Episode #499: Pricing Puzzles and Pitfalls

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SHOW SUMMARY: Join Ed and Ron as they delve into the complexities of modern pricing strategies and their impacts on consumers and brands. We’ll explore the supposed frustration consumers face with the rise of add-on fees and personalized pricing. From airline baggage fees to layered subscription costs, hidden charges make it increasingly difficult for buyers to navigate the marketplace without feeling nickel and dimed. Also, is price-led profit growth coming to an end? Is inflation and recession fear signaling a shift away from growing margins from more sophisticated pricing? Finally, are luxury brands underpricing? Despite their premium positioning, some luxury brands might not be charging enough to reflect their true value and maintain their exclusivity. We’ll discuss the 4Es of pricing high-end brands, and how we can apply that framework to professional firms. Join us as we unravel these topics and discuss how consumers and businesses can navigate the complex world of modern pricing.

SHOW NOTES

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  • If you plan to go to the AICPA digital conference in Denver this year you can get a preferred price of $100 off If you type in the code DCPA100 upon checkout. Ed and Ron will BOTH be there. https://www.cpa.com/digital-cpa  

  • We have a preferred price for Ed’s upcoming event in Dallas with Hector Garcia. Use code FOE900 at this link: https://reframe.shoprocket.io/#!/2-day-event-in-dallas-tx-aug-5-6 @qbkaccounting

  • What’s really wrong with the Starbucks customer experience today? Joe Pine nails it with, “Mobile ordering places you and your in-house order in an invisible queue of indeterminate and sometimes seemingly interminable length.” https://hbr.org/2024/06/how-starbucks-devalued-its-own-brand @joepine

  • Regarding a coffee shop idea, “Throw in the coffee for free and it subsumes the the actual product into the experience.” —Ron Baker

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Bonus Content is Available As Well

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