In this episode of the Pragmatic Product Chats series, product expert Mark Stiving joins host Rebecca Kalogeris to offer practical advice to help product professionals elevate their pricing strategies and deliver value for customers.
In this interview, Mark shares his extensive knowledge and unique perspective on how companies can leverage pricing as a powerful tool for business growth.
Key Takeaways:
Importance of Value in Pricing: Pricing is fundamentally about understanding and delivering value. It’s about how people perceive the value of products and making sure the pricing reflects that value.
Market Segmentation: Identifying and understanding different market segments and their unique problems enables companies to optimize their product pricing strategies.
Hierarchical Decision-Making: Companies can implement a “value decision hierarchy” to align their product offerings and pricing strategies to their market segments’ specific needs and values.
“What we always want to do is think about ‘how does our customer get value from our product?’ But if you think about, and go back to the market segmentation piece, you’ve got different customers with different problems. And they value the solutions differently”
– Mark Stiving, Pricing Expert
ABOUT OUR GUEST:
Mark Stiving is a seasoned pricing expert, marketing educator, and consultant with over 25 years of experience in helping companies optimize their pricing strategies to drive revenue and profits. Mark is the Chief Pricing Educator at Impact Pricing, where he focuses on empowering businesses to implement value-based pricing strategies effectively. He has worked with a wide range of industries, from SaaS to manufacturing, helping them understand customer value and set prices that reflect that value.
As a renowned speaker and author, Mark has penned the influential book, “Impact Pricing: Your Blueprint for Driving Profits,” and frequently contributes to various business publications. His insights have been instrumental in transforming the pricing approaches of numerous companies, making him a sought-after thought leader in the field. In addition to his professional pursuits, Mark is also a passionate educator who enjoys sharing his knowledge through workshops, webinars, and his popular podcast, Impact Pricing. His approachable style and deep expertise make complex pricing concepts accessible and actionable for businesses of all sizes.
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