Ibbaka Performance Offers a Diagnostic Tool for Pricing Challenges
Diagnose the type of pricing challenge with this online tool
Vancouver, BC, Canada— November 16, 2021 —
Pricing has been identified by leading consultancies such as McKinsey and Simon Kucher Partners as the most powerful lever for increasing revenues or profits. Pricing is a critical part of business strategy.
Many organizations believe that they have a ‘pricing problem.’ Some think that prices are too high, leading them to lose sales or market share, others believe that they are leaving money on the table and have the opportunity to raise prices. Pricing has been identified by experts in behavioral economics and policy makers as an important way to nudge economic decisions in directions that benefit an organization, or society at large.
In most cases, a pricing problem is a symptom of another deeper problem. The price may not accurately reflect the value being provided to a specific customer; the way a product is priced may make it difficult to buy or to combine into a bundle with other products; the price may encourage behaviors that are not in the interests of the buyer, or the seller, or society at large.
To help organizations understand the underlying causes of their pricing problems, Ibbaka is providing a free diagnostic tool. By answering a series of simple questions, organizations can understand the real nature of their pricing challenges, align solutions with business objectives, and find a clear path forward.
“Pricing is sometimes seen as a dark art, full of arcane equations and specialist terms, but the basics are quite simple: deliver value, align price with value, have a clear goal.” says Ibbaka partner Steven Forth. “We designed this tool to help people get insight into the real cause of their pricing challenge and find a way forward.” adds Ed Arnold, an expert in value-based pricing who led the design of the tool.
By working through a simple set of questions people will be able to go beyond the symptoms of their pricing problem and get at the root causes. This will help them to take more effective action. Treating the symptoms can make them worse. Lowering prices because you have been told they are too high can lead to price wars or undermine value messaging. Raising prices because you are under inflationary pressure or think there is an opportunity to capture a few more dollars can backfire and lead to volume declines that push unit costs up further. One can only treat the symptom if one knows the cause.
Accessible from the Ibbaka Website
The Pricing Diagnostic is available from the Ibbaka website. (https://www.ibbaka.com/ibbaka-downloadable-tools). Use this tool to get insight into what type of pricing problem you may have and how to best address it.
About Ibbaka Performance Inc.
Ibbaka (https://www.ibbaka.com) provides software and expertise to enable business growth. Ibbaka optimizes the planning and execution of key growth initiatives like customer value management and talent capabilities development. Ibbaka leverages data-driven analytical capabilities for unparalleled insights into the drivers for growth and profitability.
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The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
For more information, press only:
PR Contact: Liam Hannaford
email: lhannaford@ibbaka.com
For more information on the Pricing Diagnostic Tool:
Steven Forth, Managing Partner
email: steven@ibbaka.com
