What's The SECRET To MASTERING Pricing Expertise?
Want to command higher prices and boost your profits? Join host NaRon Tillman on Walk in Victory for a deep dive into pricing power with renowned expert "The Price Whisperer."...
Want to command higher prices and boost your profits? Join host NaRon Tillman on Walk in Victory for a deep dive into pricing power with renowned expert "The Price Whisperer." What's The SECRET To MASTERING Pricing Expertise?
This episode explores Warren Buffett's concept of pricing power—the ability to raise prices without losing customers—and how it applies to various industries, from construction to luxury goods. The Price Whisperer reveals how psychology and perceived value influence effective pricing strategies. You'll learn the importance of identifying key differentiators, conducting thorough value research, and truly understanding your market (not just your customers). Discover why itemized billing can be detrimental and gain actionable insights to unlock your pricing power and drive business growth.
Key Takeaways:
- Understanding Warren Buffett's concept of pricing power and its importance.
- The influence of psychology and perceived value on pricing decisions.
- How to identify key differentiators and conduct effective value research.
- Why itemized billing can be counterproductive for certain businesses.
- Strategies for understanding your market and maximizing pricing power.
Timestamps:
- 00:00 Introduction to Pricing Power
- 00:39 Welcome to Walk in Victory
- 01:18 Personal Business Journey
- 06:56 Lessons from the Price Whisperer
- 13:51 Understanding Pricing Psychology
- 22:10 The Importance of Market Research
- 33:01 Final Thoughts and Recommendations
- 38:59 Closing Remarks
Want to be a guest on Walk In Victory? Send NaRon Tillman a message on PodMatch, here:
https://www.joinpodmatch.com/walkinvictory
Book Recomendations
- 'Crossing the Chasm' by Geoffrey Moore
- 'The Innovator's Dilemma' by Clayton Christensen
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Per
Sjofors
I'm the best-selling author of "The Price Whisperer - A Holistic Approach to Pricing Power" and a member and thought leader at the Forbes Business Council and the C-Suite Hero Club. I was recently identified as among the "The 10 Most Visionary Leaders Making a Difference in 2023" by Inc. Magazine and recently identified as among the "Top 50 Global Thought Leaders in Sales" by Thinkers360.
I appear regularly on podcasts and business radio (sometimes TV) shows and get quoted regularly in the press, including Forbes, Fortune Magazine, Inc. Magazine, Industry Week, Business Insider, and the Financial Times.
With about 750 client engagements, I teach executives how to look at their companies through the lens of "price." I provide intensely practical advice that often leads to a doubling of sales growth and 25% - 40% higher margins. Providing the growth resources to take a company to the next level. Before Sjofors & Partners, I worked for 35 years in executive management (mostly as CEO); I grew companies from inception to 8- and 9-figure revenue in four countries (US, UK, Switzerland, and Sweden) and organized Joint Venture firms in another three countries (Japan, Taiwan, and Korea), and done business in more than forty countries. More can be found on www.sjofors.com
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