Effective Discounting Strategies
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Once a product is in the market, the very next challenge a company faces is its discounting policies. While discounts can lift volumes and improve profits, they can also grant unnecessary price concessions that destroy profits. Clearly, managing price variances right is critical issue, yet how does a company "optimize prices"?
Dr. Tim will provide an approachable overview of the leading fundamental method to managing price variances, which leads directly into economic price optimization from demand elasticity measures.
5 Reasons to Order
- Put your discounting strategy in context with a wide range of industry best and worst practices
- Understand the right and wrong times for discounting
- Discover how internal alignment around business objectives is critical to a successful discounting strategy
- Learn how different types of discounting will positively and negatively influence customer buying behaviors
- Gain control over discounts through a better grasp of policy setting
AuthorsTim J. Smith, Ph.D., Wiglaf Pricing
When Are Discounts Good and When Are They Bad?
How Do You Do a 'Profit Sensitivity Analysis'?
What Is a Volume Hurdle and How You Do Calculate One?
How Does Market Elasticity Influence Discounting Profitability?
What Is a Typical 'Elasticity of Demand'?
What Is the Difference Between Industry Elasticity of Demand and Brand Elasticity of Demand?
How Do You 'Optimize Prices' With Economic Data?
Why Are Pure Economic Calculations Insufficient in Setting Discounting Policy?
Setting a Good Strategy in Motion