Is It Time to Rethink Your Pricing Strategy?

Numerous studies have confirmed that pricing has a substantial and immediate effect on company profitability.  In fact, studies have shown that “small variations” in price can raise or lower profitability between 20 percent and 50 percent.

Yet, pricing remains one of the most neglected disciplines in most companies.  According to data from the Professional Pricing Society, fewer than 5 percent of Fortune 500 companies have a full-time function dedicated to pricing.  McKinsey & Company has estimated that fewer than 15 percent of com.....