Impact Pricing

This is an Impact Pricing Blog published on June 6, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/price-segmentation-in-action-why-geography-matters-for-your-wallet/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Mac Kremer leads the pricing strategy practice at K1 Investment Management. He is experienced in B2B SaaS investing and value creation work. In this episode, Mac shares strategies for growing SaaS businesses through price increases, upsells, cross-sells, and increased usage. It discusses the complexities of implementing pricing systems and emphasizes the importance of flexibility and understanding your pricing model. Additionally, it highlights the need to educate sales teams on value-based selling to reduce discounting and improve sales effectiveness. Why you have to check out today’s podcast: "Sit down with whoever's responsible for pricing, decide to set up a committee and a cadence and just start talking about it more and more." - Mac Kremer Topics Covered: 01:35 - How Mac found himself in pricing 02:42 - Describing his role at a private equity firm as both an advisor and consultant 03:38 - Discussing the importance of customer conversations in understanding value propositions 05:47 - Explaining that value can also include benefits beyond profit 07:28 - Similarities and differences between B2B and B2C purchasing decisions 08:49 - Using ROI calculators and the ability of sales reps to contextualize ROI within the business's specific goals 09:56 - How ownership of pricing in a company depends on its stage of development 14:01 - Importance of forecasting and budgeting for pricing activities 16:00 - Understanding the sources of revenue growth highlighting the four ways to grow a customer: Win, Keep, Grow 19:49 - What to focus on when it comes to net revenue retention 21:35 - Variety of pricing systems used and how it depends on the complexity of pricing models used 23:55 - The complexities of implementing and managing pricing systems as companies grow 25:57 - Helping salespeople understand and communicate value 29:06 - Mac's best pricing advice Key Takeaways: "Customer conversations are so critical to understanding the value proposition of your solution, and where you kind of see your customer's perceiving value before you even start to talk about price." - Mac Kremer "The best place to start when you're having customer conversations is, you can go in and you can kind of engineer the true value calculator, the EVC, the economic value to the customer. But I think it's also just understanding their perception of the value that they're receiving. Because I think value comes in a lot of different forms, even outside of just profit." - Mac Kremer "A lot depends on the complexity of your pricing model when you go to think about what system we should be using?" - Mac Kremer People/Resources Mentioned: https://www.maxio.comhttps://www.chargebee.comhttps://www.gainsight.com https://www.netsuite.com/portal/home.shtmlSalesforce:https://www.salesforce.comhttps://www.tableau.com Connect with Mac Kremer: LinkedIn: https://www.linkedin.com/in/mac-kremer/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on May 30, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-price-is-never-right/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

With 10+ years in strategic data-marketing, digital, AI and management consulting across sectors like automotive, travel, pharma, and BPO, Fabien Cros has been recognized for his knack to develop and deploy impactful, data-driven solutions. His expertise spans data consulting, AI solutions, UX, marketing analytics, and more. In this episode, Fabien shares successful case studies, such as Patagonia and Decathlon, demonstrating how companies can transition to more sustainable business models and achieve higher profitability. Also, learn practical advice and strategies that can be directly applied to a company's business operations, helping make informed decisions and drive impact. Why you have to check out today’s podcast: "Go in depth, over-segment your market because you need to understand this new trend emerging around sustainability. Because it's a major untapped market for a lot of brands and companies." - Fabien Cros Topics Covered: 01:52 - How he got into pricing 03:43 - Introducing the concept of integrating pricing strategies with sustainability goals 10:25 - Discussing the challenges and benefits of integrating sustainability into pricing strategies 14:23 - Delving deeper into the concept of sustainability in pricing -- that sustainability is more than just a feature; it's a fundamental shift in business practices 18:30 - Acknowledging challenges integrating sustainability in pricing but also highlighting growing consumer awareness and regulatory pressures around sustainability 22:46 - The potential for sustainability as a competitive advantage in pricing strategies 27:21 - Examples of large companies successfully integrating sustainable practices 30:23 - Fabien's best pricing advice Key Takeaways: "What we say with Pricing for the Planet is, move to what we call 21st century concept which is value-based pricing. That way you can create additional revenue and additional profits. That way you can invest into sustainability." - Fabien Cros "The data is showing us that you have a subset of the population. They're so passionate and they're so convinced that it's crucial that you cannot forget this market and this market segment could actually fuel a lot of the money and a lot of the financial need that is required to move to a more sustainable business model." - Fabien Cros “We are trying to convey this message that sustainability could be viewed as a feature for the end users, but it's a new way of doing business.” - Fabien Cros People/Resources Mentioned: https://www.accenture.com/ https://impactpricing.com/podcast/582-segmentation-strategies-uncovered-driving-revenue-through-focus-and-value-with-stephan-liozu/https://www.se.com/ww/en/https://www.patagonia.com/home/https://us.rewair.drmartens.com/https://www.bcg.comhttps://www.michelinman.comhttps://www.decathlon.com Connect with Fabien Cros: https://www.linkedin.com/in/fabien-cros-3b66a332/https://www.pricingfortheplanet.com/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on May 23, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/how-value-based-selling-marketing-work-together-to-drive-increased-profitability/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Dr. Thomas (Tom) Nagle founded the Strategic Pricing Group (now part of Monitor Deloitte) in 1987 soon after publication of the first edition of The Strategy and Tactics of Pricing. For more than three decades, he has advised companies, primarily in B-to-B markets, on how to manage more profitably the five elements of pricing strategy: Value Creation, Value Communication, Price Structure, Pricing Policy, and Competitive Price Setting. In this episode, Tom shares how value is perceived and measured by customers, emphasizing the distinction between economic value and willingness to pay. He also delves into the complexities of pricing negotiations, highlighting the importance of understanding customer perceptions and effectively communicating the impact of products or services on their business outcomes. Why you have to check out today’s podcast: "Don't ever believe what the customer is telling you upfront about what their value is. They may believe it, but they don't know the impact." - Tom Nagle Topics Covered: 01:29 - His early experiences with pricing influenced by his grandmother and how he got into pricing professionally 03:16 - How it is more effective to focus on market response to price changes and gather qualitative insights from clients than just precisely measuring elasticity 08:49 - Important thoughts on why pricing didn't matter much then before its deregulation 11:28 - Explaining the concepts of value and value-based pricing with an example illustrating the point 16:56 - The need to create policies to maintain price integrity and managing negotiations to prevent undermining value capture 23:25 - Discussing the concept of value-based pricing and sharing an insightful example where a service's value was evaluated against the status quo rather than a competitor 26:16 - Tom's best pricing advice Key Takeaways: "The goal is not to try to put a line between them that's a weighted average of the high prices and the low prices, and call it a demand curve. The goal is to figure out why we have all this variation and use that variation to create segments that eliminate the trade off between price and volume." - Tom Nagle "The value isn't in the product. You can study the product from now until kingdom come, and you are never going to understand the value by studying the product. You have to study how the products' benefits impact the customer's income statement." - Tom Nagle People/Resources Mentioned: https://sloanreview.mit.edu/article/financial-analysis-for-profitdriven-pricing/https://www.walmart.comhttps://www.dupont.com http://asq.org/quality-resources/malcolm-baldrige-national-quality-award Connect with Tom Nagle: https://www.linkedin.com/in/thomas-tom-nagle Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on May 16, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/roi-calculators-busting-myths-and-building-trust-in-b2b-sales/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Jason Covitz, the Vice President of Commercial Finance at Covetrus, possesses a wide range of expertise including CFO, Business Growth, Value-Based Pricing, Sales Effectiveness, and Product Management, among others. In this episode, Jason shares competitive pricing strategies, emphasizing the importance of understanding both inherent and relative value when comparing products to competitors. He shares practical methods for gathering competitive pricing intelligence and highlights the need for combining analytical and creative thinking in pricing. Why you have to check out today’s podcast: "Keep digging. Get your teams comfortable with learning. Be inquisitive, poke around, turn on the lights, and hopefully you find large piles of money." - Jason Covitz Topics Covered: 02:11 - What led Jason into pricing 03:17 - Discussing how analytics at Capital One included evaluating factors like the cost of repossessing a car and its post-repossession value 05:01 - Explaining the difference between a private equity (PE) owned company and a public company 07:32 - Advocating for a detailed feature-level competitor comparison 10:45 - Think about ROI conversation 11:45 - The challenge of determining competitor pricing for value-based pricing 16:16 - Discussing strategies for competitive pricing and understanding relative value 20:50 - Important thoughts on the use of conjoint analysis in B2B versus B2C contexts 22:40 - Talking about the blend of skills required in pricing, noting that it's not about pure numbers 23:44 - Jason's best pricing advice Key Takeaways: "Competitive intelligence from pricing --- people are like, well, I'm just going to ask them what the number is. Well, the number by itself doesn't stand alone; you got to bring the whole story to the conversation in that case." - Jason Covitz People/Resources Mentioned: https://www.capitalone.comhttps://www.first-datacorp.comhttps://covetrus.com/ Connect with Jason Covitz: https://www.linkedin.com/in/jcovitz/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on May 8, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/simplifying-segmentation-for-enhanced-profitability/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

With over 25 years of experience in pricing strategy, analytics, and customer relationship management, Adrienne Gordon is passionate about empowering businesses to leverage pricing as a long-term strategic advantage and a path to self-actualization. In this episode, Adrienne delves into the profound impact of CEO decisions on overall company pricing. She explores the concept of 'value killers' such as the 'Bob Factor', the 'Lester Factor,' and ‘Cheryl factor’ illustrating how individual actions and outdated models can undermine pricing policies. Additionally, she discusses the importance of setting clear pricing goals, understanding price distribution and variance, and leveraging pricing processes to maximize profitability. Why you have to check out today’s podcast: "If you look at pricing as a process, you will self-actualize as a company." - Adrienne Gordon Topics Covered: 00:51 - How she found herself in pricing 02:26 - How her role in product management helped her develop valuable skills in product segmentation and customer insights 03:55 - Differentiating these two companies she manages, Pricing Empowered and Price Space 06:36 - The role of leadership, specifically CEOs, in pricing strategy 09:09 - Explaining the concept of "value killers" using the metaphor of "Bob" 11:40 - The negative impact of allowing CEOs to negotiate prices and discussing the concept of parameters of empowerment 14:29 - Another value killer: The Lester factor 16:55 - What makes ‘'Cheryl factor' a value killer and the extent of profit leaks this causes 20:15 - Three key actions leaders should take to drive pricing in their companies 24:19 - Differentiating between intentional and unintentional price variance 25:14 - Adrienne's best pricing advice Key Takeaways: “If the CEO doesn't believe that you can proactively price and influence markets with your pricing, then the company has no faith in it either.” - Adrienne Gordon "Parameters of empowerment: to me sometimes actually retracting some permission and then testing your value proposition, pushing pricing a little bit so that the organization can see the worth doesn't fall apart when you do that. And releasing that empowerment back, I think, actually, can help companies evolve." - Adrienne Gordon "I often make recommendations, do not put on your parameters of empowerment 5, 10, and 15. Put on 4.72. Somebody's going to have to do the hard work to figure out what 4.72% discount is. And that's a good thing." - Adrienne Gordon People/Resources Mentioned: McKinsey: https://www.mckinsey.com Connect with Adrienne Gordon: https://www.linkedin.com/in/adrienne-gordon-0a93129/https://www.pricespace.com/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on May 2, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/reduce-the-risk-of-raising-prices/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Tim Smith helps executives address critical questions in pricing, marketing, sales, and corporate strategy in the face of high uncertainty by using proven best practices informed by solid academic research. In this episode, Tim delves into the Pricing Spineometer, a comprehensive tool designed to assess a company's pricing capabilities. By examining financial performance and organizational structure, one can provide valuable insights into the gap between a company's current pricing practices and optimal strategies. He also touches on the crucial role pricing plays in business success and the importance of CEO involvement in driving pricing excellence. Why you have to check out today’s podcast: "Take the time to apply the expertise necessary to your pricing questions. Think about it, and then listen to that expertise." - Tim Smith Topics Covered: 01:36 - Sharing an enriching experience teaching and consulting 02:45 - How he found himself in pricing 04:08 - What made him create Pricing Spineometer, what is it all about, clarity on it measuring a gap versus a scorecard 07:31 - The process of using the Pricing Spineometer 11:40 - How the initial financial analysis sets the foundation for understanding a company's pricing needs and capabilities 14:29 - Understanding that creating a Pricing Spineometer for a company involves significant work and expertise 16:26 - AI's impact on pricing and the companies' various reactions on their pricing capabilities assessment with pricing spineometer 19:16 - Valued for the expertise and insight not on time spent 20:08 - Surprises coming up for different companies pricing sophistication 22:19 - Does the CEO takes care of the development of pricing expertise and how does a CRO differ from a VP of Pricing 24:26 - Tim's best pricing advice Key Takeaways: "If you changed the way you thought about pricing, there'd be a huge bottom line impact to your company." - Tim Smith "You're charging for the intellect that goes into the work, not the actual amount of time it takes to do the work." - Tim Smith "There are ways to get around tools, there are ways to use the tools, but you’ve got to understand what the goal is." - Tim Smith People/Resources Mentioned: http://www.pricingsolutions.com/world-class-pricing-the-journey/https://www.ti.comhttps://www.walmart.comhttps://www.coca-cola.com/us/enhttps://www.pepsi.com/https://www.nvidia.com/en-us/https://www.kraftheinzcompany.com/ Connect with Tim Smith: https://www.linkedin.com/in/drwiglaf/https://wiglafpricing.com/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on April 25, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/the-value-of-a-feature-how-to-create-value-tables/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Patrick Meegan is a Managing Director at Investor Group Services. Experienced in technology, industrials, consumer products, retail and e-commerce, subscription programs, pricing, and product strategy. In this episode, he delves into the complexities of pricing strategies, emphasizing the importance of aligning prices with the perceived value and understanding market segments. She also explores the nuances between B2C and B2B pricing, highlighting the transparency in B2C and the significance of marketing and packaging in consumer products. Additionally, she provides insights on implementing price changes effectively in different organizational sizes and navigating the challenges of setting prices through distribution channels. Why you have to check out today’s podcast: "Spend time pressure testing the ideas." - Patrick Meegan Topics Covered: 01:51 - The best way to teaching case studies and the how to go about each case 02:49 - How he ended up in pricing despite lack of pricing background 03:59 - Value-based pricing and understanding buyer behavior 05:03 - The process of generating pricing insights 06:39 - Application of a framework to generate pricing insights 08:57 - Challenges and strategies for executing pricing changes, particularly in larger organizations 11:17 - Overcoming fear of raising prices. 13:08 - Strategies for reducing fear and uncertainty when implementing price increases 15:42 - The appropriate role of salespeople in pricing decisions 17:32 - The importance of setting and managing price floors and discounting policies for salespeople 21:34 - Maintaining pricing integrity and avoiding discounts 22:46 - The differences between B2C and B2B pricing strategies and how crucial is setting the end user price first when selling through distribution or channels 26:46 - Pat's best pricing advice Key Takeaways: "If we can't understand from the buyer's side what's driving their purchase, then it's hard for us to understand how to sell to them, how to negotiate, where to hang the value, how to package and how to structure the pricing model." - Patrick Meegan "I cringe so much when I see people going out with a price of whatever it is with a discount right along with it because whatever value established you just eroded by saying it wasn't worth that." - Patrick Meegan "Your portfolio also plays an important role in how you can influence pricing." - Patrick Meegan People/Resources Mentioned: https://www.kimberly-clark.com/en-ushttps://www.kleenex.com/en-us/https://www.huggies.com/en-us/ Connect with Patrick Meegan: https://www.linkedin.com/in/patrickmeegan/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on April 18, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/b2b-market-research-is-overrated/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Steven Forth is Ibbaka’s Co-Founder, CEO, and Partner. Ibbaka is a strategic pricing advisory firm. He was CEO of LeveragePoint Innovations Inc., a SaaS business. In this episode, Steven explains how AI can significantly enhance software customization and pricing, enabling more precise value delivery for each customer. He emphasizes that while AI introduces new capabilities, it does not fundamentally change the core principles of pricing. Why you have to check out today’s podcast: "Before they invest a lot of time and effort in developing or pricing their own AI, find out what their customers are already doing and how they're thinking about the problems." - Steven Forth Topics Covered: 00:47 - Skepticism as well as optimism regarding AI and addressing the hype surrounding AI 04:15 - Exploring how AI might impact software pricing compared to the changes brought about by cloud-based SaaS. 07:05 - The way AI can optimize software configurations and pricing based on individual value drivers for each customer 10:44 - Discussing how SaaS fundamentally changed software pricing compared to AI 14:11 - How AI, while it enhances capabilities and user experiences, does not fundamentally change the underlying principles of pricing 16:31 - What is a value model? 18:15 - Pricing being tied more closely to value with the rise of AI 23:27 - Steven's best pricing advice Key Takeaways: "The underlying ways that we think about pricing have not changed because of generative AI and will not change, but some of them we’ll be able to execute on much, much more effectively." - Steven Forth "I think of pricing not as being something that is data-driven, but something that is model-driven." - Steven Forth "AI is changing how we build, deliver, and experience the functionality that software and data can bring. But as it does that, it also opens new ways for us to think about the pricing of the applications and the data." - Steven Forth People/Resources Mentioned: https://pros.comhttps://www.microsoft.com/en-ph/Donhttps://www.nngroup.com/people/don-norman/https://www.nngroup.com/people/don-norman/https://www.totogi.comhttps://www.mckinsey.comhttps://www.linkedin.com/in/thomas-tom-nagle-2bb2288/https://zilliant.comhttps://www.pricefx.comhttps://www.vendavo.comhttps://www.linkedin.com/in/tomasztunguz/ Connect with Steven Forth: https://www.linkedin.com/in/stevenforth/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on April 11, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/value-for-buyer-personas/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

As a consultant, coach, and 6-time executive, Amanda Northcutt has launched, grown, and scaled online businesses with fantastic results on both the individual and organizational level, while creating extraordinary, frictionless, and successful journeys for their customers. In this episode, Amanda delves on the importance of focusing on customer retention and expansion to maximize recurring revenue. And leveraging foundational desires and social proof to enhance one's marketing efforts. She also highlights the value of dynamic and continuous pricing strategies and the need for personalized connections in sales and the impact of showing proven value to customers. Why you have to check out today’s podcast: "Always be testing your pricing. Your pricing should not be static. That is such a rookie mistake to think that you've nailed it the first time, or at any time really." - Amanda Northcutt Topics Covered: 01:39 - An accidental entry into recurring revenue 03:20 - Talking about the time of Salesforce' rise in the SaaS industry 04:46 - Sharing her journey into the subscription-based business model 05:57 - The challenges and importance of marketing and delivering value in subscription-based businesses 08:25 - An added challenge for SaaS businesses of needing a product that continuously delivers value to retain customers 10:46 - The need to create expansion opportunities with tailored solutions and the need to leverage social proof to strengthen the value proposition to potential and existing customers 13:31 - Understanding and leveraging consumer psychology and desires to drive value perception and retention in both B2B and B2C contexts. 15:46 - Expanding on customer's foundational desires as effective marketing strategies 17:21 - Helping customers achieve their goals and meet their needs rather than simply trying to make a sale. 20:06 - Describing her current work and her pricing approach for her clients' customers. 25:52 - Amanda's best pricing advice 26:57 - What it means to be always testing your pricing Key Takeaways: "...the whole deal with recurring revenue: If your marketing sucks, one, people aren't going to sign up. Two, if you're not delivering value over and over and over and over and over again, people are going to churn." - Amanda Northcutt "If you truly actually care about someone and you want to help match them with a solution that is actually going to help them not only reach their foundational desires, but the real business needs that they have, that's where the most sales are going to be made." - Amanda Northcutt "Desperation is the enemy of all sales, ever." - Amanda Northcutt "Another element of closing the deal in an automated sales funnel is that guarantee is very, very, very important. It's right up there with social proof." - Amanda Northcutt People/Resources Mentioned: https://www.tamu.edu/https://texags.comhttps://en.wikipedia.org/wiki/Marc_Benioffhttps://www.salesforce.com/ap/https://alanweiss.com/about-alan-weiss/https://convertkit.com https://www.activecampaign.com/ https://www.primevideo.com/ Connect with Amanda Northcutt: https://www.linkedin.com/in/northcuttamanda/ Connect with Mark Stiving: https://www.linkedin.com/in/stiving/

This is an Impact Pricing Blog published on April 4, 2024, turned into an audio podcast so you can listen on the go. Read Full Article Here: https://impactpricing.com/blog/discover-our-custom-pricing-gpt/ If you have any feedback, definitely send it. You can reach us at mark@impactpricing.com. Now, go make an impact. Connect with Mark Stiving: mark@impactpricing.comhttps://www.linkedin.com/in/stiving/

Sundar Ramanathan is a Banking Product and Pricing Executive with experience in exceeding/meeting growth, capital, liquidity, and profitability objectives through product and pricing levers. In this episode, Sundar emphasizes the importance of moving beyond product commoditization, instead, focusing on creating value through customer experiences, and pricing as the outcome of value creation. Why you have to check out today’s podcast: "On the retail banking side, we hear commoditization a lot. But I think there is an opportunity to go beyond that. I think products disappear and experiences emerge, and experience is what creates value. And value can be priced." - Sundar Ramanathan Topics Covered: 01:36 - How he found himself in pricing 02:47 - Talking about examples of banking products 04:39 - Is bank's pricing based on value or cost 09:15 - The importance of balancing cost and value and highlighting the indifference curve in pricing 11:55 - Determining the area of indifference in banking pricing 16:06 - How to let borrowers decide in your favor over your competitors 19:37 - Where you create value pricing in banking products 22:06 - Sundar's best pricing advice Key Takeaways: "The product structure and pricing might be commoditized, but where you create the value and enhance your pricing margin is the experience." - Sundar Ramanathan "You will never know the right pricing unless you are bold enough to make those decisions to test that elasticity and have a plan B." - Sundar Ramanathan "You can only create value by removing the friction as much as possible compared to competition.” - Sundar Ramanathan "You can never win by pricing." - Sundar Ramanathan Connect with Sundar Ramanathan: LinkedIn: https://www.linkedin.com/in/sundar Connect with Mark Stiving: https://www.linkedin.com/in/stiving/