In the marketing profession, we have depended on the Four Ps as foundational to business success. But is that still relevant today? Tune in and learn why Rick Spear says ignoring the Four Ps is like ignoring the alphabet. In this episode, we discuss how pricing, above other strategies, has become the secret weapon for marketers in managing through these uncertain waters of inflation, recession, and constant change. But to wing it or make guesses benefits no one. Pricing is the top strategy to gain—or regain—value. Find out why Rick says that the critical question we need to keep asking is: “What will it take to earn 1 point of market share?” HINT: A few key insights can trump terabytes of data.
Three Takeaways
- Pricing drives the top line and go to market strategies and value what pricing impacts and affects the most, how I gain or retain value.
- We should be asking ourselves as marketers and as business strategists what drives our ability to win one point of market share.
- A few key insights can triumph terabytes of data in some circumstances. AI and machine learning can be extremely helpful in real time pricing but cannot replace insights in the market.
About our Guest
Rick Spear is a senior executive in the capital markets industry who has spent 50% of his career helping to run firms and 50% as a strategic advisor/consultant to CEOs, boards and heads of businesses. As head of strategy, he has helped to architect and manages multi-year growth plans, targeting and growing revenue and profit by sizing markets and performing competitive analysis He has worked with every functional head across multiple companies, including the CEO, COO, CFO, Chief Product Officer, Chief Technology Officer, Head of Middle/Back Office, General Counsel and Chief Risk Officer. His education includes Stanford University and Harvard. He is currently, Senior Advisor at Simon-Kucher & Partners, a global strategy consulting firm focused on growth strategy, marketing, pricing, and sales.
Meet the Hosts
Cyndi W. Greenglass is a founding partner and president at Livingston Strategies, a data-informed, strategic consulting firm that helps clients develop, execute, and measure their customer communications with a close focus on results. Cyndi has razor-sharp strategic skills matched by impeccable on-the-ground savvy and tactical abilities. She is an Adjunct Instructor in the Data Marketing Communications online master's degree program from West Virginia University.
Greenglass has twice been named into the Top 100 Influential BTB Marketers by Crain’s BtoB Magazine and was the 2012 CADM Chicago Direct Marketer of the Year. She is a member of the Board of Advisors for BRAND United and has taught, trained and presented at over 50 conferences throughout the world.
Ruth P. Stevens consults on customer acquisition and retention, for business-to-business clients. Ruth serves on the boards of directors of the HIMMS Media Group, and the Business Information Industry Association. She is a trustee of Princeton-In-Asia, past chair of the Business-to-Business Council of the DMA, and past president of the Direct Marketing Club of New York.
Ruth was named one of the 100 Most Influential People in Business Marketing by Crain’s BtoB magazine, and one of 20 Women to Watch by the Sales Lead Management Association. She serves as a mentor to fledgling companies at the ERA business accelerator in New York City.
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