Mostrar mensagens com a etiqueta value-based pricing. Mostrar todas as mensagens
Mostrar mensagens com a etiqueta value-based pricing. Mostrar todas as mensagens

sábado, agosto 13, 2022

"The Value Of Selling Value"

"Your company needs you to sell more at higher prices. Your family needs you to work less while bringing home bigger paychecks. Your community needs you to work less so you can participate more. And, you want more time and money for your hobbies. Imagine, if you could win more deals, faster, at higher prices, then all these things could happen.

It's possible! It's possible because you likely have a HUGE gap in your selling toolkit. Ninety-nine percent of businesspeople I speak with don't really understand value. This problem is almost universal. Yet salespeople, more than anybody else, benefit by deeply understanding buyer perceived value.

...

Every purchase happens exactly the same way. The buyer looks at the price of a product and compares it to the value they expect to receive. If the prospect doesn't purchase, it's for one of two reasons: the price was too high, or they didn't perceive enough value. You can probably lower your price enough to get them to purchase, but that's not why you're in business, or in sales. The key is helping the buyer perceive more value."

Este tema é importante para se chegar ao quadrante de ouro:

E quem está no negócio tem de trabalhar para o fazer. E vejo pouco, muito pouco trabalho sistemático para o fazer. De entre as poucas empresas que trabalham sistematicamente para aumentar preços a maioria aposta em torneios de braço-de-ferro. 

Claro que não é disso que estamos aqui a falar.

Agora imaginem esta predisposição para não trabalhar para o aumento de preços, conjugada com inflação elevada, falta de mão de obra, e voracidade fiscal.

Ao escrever "esta predisposição para não trabalhar para o aumento de preços" recordei a noite em que morreram as ilusões de Cavaco

A forma como se está num negócio depende do pensamento dos donos do capital. Há empresas que são geridas como o aproveitamento de uma oportunidade limitada no tempo. Há empresas que são geridas como um terreno agrícola, pretende-se passá-las a descendentes sem prejudicar as hipóteses desses descendentes. Há empresas que sobrevivem, um ponzi mais ou menos longo à espera de rebentar.

Quem gere uma empresa como um terreno agrícola, num país pequeno e aberto como Portugal, só tem um caminho, trabalhar para ser uma joalharia. Pode não ser o maior, pode não ser o mais rentável no curto-prazo, pode ... 

Trechos retirados de "Selling Value: How to Win More Deals at Higher Prices" de Mark Stiving. 

quinta-feira, agosto 11, 2022

"but you aren’t selling value"

"Pricing experts like me evangelize the importance of value-based pricing. It's the most profitable pricing strategy out there. Yet, when asked the question, "What is value?" even pricing experts don't agree. Face it. Value is an ambiguous word, but ambiguous doesn't mean unimportant.

Value is possibly the single most important, yet misunderstood, concept in business. To make a purchase, your buyers must believe they will receive significantly more value than they pay. Your entire business is based on trading value for money, but what is value?

It's not surprising that most companies can't clearly explain how much value their customers get from their products. Even most salespeople, who are the closest to the customers, can't explain how buyers perceive value when making purchase decisions.

...

Experts buy features. Everyone else buys benefits. Very few people are experts. 

Forrester tells us, “Sixty-two percent of vendor salespeople are knowledgeable about their company and its products, but only 22% understand the buyers’ business issues, and where they can help.” This means you probably know your products, but you aren’t selling value."

Trechos retirados de "Selling Value: How to Win More Deals at Higher Prices" de Mark Stiving.

quarta-feira, setembro 15, 2021

Uma sistematização interessante

Um artigo, "Three Ways to Sell Value in B2B Markets" publicado no número de Outono da revista MIT Sloan Management Review:

"we suggest that rather than viewing VBS as a single strategy, vendors should choose from three different approaches. Our findings suggest that vendors can adopt either a product-centric, customer process-centric, or performance-centric VBS approach.

...

VBS is based on demonstrating and documenting the monetary worth of the economic, technical, service, and social benefits a specific customer receives in exchange for the price that customer pays. This is a powerful marketing approach, because ultimately, B2B customers purchase goods and services to reduce their costs or boost their own revenues."

Uma sistematização interessante. 

sábado, julho 03, 2021

Are you a Marxianist?

"Are you a Marxist? You are likely to answer “no.” So my next question is: “OK, if you are not a Marxist, why is your pricing Marxian?” While Marx’s labor theory is totally rejected today, it has survived in pricing. What a strange phenomenon! Let me explain why that is the case.

The most important contribution of Karl Marx (1818–1883) was his labor theory of value, according to which only labor creates value. He writes that the “prices of goods are determined by wages” (Marx 1951). Marx allows for differences in productivity and qualifications of workers, and thus for different values per unit of time. But the core of his theory is that only labor creates value. Consequently, labor costs are the sole base for price calculations.

In modern terminology, we call this method “cost-plus pricing.” Based on my decades of observations around the world, I would claim that 80% of all prices in today’s markets are primarily determined on the basis of costs. And all costs are labor costs. Lawyers, consultants, and most other service providers charge prices for their time (hourly, daily, monthly rates). If an automotive company buys parts from a supplier, these parts from a supplier, these parts carry labor costs up the value chain."

Leio isto em “A Remarkable Journey from Farmhouse to the Global Stage” de Hermann Simon. É uma pena Hermann Simon ser tão mal conhecido em Portugal... um país pequeno como Portugal, parte do continente europeu e aspirante a um nível de vida centro europeu não pode confiar no marxianismo, não pode seguir a receita dos muggles, tem de seguir o método alemão. Não a baboseira que nos contam sobre as BMW, ou VW, isso não está no nosso ADN, nem temos capital para isso. Isso é para futuros governos inteligentes (eheheheh um oxímoro em Portugal, juntar as duas palavras. Em Portugal é mais, infelizmente, "governo de espertos") que apliquem a receita irlandesa para atrair capital estrangeiro que estabelecerá as multinacionais. 

O método alemão de que falo é o que Hermann Simon caracterizou como o dos campeões escondidos, o seguido pelas Mittelstand. Empresas grandes a competir com chineses dá ... asneira.

Recordar "Somos todos alemães" ou "We are not cost cutters" ou "Somos todos alemães (parte X)". E para quem tem horror a escolher clientes ou segmentos do mercado recomendo "Há que escolher! (parte III)"

quarta-feira, setembro 23, 2020

"only about one quarter are truly profit-oriented"

 "“No company has ever failed from making a profit. Most companies are revenue driven, market share driven, sales driven and only about one quarter are truly profit-oriented.”

So if you want your company to not just survive the Coronavirus pandemic but thrive long into the future, you need to understand that pricing isn’t about the price per se, it’s about value.

More importantly, price is about the value your customers place on your product or service.

“Pricing is about value, or more precisely, the value perceived by the customers. If the customer perceives a high value, he or she is willing to pay a high price. If the perceived value is lower, you have to offer the product at a lower price.”"

Trecho retirado de "Why Pricing Is Not Primarily About Price with Hermann Simon

quinta-feira, março 05, 2020

Value-based selling (parte II)

Parte I.

As vendas deviam ser transformadas, por quem vende, num investimento para quem compra.
No b2b se o cliente pagar x quanto vai ganhar, y, por escolher uma certa opção A em detrimento de uma certa opção B?
No b2c se o cliente pagar x que experiência vai poder viver se escolher por uma certa opção A em detrimento de uma certa opção B?
"In b2b market, both the supplier (when offering their products/solutions) and the buyer (when choosing among alternative offers) aim at increasing their own value (NPV). Both the supplier and the customer can increase their values by eight dimensions that are called financial value drivers.
1. Sales increase. Additional sales increase (ceteris paribus) value.

2. Operating profit margin. Bigger operating profit margin increases (ceteris paribus) value.

3. Tax rate. Reduction of tax paid increases (ceteris paribus) value.
.
4. Effectiveness of working capital investment. Working capital equals current assets (cash, accounts receivable and inventory) minus accounts payable. The effectiveness of working capital investment can be measured as a relation between operating profit, cash frozen in accounts receivable, and inventory (the bigger the relation, the better) or determined by the time of outflows and inflows of cash (the shorter time between cash payments for buying parts and materials, and cash inflows from sales, the better).
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5. Effectiveness of fixed asset investment. The improvement of relation of operating profit to cash frozen in fixed assets increases (ceteris paribus) value.
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6. Cost of capital. Smaller cash paid by company to debtors (interest rate) and the owners (return) for their capital increases (ceteris paribus) value.
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7. Value creation period. The longer a business can generate cash on the expected level (ceteris paribus), the bigger value.
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8. Launching an additional business unit (new product, additional source of value) increases (ceteris paribus) value.

VP is defined as translating the differentiating feature (design attribute) of an offering into monetary impact on customer's business value in value-based selling.

tell the story about the offer's impact on customer's business operating profit margin (by reducing one of operating costs), so about one of eight financial value drivers.

The "product differentiating feature/design attribute" is the real cause of the impact on the customer's both non-financial and financial value driver (s). VP translates the offer's feature (as a cause) into quantified non-financial and financial effects. Thirdly, the differential impact of the offer on the customer's business value justifies its higher price that is presented as an investment for the customer. The supplier avoids price competition this way."
Trechos de "Where is value in b2b value proposition? The concept of value in research on selling, innovation management and NPD" de Ryszard Kłeczek, publicado em Wroclaw University of Economics and Business em Abril de 2018:



domingo, março 01, 2020

Value-based selling (parte I)

Uma das minhas paixões é o value-based selling. Gostei particularmente deste artigo "Where is value in b2b value proposition? The concept of value in research on selling, innovation management and NPD" de Ryszard Kłeczek, publicado em Wroclaw University of Economics and Business em Abril de 2018:
"(1) the VP as the device for knowledge transfer in both sales (value-based selling) and new product development processes in the company, (2) reinterprets results of current research (the research revealed some scope of financial value drives used in real business cases: some value drivers were used in crafting VPs,
...
A value proposition (VP) is a statement that translates the features (design attributes) of supplier offering into monetary impact on customer business value, for instance: "feature X translates into energy saving of 1000 kWh and energy costs of 225 per year" or "feature Y translates into maintenance time reduction by 200 hours and, consequently, maintenance cost of 6000 per year".
...
VP is a device that: (1) enhances knowledge transfer between actors that collaborate in value creation, (2) overcomes the weaknesses of vague promises like "cost reductions" or "increased efficiency", and traditional concepts like „perceived customer benefits” and "product quality" in explaining b2b relations, (3) creates an alternative for developing and selling the components at prices allowable (by customer) and enables negotiation of differentiated (high) prices for differentiating impact on customer business value.
...
VP is crafted iteratively by actors collaborating in value creation processes on both supplier and customer side.
...
VP in b2b value-based selling. How to communicate the current offer's impact on customer business value and get the differentiated price?...
VP concept to explain the sales process in b2b settings. The managerial question here is how to change the selling process from selling the offer's functionalities into selling its impact on customer business value to get the appropriately high price (to show the price as investment for the customer's business). ... the VP, crafted and communicated by the salesperson, as the supplier's offer's impact on the customer's business value expressed in monetary terms (not in functional terms only), compared with the next-best alternative for the customer (the VP is understood as a managerial accounting device that enables knowledge transfer between salespeople and the customer). The salesperson crafts the VP based on identified value drivers for adding substantial value to the customer's business. Because customers are sometimes unaware of, or unable to explain their value increase potential, understanding customer needs (as they are articulated by customer) is not enough to craft the value proposition.
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Understanding the customer's business model is required as well. Value-based (value proposition) selling converges upon finding and offering the best long-term solution for the customer's business, which shifts the focus of purchasing from looking for the lowest price to making business investment decisions."
Continua.

sábado, novembro 23, 2019

Especulação sobre mais um falhanço da automatização

Ao longo dos anos tenho aqui deixado exemplos acerca das limitações da automatização da produção em massa, quando o mundo económico caminha para mais diversidade.

Assim, os exemplos que cito mais vezes são o da Toyota e o da Mercedes. Recentemente, encontrei o exemplo da Adidas (embora a coisa ainda não esteja bem explicada). Fazem-me lembrar o caso recente de uma conversa com um empresário. Alguém que pensava e que não era nenhum burgesso:
  • Via cada vez mais variedade, mais referências nas encomendas;
  • Recebia cada vez mais encomendas, mas mais pequenas; 
  • Continuava a procurar gerir a sua empresa com base em indicadores de eficiência.
Ou seja, tinha os clientes a deslocarem-se num sentido, mas ele continuava a gerir a empresa à maneira do século XX.

Quando o mercado exige mais variedade, a gestão tem de abandonar os cânones do século XX e em vez de continuar prisioneira do lado direito da figura abaixo, pensar em transitar para o seu lado esquerdo:
Agora fazer figura do vermelho abaixo é que não dá:
Stuck-in-the-middle ao tentar ser tudo para todos. Espero que tenha apanhado a ideia de Skinner e da plant-within-the-plant.

Assentemos ideias - automatização e Mongo, a metáfora que uso para descrever o mundo económico para onde caminhamos, não são incompatíveis. O que é incompatível é tentar usar a automatização em produções que não são em massa, com a abordagem da produção em massa. A automatização é fantástica para apoiar um artesão, ou uma cooperativa de artesãos, ou uma pequena unidade produtiva de artesãos. O que as empresas grandes fazem é tentar esticar a produção em massa para além do seu prazo de validade e dá suckiness

O que as empresas grandes fazem é rejeitar o futuro, porque continuam agarradas ao passado. Por exemplo, a VW, à boa maneira alemã, ao contrário do empresário lá em cima que aceita tudo, analisa e rejeita o que não se encaixa no seu modelo de negócio: depois, arrepende-se.

Entretanto, ontem tiveram a atenção de através de um tweet ... 
... me fazerem chegar este texto "Boeing abandons its failed fuselage robots on the 777X, handing the job back to machinists" (engraçado, passei o dia a trabalhar via iternet com alguém em Seattle. Força Brett):
"After enduring a manufacturing mess that spanned six years and cost millions of dollars as it implemented a large-scale robotic system for automated assembly of the 777 fuselage, Boeing has abandoned the robots and will go back to relying more on its human machinists.
.
Boeing said Wednesday it is adopting a different approach that “has proven more reliable, requiring less work by hand and less rework, than what the robots were capable of.”
...
The automation has never delivered its promise of reduced hand labor and Boeing has had to maintain a substantial workforce of mechanics to finish the work of the robots. Because of the errors in the automation, that often took longer than if they had done it all by hand from the start. Boeing said Wednesday there are no planned changes in total staffing."
Interessante que me apetece especular e dar uma sugestão que não tem nada a ver com o que escrevi acima acerca da variedade. Quem é o cliente da linha de montagem da Boeing? A Boeing! A customização não deve ser o problema aqui, até porque a palavra que sublinho acima é "rework". A Toyota e a Mercedes abandonaram os robots não por causa do rework, mas por causa do tempo necessário para voltar a produzir, tempo para afinar e introduzir novos parâmetros.

Como a Boeing é americana, como a Boeing me tem dado vastos exemplos, ao longo dos anos, de sofrer da doença algo-saxónica, a doença da tríade, a doença do século XX. Caricaturando a situação, aquilo deve ser gerido por clones de Kevin O'Leary.

O que me parece mais provável neste caso é outro tema que já apanhei num projecto:
  • Empresa avança para automatização, para reduzir custos porque a gerência só vê custo, custo, custo;
  • Empresa monta robots na produção, mas continua a comprar a matéria-prima como sempre comprou;
  • A matéria-prima barata, sem ser defeituosa, tinha grande variabilidade na espessura, algo que os humanos em conjunto com as máquinas dos anos 70, resolviam rapidamente com a introdução ou retirada de um componente auxiliar;
  • A matéria-prima barata continuou a ser comprada para ser usada com os robots e diferenças de 1 cm ou mais eram a morte do artista. A produção estava sempre a parar porque o lase do robot ou não encontrava o material que era suposto encontrar, segundo o desenho, ou encontrava material numa outra posição tridimensional... asneira: paragem; ou rework, ou scrap! Produtividade é que não.
Aposto que a automatização bem sucedida da Boeing obrigaria a diferentes exigências para o aço comprado... isso implicaria aço mais caro... pois, Total Value Ownership.

sexta-feira, março 09, 2018

"get the customer to appreciate a bigger picture"

Um conjunto de bons conselhos sobre value-based pricing em, "The 4 Basic Value Selling Skills And How To Teach Them":
"Customers who define narrow, specific needs tend to focus primarily on price because there are often a number of competitors who can meet those needs … so they will treat your offering as a commodity. Your reps have to know how to get the customer to appreciate a bigger picture:[Moi ici: Recordar "resourceness is not an intrinsic characteristic of a resource, but is a socially constructed and institutionalized phenomenon"] the bigger the perceived need, the more urgency the customers will have to buy and the more they will focus on value-drivers, not just price.
...
Customers go through predictable steps when making a buying decision. To sell value, the rep must be able to understand and support that process. What are the steps? What are decision makers typically involved? What role does each type of decision maker play in the process? At what points in the process does each decision maker get involved? And, most importantly, how can the rep make contact with each of these decision makers?
...
Value-based selling only occurs when the customer is looking at factors other than price. That means your reps have to become adept at knowing what specific features of your offerings represent strong positive differentiators. On the flipside, they also need to know differentiators where your competitors have the advantage. They must know how to emphasize the former and downplay or counteract the latter."

quarta-feira, fevereiro 14, 2018

Provocação

Disseram-me há dias qualquer coisa como:
- Marcas grandes nascem em países/mercados grandes
Não me recordo se me disseram marcas grandes ou grandes marcas, mas o sentido que sublinho aqui é o de marcas grandes.

A afirmação é verdadeira, pode não ser absoluta, mas é suficientemente aproximada para ser verdadeira.

Entretanto, comecei a pensar em exemplos de marcas mundialmente conhecidas e que nasceram em países/mercados pequenos. E julgo que posso afirmar:
- Grandes marcas podem nascer em países/mercados pequenos
Os exemplos de marcas mundialmente conhecidas e que nasceram em países/mercados pequenos têm uma particularidade, especulo: apontam sempre para segmentos altos nas suas categorias.

Países/mercados pequenos não são bons para gerar marcas, organização, produção para o mercado de massas.

É uma empresa portuguesa com uma marca própria? Pense nesta provocação, para que segmentos trabalha?

Claro que não é veni, vidi, vici. Pense no que está a fazer sobre isto:

BTW, quando Robert Simons escreve sobre os campeões escondidos, fala destas grandes marcas, mas marcas para o B2B e, por isso, desconhecidas do grande público. 

Comunicar

"The third dimension of value-based selling is the communication of the value proposition to the customer. According to the interviews, the most salient aspect of the sales communication is the credible demonstration of the offering’s contribution to the customer’s business profits. While any salesperson might claim to save money or enhance customer revenues, value-based sellers provide persuasive evidence for their value claims. Clearly value evidence acts as a powerful mechanism to reduce ambiguity regarding superior value for the customer.
...
Respondents emphasized that credible communication in value-based selling should actively aim to reduce customer perceived risk. We identified two widely used risk reduction strategies in value communication. First, references can be used to demonstrate a history of past successes and evidence of the vendor’s willingness and capability to deliver superior value.
...
Second, companies emphasizing value-based selling were widely implementing guarantees to signal their credible commitment to delivering superior value. Bearing some of customer’s risk was often regarded as the flip side of sharing the value pie.
...
In sum, communicating the value proposition is defined as the degree to which a salesperson focuses on convincing customers that the proposed offering would impact their profit statement."
Trechos retirados de "It's almost like taking the sales out of selling— Conceptualizing value-based selling in business markets", publicado por Industrial Marketing Management · January 2012

segunda-feira, fevereiro 12, 2018

Quantificar

"In value-based selling, the focus is on active identification of customer problems and the creation of mutually valuable solutions to those problems. Hence, value oriented salespeople strive to actively indentify and craft offerings that have substantial potential to impact customer profits. The interviews indicate that quantification efforts are a major aspect of crafting the value proposition. Salespeople can base their customer value quantification efforts on different methods such as customer specific value calculations, value studies, simulations, return-on-investment studies, lifecycle calculations, and knowledge about the value created for reference customers. Quantification efforts aim to build evidence for the offering’s monetary implications in the customer application for value-in-use.
...
An effective value proposition cannot be crafted by the seller alone but requires at least some mutuality and participation from the customer based on dialogue, customer specific data, and other customer inputs. Overall, this reflects service thinking where crafting value propositions is based on the idea of “co-creation” of value rather than predefined “delivery” of value.
...
Even if salespeople cannot precisely quantify the value of their offerings, our interviews underline the importance of making the size of the value opportunity visible to the customer.
...
In sum, we define crafting the value proposition as the degree to which a salesperson builds up quantified evidence about the size of the market offering’s value opportunity in terms of its impact on the customer’s business."
Recentemente num projecto, ao listarmos o que é que os actores de um ecossistema da procura procuravam e valorizavam, um dos tópicos foi "durabilidade".
"O nosso produto tem uma durabilidade superior à da concorrência."
 Disse-lhes que o meu filho mais novo aos oito anos já dizia: publicidade!

Vou falar-lhes de "builds up quantified evidence about the size of the market offering’s value opportunity in terms of its impact on the customer’s business". Que estudos suportam a afirmação acerca da durabilidade superior? Que argumentos suportados tecnicamente? Que números suportados em experiências?

Trechos retirados de "It's almost like taking the sales out of selling— Conceptualizing value-based selling in business markets", publicado por Industrial Marketing Management · January 2012

sábado, fevereiro 10, 2018

"focuses on identifying key drivers of customers’ earning logic"

"The face-to-face interviews with sales managers indicated that value-based selling is a viable and utilized sales approach in the companies selected for our study. The common themes recurring in top of mind responses indicate that value-based selling behaviors shift the sales focus to the offering’s implications for the customer’s business instead of focusing on customers’ expressed needs and creating customer satisfaction. [Moi ici: Rever este sublinhado, sobretudo aquele "implications for the customer’s business"] More specifically, respondents emphasized that value-based selling is a broader approach than selling product functionalities or customer benefits, focusing on the value-in-use potential of the offering for the customer’s business and financial profits.
...
value-based selling goes beyond presenting the benefits of an offering to the customer. The central aspects of value-based selling behaviors are efforts to understand the customer’s business and the related value creation opportunities, proactive crafting of value propositions that are substantive from customer’s point of view, and communicating the value potential to the customer.
...
More specifically, the analysis of the interviews reveals that value-based selling is a multidimensional concept comprising three salient dimensions: (1) understanding the customer’s business model, (2) crafting the value proposition, and (3) communicating the value. We therefore define value-based selling behavior as “the degree to which the salesperson works with the customer to craft a market offering in such a way that benefits are translated into monetary terms, based on an in- depth understanding of the customer's business model, thereby convincingly demonstrating their contribution to customers’ profitability.”
...
Understanding the customer’s business modelAll respondents emphasized that value-based selling must be based on behaviors focusing on building a thorough understanding of the customer’s business goals. The need for a thorough understanding was manifested in a variety of ways in the interviewees’ comments, such as the need to understand the customer’s goals, how the customer makes its money, the customer’s earning logic, and to understand the customer’s customers, which are all condensed into the business model concept.
...
In sum, understanding the customer’s business model is defined as the degree to which a salesperson focuses on identifying key drivers of customers’ earning logic. This understanding forms the basis for crafting compelling value propositions and communicating them effectively."

Continua.

Trechos retirados de "It's almost like taking the sales out of selling— Conceptualizing value-based selling in business markets", publicado por Industrial Marketing Management · January 2012

terça-feira, fevereiro 06, 2018

"Prices are therefore co-created with customers"

"While the difficult-to-imitate and non-mobile resources protect firms against excessive value appropriation by competitors, pricing helps to protect them against excessive value capturing by customers.
...
explicit assessment of what a product or service is worth to the customer, leads to higher levels of new products and increases managers’ satisfaction with price decisions. This practice has become known in the literature as value-informed pricing, sometimes called value-based pricing.
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Value-informed pricing refers to the degree to which decision makers base the price of a market offering on the customers’ perceptions of the benefits that the product offers, and how these benefits are traded-off by customers against the price (that has yet to be determined). Managers create such understanding through the organizational processing of market information. The increasing attention for such pricing practices can be explained from their great appeal to managers, who see immediate returns from improving their value-informed pricing practices.
...
prices are the reward for value creation and that value-informed pricing is the central pricing practice in this process. Because market positions change in the dynamic process of competition, prices should change with them. Pricing is a, so called, operant resource that acts on other resources, including the customer. Prices are therefore co-created with customers and include not only the how much, but also the how, whether, when, by whom, and where elements of the reward. Companies can innovate in pricing and thereby increase their pricing competitive advantage. Prices do not only vary between high and low, but also between “good” and “bad”. Ineffective pricing is not only detrimental to the seller, but as these effects ripple through networks, they eventually harm economic growth."

Trechos retirados de Paul T.M. Ingenbleek , (2014),"The theoretical foundations of value-informed pricing in the service-dominant logic of marketing", Management Decision, Vol. 52 Iss 1 pp. 33 - 53

Continua.

terça-feira, janeiro 30, 2018

"price fairness perception" (Parte V)

Parte I, parte IIparte III e Parte IV.
"Proposition 5: Managerial overemphasis on customer price fairness perception is negatively related to the extent to which firms practice value-based pricing." 
"“[P]erhaps few ideas have wider currency than the mistaken impression that prices are or should be determined by costs of production”. The prevalence of this notion is perhaps surpassed only by the incorrect perception among both customers and suppliers that cost-based prices are fair. Research in psychology suggests that egocentrism leads to biased fairness judgments —a proposition corroborated by marketing research on price fairness.
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As deviations from the norm also have a negative influence on price fairness perception, the predominant focus on cost-based pricing in many industries may better explain the biased per- ception of value-based pricing as unfair.
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Pricing, then, should be based on value rather than costs. Drawing on service-dominant logic ... pricing is a co-creational practice, characterizing it as
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“a negotiation process in which buyers and sellers jointly assess the value in context for the buyer. In this process, prices eventually get influenced by various customer resources, including their ability to trust the seller, anticipate future transactions (‘give now, take later’), argue about price fairness, and resolve conflicts.”
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As pricing is based on both parties' joint evaluation, such practices allow both buyer and seller to capture a fair share of value. Nevertheless, firms seem concerned that customers view practices that emphasize value-based pricing as unfair."

segunda-feira, janeiro 29, 2018

Aversão à ambiguidade (parte IV)

Parte I, parte II e parte III.
"Proposition 4: Managerial ambiguity aversion is negatively (positively) related to the extent to which firms practice value-based (cost-based) pricing."
Quanto mais os gestores têm medo da ambiguidade menos praticam o value-based pricing!
"Ambiguity is “the subjective experience of missing information relevant to a prediction”. People tend to avoid decisions based on ambiguous information.
...
Although research has traditionally regarded pricing as simple, it is in practice a difficult process involving vague and uncertain information. As pricing decisions are based on uncertain information concerning risks, managerial ambiguity aversion has practical ramifications for price-setting, aggravated by the need to allocate limited managerial resources (e.g., attention, time, money) to different managerial tasks.
In such circumstances, it is perhaps unsurprising that managers often avoid ambiguity when making decisions and instead rely on simple heuristics.
...
Managers often lack precise information about customer perceived value, which is difficult to collect and evaluate. In contrast, cost information (e.g., unit cost) is often readily available and may appear precise and unambiguous. Although information about customer perceived value remains the most useful for profitable pricing, it is imprecise, ambiguous, and hard to quantify. For that reason, more certain information is given more weight in decision-making.
...
while cost-based pricing is inherently ambiguity- averse, value-based pricing requires managers to accept some degree of ambiguity or vague information. Consequently, only managers who can tolerate ambiguity will be able to commit to value-based pricing practices. In other words, managers should remember “that it is better to be approximately right than to be precisely wrong”

domingo, janeiro 28, 2018

O efeito da soma nula (parte III)

Parte I e parte II. 
"Proposition 3: Managerial perception of pricing as a fixed-pie problem is negatively related to the extent to which firms practice value-based pricing."
"The fixed-pie bias has been defined as “the judgment that one's own interests are diametrically opposed to [those of] one's opponent”. Commonly found in the negotiation literature, this bias prevents integrative negotiations to increase the metaphorical “pie” for both parties. ... For example, ... “[t]he dominant assumption [of managers regarding pricing] is that what is gained by the firm is lost by the customer and vice versa, and that pricing is, in the end, a zero-sum game
...
A focus on cost-based pricing is common in business markets. As cost-based pricing is myopic (beginning with the product and ending with the customer), marketing must demonstrate value to defend prices. As a consequence, production costs are fixed, and potential customer value is also fixed (or at least constrained). Certainly, pricing appears to be a zero-sum game in such a situation; as price is the only flexible element, one firm's gain is the other's loss. In contrast, value-based pricing begins with the customer and their perception of value; costs and prices are flexible and contingent on customer needs. In other words, the only costs imposed on customers are those necessary to provide the benefits that customers actually want.
...
As a customer-focused practice, value-based pricing can potentially turn business relationships into win-win situations through a better understanding of customers' perceived value, so increasing profits for both customers and suppliers. [Moi ici: Porque não percebia isto, quando em 1992 li Marn & Rosiello chamei-lhes burros. Só anos depois percebi que o burro era eu] However, the more common managerial view is to perceive pricing as a win-lose situation. On this view, superior customer value creation and capturing part of that value in the form of reasonable profit are contradictory objectives, thus inhibiting value- based pricing in business markets."

quinta-feira, janeiro 25, 2018

O efeito de rebanho (parte II)

Parte I.

O segundo viés cognitivo é o do efeito de rebanho.
"Proposition 2: The extent of managerial price herding is negatively related to the extent to which firms practice value-based pricing."
O que é isto do efeito de rebanho?
"Herding is defined as individual disregard of private information, instead basing decisions on the observed actions of the majority. In so doing, individuals assume that decisions taken by the majority constitute valuable information for their own decision-making.
...
In the context of pricing, managers who engage in herding deliberately disregard private information (e.g., about customers' purchase history) and instead conform to market prices. The assumption underlying this herding effect is that market prices constitute a viable point of reference. Managers may resort to herding because they believe that competitor prices reveal information about the market, or that pricing like one's competitors seems a justifiable tactic. ... many firms evade responsibility for pricing decisions by following market or competitor prices instead. Managers “do not want to stand alone when they increase the prices if the competition does not move”. In other words, managers fear accountability in the event of an unfavorable outcome. This suggests that herding's foundations may be motivational as well as cognitive. On the other hand, ... firms that “set the rules of the game” —do not hand over pricing responsibility to the market but instead price strategically. In other words, these firms consider pricing to be a matter of meticulous managerial activity.
...
companies that simply match competitors' prices irrespective of cost and customer considerations are mimicking those competitors rather than analyzing them; this is not competition-based pricing but rather indicates a herd mentality.
...
That said, the weight of the evidence suggests that price herding is habitual rather than strategic. Consequently, a herd mentality is myopic, as it typically neglects distinct product characteristics, and increases the likelihood of price wars. That being so, it becomes important to understand product differences and to withstand competitive price pressure.
The fundamental issue with price herding is its reactive nature and its disregard for potentially useful information about cost and customer value. Moreover, a strong emphasis on market and competitor prices diverts managerial attention from the effort to comprehend customer perceived value. [Moi ici: Recordar Dastardly] It also distracts from efforts to comprehend the strategic actions of competitors (e.g., their pricing strategy) and to observe or anticipate market developments (e.g., changes in market structure or segments)."
Trechos retirados de "Value-based pricing and cognitive biases: An overview for business markets" de Mario Kienzler e publicado online por Industrial Marketing Management.

quarta-feira, janeiro 24, 2018

Nada atraente

o Paulo Peres chamou-me a atenção para um artigo que me parece muito bom, "Value-based pricing and cognitive biases: An overview for business markets" de Mario Kienzler e publicado online por Industrial Marketing Management. O artigo lida com 4 vieses cognitivos que afectam a temática do pricing por parte dos agentes económicos.

Mal comecei a ler o artigo apreciei a quantidade de autores que ao longo dos anos li e que agora aparecem num texto sobre pricing. Nomes como: Kahneman, Gigerenzer e Ariely. Depois, quando encontro uma relação entre um tema que há longos anos aqui tenho referido, o locus de controlo, com o pricing, foi ouro sobre azul. 

Vejamos então o primeiro viés cognitivo: A percepção da falta de controlo.
"Proposition 1: The extent of managers' internal (external) LOC is positively (negatively) related to the extent to which firms practice value- based pricing."
Racional para isto?
"Control is an important concept in psychology and sociology, frequently operationalized as a subjective, domain-specific, and outcome- oriented construct related to locus of control (LOC) ... individuals with an external LOC perceive luck, coincidence, or influ-ential others as shaping external events that they must passively bear.
..
Research in psychology has frequently investigated the illusion of control—that is, overestimation of one's perceived control in chance situations. In contrast, perceived lack of control is defined as the tendency to underestimate one's control over events. The evidence suggests that people tend to under- estimate their control in situations where they actually have control.
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In the context of pricing, perceived lack of control manifests as a subjective perception of managerial control over pricing that leads to a concrete price outcome. As such, a range of evidence suggests that LOC affects managerial pricing practices. More precisely, managers with an external LOC react positively to pricing practices that emphasize cost- or competition-based pricing.
...
many managers believe they have no control over pricing and that “‘we determine our costs and take our industry's traditional margins’ or ‘the market sets the price and we have to figure out how to cope with it.’”
...
entrepreneurs with an external locus of control prefer low-cost strategies—that is, strategies with a focus on costs and low prices.
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Managers characterized by perceived lack of control over pricing are passive and rely on docile pricing practices such as adding a margin to costs or matching market prices. In contrast, value-based pricing requires managers to actively and confidently influence pricing through their behavior—a view associated with an internal LOC."
Depois destes sublinhados, regresso ao primeiro postal, de 2007, onde mencionei aqui o tema locus de controlo e a duas perguntas que fiz na altura:
"E quando um gestor tem o seu Locus de Controlo no exterior?.
Aparecem-nos comportamentos deste tipo.
Os telejornais, os foruns, os jornais e as antenas abertas, são o palco para quem se queixa dos chineses, esses malvados, ou dos espanhóis, ou dos polacos, ou dos marroquinos, ou dos portuenses, ou dos lisboetas, ou dos bracarenses... a culpa é sempre dos outros.
...
E quando numa comunidade a maioria dos seus membros tem o seu Locus de Controlo no exterior? Nada atraente!!!"

quarta-feira, janeiro 10, 2018

Estória comum

Esta estória é demasiado comum, e a atribuição final é paradigmática:
"In April 2000, Krispy Kreme went public. On the first day of trading, investors looking to desert the faltering dot-com bubble piled in and the KKD stock soared 76 percent. Krispy Kreme then experienced huge pressure to sustain expansion quarter after quarter, and growth quickly became the company's only story. And it seemed to be delivering. By mid-2003, Krispy Kreme stock was trading near $50, up 235 percent from its IPO price. Fortune magazine labeled the donut maker "the hottest brand in the land."
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However, far from Wall Street, on Main Streets everywhere, the brand was suffering. The strategy of selling donuts anywhere and everywhere diluted the appeal of its core product. Piles of day-old donuts in grocery stores and gas stations meant Krispy Kreme became ubiquitous, diluting the "freshly made" appeal and neglecting the donut-making theater that had been part of the brand's novelty and mystique. At the same time, Krispy Kreme's uncontrolled focus on growth for growth's sake meant the market became rapidly oversaturated as new franchises were opened, often just a few blocks from each other. Although that distribution model enabled the firm to report continued growth, it undermined the franchising system by putting outlets in competition with each other. Adding to pressure on struggling franchisees, the firm required all outlets to buy supplies only from HQ at steeply marked-up prices.
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The cracks in the sugary glaze began to appear in mid-2004. Announcing its first-ever missed quarter and first low as a public company, Krispy Kreme's CEO assigned blame to the growing fad for the low-carb Atkins Diet, an explanation that raised eyebrows among investors."
Como não recordar: a culpa foi do preço.

Trecho retirado de "Pacing for Growth" de Alison Eyring.