Exposing the Power of Price Elasticity in B2B
Barrett Thompson Explains the Nature of Price Elasticity in B2B and How You Can Use It To Set Better Prices with Far Less Risk
Price elasticity has been a core aspect of consumer pricing for decades. But in business-to-business environments, this foundational pricing concept is not only incredibly underutilized, it's often misunderstood. In this conversation with Barrett Thompson, you will learn:
- The basic concept of price elasticity and how you can recognize that it's operating in your business right now.
- How price elasticity manifests differently in B2B and doesn't follow the traditional or textbook definitions.
- Why an understanding of price elasticity can significantly reduce the risks associated with price-setting in B2B.
- The basic process for measuring and calculating the price elasticities of the various segments in your business.
This interview is just one of hundreds of educational resources you get access to as a Marketing Ops Journal subscriber.
More Subscriber-Only Resources From Our Library
-
Rethinking How You Manage Your Marketing Assets
Managing thousands of marketing assets can quickly become an unmanageable marketing headache. But it doesn't have to be. In this guide, learn about protecting your brand and increasing effectiveness with digital asset management.
View This Guide -
Three Types of Buyers That Don't Buy on Price
Research says that 60-70% of buyers aren't price buyers---lower your price for them and you just give margin away. Learn how to identify the types of buyers where additional discounts won't help you win the business.
View This Diagnostic -
The Triangulated Competitive Audit Guide
The Triangulated Competitive Audit Guide provides an expanded reference list of the various types of questions you'll want to ask about your competitors and why.
View This Tool -
The Price Segmentation Self-Assessment
Simply answer the questions in this self-assessment (objectively) to gauge the likely quality, accuracy, and efficacy of your price segmentation model. You can assess overall quality, as well as pinpoint specific opportunities for improvement.
View This Tool
