This is part two of a four-part series with pricing expert and Pragmatic instructor Mark Stiving. Each new episode will feature a case study on current pricing trends.
Should Dollar Tree increase its product prices to $1.25 or reduce its costs by offering less at the same price? Well, they increased their price for the first time in 35 years, but was it the right choice?
In this episode of Pragmatic Live, Rebecca Kalogeris, VP of marketing for Pragmatic Institute, and Mark discuss the concept of shrinkflation. Specifically, how to know when it’s the right time to increase prices or decrease costs.
They discuss:
- Why we might notice changes in volume, features and quality more than price changes.
- How do we make changes that increase profits but don’t upset buyers or users?
- Why now might be the best time to experiment with pricing.
Want to Learn More About Pricing Strategies?
Pragmatic Course: Pricing | $1,195
Learn more about pricing segmentation in the Price course. You’ll also learn how to determine market value and how to maximize your profit while minimizing discounting. You’ll be introduced to several pricing tools including
- Product Portfolio Worksheet
- Isoprofit Tables
- Pricing Ownership Matrix
- Value Matrix
Pragmatic Learning Network: Accelerate Your Subscription Business | $500
Pricing expert Mark Stiving brings his expertise on subscription models to our Pragmatic Learning Network to help product teams improve their subscription businesses and drive growth.
In this self-paced course, students will learn:
- The three revenue buckets and how they drive prioritization
- The three levels to pull to create and capture more value
- Which growth strategies are best based on the life cycle of a product
- The four ways to grow revenue from a single customer
