Pricing Strategy and Tactics (Double Your Price)

D.A.M. Falzani
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A 10-part podcast discussing Pricing Strategy and Tactics, taken from Double Your Price - Winner of The Sales & Marketing Book 2024, Business Book Awards. ⁠https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/⁠ ⁠ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ The audio is provided by NotebookLM AI.

Episodes

  1. Pricing Strategies and Psychology

    12/13/2024

    Pricing Strategies and Psychology

    How does pricing psychology impact business decisions and consumer choices? What are the key shifts in pricing strategies and their underlying drivers? How can businesses effectively leverage value-based pricing and emotional appeal?

    33 min

  2. 11/16/2024

    On the road to success (Double Your Price: Part 10)

    This final excerpt from the book Double Your Price by David Falzani provides a comprehensive guide to understanding and effectively utilising pricing as a tool for business growth. The book challenges the traditional notion of cost-plus pricing, arguing that focusing on customer value and actively managing price is crucial for businesses of all sizes, particularly innovative and high-growth companies. The author explores various pricing strategies, including value-based pricing and emotional value, highlighting the importance of market experiments and customer-centric thinking. Falzani also investigates cognitive biases in pricing decisions and provides practical advice on how to overcome common under-pricing errors, offering specific strategies for price increases and continuous value management. The book concludes by emphasising the need for proactive pricing analysis and a focus on achieving a sustainable competitive advantage through intelligent pricing practices. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    29 min

  3. 11/16/2024

    Other strategies companies use for price increases (Double Your Price: Part 9)

    This book excerpt focuses on the importance of pricing in achieving business success and growth. It argues that underpricing is a common business error, and that companies should actively manage their pricing decisions, not just react to pressure. The book explores various strategies companies use to increase their prices, both overtly (like simply raising prices) and covertly (such as bundling products or introducing emotional value). It also highlights the importance of understanding customer psychology and using cognitive biases to your advantage when setting prices. The author encourages readers to consider how these pricing strategies can be applied to their own businesses to achieve higher profitability and long-term success. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    15 min

  4. 11/16/2024

    Understanding cognitive bias and behaviour (Double Your Price: Part 8)

    This extract, from a book about pricing strategy, explores the concept of cognitive bias and how it affects consumer behaviour. The author discusses various biases, such as priming, decreasing sensitivity, loss aversion, source, and anchoring bias. He argues that these biases can lead to irrational decision-making, which companies sometimes leverage to influence customer choices and increase prices. The author also offers practical advice on how to identify and mitigate these biases in one's own organisation, ultimately advocating for more rational decision-making. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    18 min

  5. 11/16/2024

    Unlocking Growth. The Internal Rate of Return. What happens if you double your price (Double Your Price: Part 7)

    This book excerpt focuses on the importance of pricing for business growth. It argues that under-pricing is a common mistake, and that pricing experiments, even without significant changes to products, can lead to higher profitability and greater reinvestment. The author outlines strategies for pricing, including market testing, creating parallel products, and understanding customer decision-making landscapes. He suggests that customer value, rather than simply 'value for money,' should be the central focus when pricing. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    23 min

  6. 11/16/2024

    Challenging your price assumptions (Double Your Price: Part 6)

    This extract from prize winning "Double Your Price" by David Falzani examines the power of price as a signal of value. The author challenges common assumptions about pricing, arguing that consumers are not purely rational decision-makers and often associate higher prices with better quality. Falzani explores the role of emotional value in purchasing decisions, highlighting how branding and marketing influence perceptions. He also provides examples of companies that have successfully used premium pricing strategies to achieve significant growth. The text encourages businesses to challenge their pricing assumptions, conduct market experiments, and develop strategies that leverage emotional value to unlock growth potential. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    13 min

  7. 11/16/2024

    Price should almost never be ‘cost-plus’ (Double Your Price: Part 5)

    This extract from the prize winning book "Double Your Price" examines the drawbacks of using cost-plus pricing and advocates for value-based pricing strategies. It argues that cost-plus pricing ignores customer value and competitors, leading to potentially underpriced products. Instead, the author stresses the importance of understanding customer value and setting prices based on the benefits they receive. The book explores various pricing methods, including competitor-based pricing, and provides examples of how to build emotional value into products to increase their perceived worth. The author also discusses techniques used by companies to avoid price competition and strategies to identify and manage unprofitable customers. The text emphasises the importance of a customer-centric approach to pricing, as well as analysing the value generated for the customer and the role of emotional value in pricing decisions. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. Audio provided by NotebookLM AI.

    15 min

  8. 11/16/2024

    Why is price so important for growth (Double Your Price: Part 4)

    This excerpt from David Falzani's book, "Double Your Price," argues that pricing is the most crucial factor for business growth, even more so than increasing sales. It highlights research from Harvard Business Review and McKinsey that demonstrates how a small price increase can lead to a significant rise in profit and cash generation. The text emphasizes that a company’s price sends a message to customers about its quality and effectiveness, and it argues that under-pricing can create a vicious cycle of low profits and limited reinvestment. The author explores the relationship between price, profit, and working capital, explaining how a higher price can lead to increased cash flow, which is essential for funding the working capital required for business expansion. The excerpt concludes with practical exercises to help readers assess their own price leverage and working capital cycle, encouraging them to prioritize price as a driver of growth. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. Audio provided by NotebookLM AI.

    22 min

  9. 11/16/2024

    The enormous influence of price, 'pricing 101', plus some surprises (Double Your Price: Part 3)

    Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. This discussion, from a larger work on pricing strategy, challenges the traditional cost-plus approach to pricing, which is often used by businesses of all sizes. The author, David Falzani, argues that under-pricing is a key business error, and that companies should instead focus on building value and charging premium prices. He provides numerous examples of how functionally identical products are sold at vastly different price points due to branding and perceived value. Falzani also outlines the dangers of being "stuck in the middle" by attempting to be both the cheapest and the best, advocating instead for either a cost leadership or differentiation leadership strategy. The excerpt concludes with a call for businesses to adopt a "smart pricing" approach that considers customer value and market dynamics rather than relying on outdated pricing models. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    23 min

  10. 11/08/2024

    Why Under-Pricing is a Common Business Error (Double Your Price: Part 2)

    Part 2. A discussion of under pricing, and the reasons why it’s so common. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. This excerpt from David Falzani's prize winning book, "Double Your Price," focuses on the detrimental effects of under-pricing in business. Falzani argues that under-pricing, defined as selling products or services significantly below their potential market value, is a common error that can cripple a company's growth and ultimately lead to its downfall. He asserts that businesses often under-price due to a lack of confidence in their value proposition, fear of insufficient sales, or a failure to regularly review and adjust pricing. This behaviour is often fuelled by cognitive biases, such as confirmation bias and anchoring, that hinder rational decision-making. Falzani then presents evidence from successful high-growth companies, such as Innocent Drinks and Apple, to illustrate how charging premium prices can drive profitability, investment, and sustainable growth. The text concludes by providing practical questions to assess whether a business is under-pricing and offers techniques like single-use economics to analyse profitability. Ultimately, the excerpt aims to dispel the misconception that low prices guarantee success and to emphasize the critical role of strategic pricing in achieving long-term business prosperity.  https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    18 min

  11. 11/08/2024

    Pricing Strategy and Tactics (Double Your Price: Part 1)

    Part 1. An introduction to the strategy and tactics of smart pricing. Double Your Price: The Strategy and Tactics of Smart Pricing - Winner of The Sales & Marketing Book 2024, Business Book Awards. This excerpt highlights the importance of strategic pricing for business growth and its impact on factors such as innovation, employee motivation, and customer value. The author, David Falzani, challenges the traditional cost-plus pricing method and introduces value-based pricing, emphasizing the critical role of price in a business's success. The excerpt also explores cognitive biases that often lead to under-pricing, demonstrating how to overcome these obstacles and utilise smart pricing strategies. https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ Audio provided by NotebookLM AI.

    13 min
  • 11 Episodes

About

A 10-part podcast discussing Pricing Strategy and Tactics, taken from Double Your Price - Winner of The Sales & Marketing Book 2024, Business Book Awards. ⁠https://www.amazon.com/Double-Your-Price-Strategy-Tactics/dp/1292426349/⁠ ⁠ https://www.amazon.co.uk/Double-Your-Price-Strategy-Tactics/dp/1292426349/ The audio is provided by NotebookLM AI.

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