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Mastering Pricing Strategies with Per Sjöfors | Josh Kosnick
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Welcome back to another episode of Spartan Leadership! In this episode, your host Josh Kosnick sits down with Per Sjöfors, also known as "The Price Whisperer," to delve deep into the intricacies of pricing strategies.
Timestamps:
0:00 - Intro and the Psychological Struggle of Increasing Prices
0:18 - Incremental Price Increases and Testing New Strategies
0:39 - Evaluating Sales Volume and Margins
0:58 - Welcoming Per Sjöfors: Background and Expertise
1:33 - Per’s Journey and the Importance of Pricing in Business
2:25 - Developing a Pricing Process
3:13 - The Impact of Company Actions on Pricing
4:40 - Importance of Pricing Research
6:28 - Common Pricing Mistakes
8:12 - The 1% Challenge and Its Impact on Profit
10:14 - The Psychology of Pricing
12:21 - Real-World Pricing Examples
14:14 - Changing Positioning to Increase Prices
16:05 - The Importance of Profit for Business Sustainability
18:01 - Willingness to Pay and Pricing Research
21:33 - Good, Better, Best Pricing Strategy
24:02 - The Role of AI and Big Data in Pricing
28:00 - The Perception of Value in Service-Based Businesses
30:29 - Using OKRs to Align Company Vision and Pricing
34:34 - Final Advice for Struggling Businesses
36:17 - Resources and Books for Pricing Strategies
42:30 - Unpopular Beliefs and Final Thoughts
About Our Guest: Per Sjöfors is a globally recognized expert in pricing strategies and the founder of Sjöfors & Partners. Known as "The Price Whisperer," Per has dedicated his career to helping companies optimize their pricing and boost profitability. Originally from Sweden and now based in Los Angeles, Per brings a wealth of knowledge and unique insights into the world of pricing.
Connect with Per Sjöfors:
- Website: sjoefors.com
- LinkedIn: Per Sjöfors
- Twitter: @PriceWhisperer
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