Impact Pricing’s Mark Stiving on Product Pricing and Discount Strategies
Mark Stiving, chief pricing educator at Impact Pricing, joins Channelnomics’ Changing Channels host Larry Walsh to talk about pricing, discounting, and channel sales strategies.
No one wants to pay full price for anything. And people love winning. So it shouldn’t be a surprise that when it comes to the list price of products, people are always looking for a discount. They want to win a deal.
Through partners, manufacturers often offer significant discounts on their products to meet this negotiation demand and avoid losing a sale. The question arises: Why does a list price even exist?
It’s a question that Mark Stiving, chief pricing educator at the consulting firm Impact Pricing, relishes answering.
In this episode of Changing Channels, Stiving explains how a product with a discounted list price creates a unique set of benefits for manufacturers. It makes the product more desirable and gives end users the impression that the product is of a higher value. Even so, it can be difficult for manufacturers to determine exactly how to price their products when they must consider the needs and desires of both distributors and end users.
Stiving joins Channelnomics’ Changing Channels host Larry Walsh to discuss why the concept of a list price persists and what manufacturers can do to best determine their ultimate selling price.