A ritual is a sequence of activities involving words, actions, or objects. An important purpose of rituals is to simplify a complex challenge and to provide orientation for action – although there is often no causal relationship between the ritual and the solution to the challenge. For example, dancing does not cause it to rain.
We find that many of the analyses performed in pricing today are a modern form of a rain dance. For example, regression-based price elasticity measurement almost always underestimates the actual price elasticity. It gets you in the mood for a price increase, but it cannot tell you what will happen and if it improves profits.
In this webinar, we go through the most common pricing tools, from price elasticity measurement to value pricing and show how poorly they often perform. So, in many ways, you might just as well do a price dance before a price increase.
Please join our webinar!