking about,...
Episode #0029 - What are the options for a business pricing transformation?
July 28, 2020 05:04 - 4 minutes - 4.16 MBIn today's episode of Pricing College - we discuss the broad options available to a company who is considering a pricing transformation for their business. The broad options available to any company generally include: A - engage pricing consultants to advise your business B - employ a proven pricing manager to implement change internally C - utilise a pricing software system And the winner is......... Today we're going to talk about options for you if you're going through a p...
Episode #0028 - The biggest frustrations in the pricing community!
July 27, 2020 05:41 - 7 minutes - 6.77 MBIn this episode of Pricing College we discuss some of the biggest frustrations in the pricing community. Whether it is people expecting far too much too soon, or people simply not listening at all to advice - we discuss some of the annoying parts of the job. In today's episode, we want to talk about those frustrating things about being a Pricer or Pricing Manager and the things that annoy you. I suppose is a bit of catharsis, is that the correct pronunciation for all of us or somethi...
Episode #0030 - The skills for a great pricing manager!
July 23, 2020 17:00 - 5 minutes - 5.2 MBIn this episode of Pricing College Joanna and Aidan discuss what sort of skillset a great pricing manager or leader should have. Whilst not saying one needs to have all the skills mentioned - pricing is a very varied discipline. Numerate, driven, smart, good team worker - the list goes on! Now if you're thinking about a career in pricing and you're wondering what type of people go into pricing, Am I suitable? Would it be a good fit for me? We're going to just go through all of tho...
Episode #0027 - Can pricing save a bad business model?
July 23, 2020 02:31 - 11 minutes - 9.72 MBIn this episode of Pricing College - Aidan and Joanna discuss whether a pricing guru and a great pricing strategy can rescue a bad or outdated business model. We discuss the examples of Blockbuster Video, Virgin Megastores and music retailer HMV. We state that pricing generally can not rescue a bad business model - but can help a value based business pivot early enough to survive and prosper. Today's topic was suggested to me by something I was doing during the lockdown, we were watchi...
Episode #0026 - What is price elasticity?
July 21, 2020 17:30 - 8 minutes - 7.72 MBIn this episode of Pricing College - we go back to University for Economics 101. If you increase prices - how much will volume fall? Is that something we should know or care about? Is there anything we can do to influence elasticity - or is it a given? Why does the Tax man care about elasticity - or in-elasticity? Today we're going to talk about a very popular concept in pricing called price elasticity. Now price elasticity has an important role in pricing because it's a measuremen...
Episode #0025 - What is loss aversion in pricing?
July 21, 2020 02:04 - 6 minutes - 5.71 MBIn this episode - we look at the concept of loss aversion. It is an old saying in gambling - that money lost hurts twice as much as the pleasure of money won! This same concept should apply in your sales meetings and sales discussions. If your product is more reliable and less risky than alternatives - then you should definitely be discussing that - and maybe charging more for it? Today we're going to talk about loss aversion and the role of loss aversion in pricing. Now, loss aversion...
Episode #0024 - Can a consumer products business go direct?
July 17, 2020 00:26 - 13 minutes - 11.8 MBIn this episode - we look at whether a smaller consumer products business can say no to major supermarkets and retail chains and go direct. A move like this is a complete business shift and means you need to invest in distribution and shops. However - the upsides can be huge - and profits can follow! Okay so today I'd like to talk about a business model that I respect for many reasons and it's called Haigh’s chocolate, it is a competitor to Lindt and everyone knows Lindt may have heard...
Episode #0023 - What can we learn from restaurant menu pricing?
July 15, 2020 01:12 - 10 minutes - 9.19 MBIn this episode of Pricing College we celebrate getting back to restaurants and what tricks of the trade you can notice in restaurant menus. Whether it is priced at $4.99 or just 5 without a dollar sign - the menu may be trying to manipulate you. At least you have a defence now for eating too much at lunch! Today we're going to talk about tips and tricks about menu pricing. Now when you go into a restaurant or when you look at a menu often you don't realise as a customer that there are...
Episode #0022 - What is good better best pricing?
July 14, 2020 02:36 - 9 minutes - 8.43 MBIn this episode of Pricing College - we discuss the segmentation strategy known as good, better, best. It is a simplified strategy that helps companies begin a sensible customer segmentation strategy. We discuss products and services such as whiskey and SAAS providers. Today we're going to talk about a price segmentation concept called good, better, best. The reason we're going to talk about that today is that often people use fixed pricing, one fixed price for their customers, and bec...
Episode #0021 - Why do some startups not worry about big losses?
July 10, 2020 03:55 - 9 minutes - 9.13 MBIn this episode of Pricing College - Joanna asks whether making a loss is a viable pricing strategy for any business - and of course startups. Many famous startups from Uber to Amazon have made losses for many years in a row. We look at the Australian business Canva - and ask if the pricing strategy makes sense. Is loss making an extreme form of penetration pricing or is something else at play? So many of the world's most valuable startups have never been profitable. So today, we're goi...
Episode #0020 - How should you incentivise a sales team?
July 08, 2020 03:55 - 9 minutes - 8.54 MBIn this episode of Pricing College - Aidan and Joanna discuss common ways to incentivise a sales team and why this can create issues if not not in a strategic way. Is your sales team incentivised to sell volume - or with pricing targets or metrics. Does your sales team understand and articulate value? What can go wrong with a shoddy incentivisation plan? Today we're going to talk about sales, incentives, and plans. I suppose the reason why we're going to talk about that is there's a bi...