Fish Rules Day 82
Quote of the day: “The MBA-ization of America is not that…uhh…great”
Sent out a video going over the new ProStaff feature. Check it out.
Had a great call with a state agency. We reviewed the base contract term and talked about how to get started with us.
Was on a call with ONESIXONE and Dr. Michael Morris talking about revenue models and pricing:
- Went over some basic revenue models for bowling ally’s, etc.
- Price is a statement of value, it’s more than just costs, it’s not just one decision
- Price is a creative variable -> a number on the value a customer gets
- Pricing and revenue model should be one of the most creative activities, internally you do
- Funny examples: Stock market price for the bar based on what is being bought. Bowling alley charging for how many pins are knocked down. Etc
- Cost-plus formulas are limiting, especially digitally. Value-based is preferred
- Identifying segments & using analytics is important for price-sensitivity
- Price Objectives -> Strategy -> Structure -> Levels -> Tactics
- Factors: Costs, demand/value (most important), competition, marketing, legal
- Pricing markers: Breakeven and varying levels of competitor pricing, perceived value, etc.
- Customers all have reference prices in mind, regardless if they’ve ever bought or seen a price for something like your product or not. When a customer is first introduced to your product’s pricing, they cognitively compare their reference price to reality and make a decision instantly.
- Penetration pricing / Parity Pricing / Premium Pricing
- Don’t compete solely on price
- “Find ways to lower price without lowering price”
- Not all customers need to pay the same thing for the same thing at the same time (ref. segments)
- Price is a signal but the value is what people buy
Troubleshot an issue in Maine where toggling from state -> federal waters shows federal waters but not the exact boundary. Turns out it’s a simple fix in fish management we have to change, no code needed.
Misc. bug fixes for both apps.
Played with Segment.io a little. Seems useful for us but for the amount of data we push, we can’t afford it yet….
This is an archived post, some things might not display right.