Summary

Inculcating a contextual pricing approach cannot simply rely on the assumption that managers will recognize the market needs it and that the company will do better with contextual pricing. Resistance or indifference will be a powerful force. Resistance may take the form of endless meetings. As Verizon VP of business sales Deb Harris once urged: “Don’t hold meetings about how to get up from your desks!” Develop a strategy employing energetic champions to facilitate implementation. Do not fall prey to hazards in acquiring the right market information. With proven internal success, the program will experience less resistance.

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WHAT TO MAKE OF THE DATA?
CHOICE OF DATA ANALYSIS TECHNIQUES

Warren Buffett has a famous preference for making investment decisions based on first-hand experience. Some would call that “grandmother research.” Others might complain about sample size. Perhaps, but it works. Another notable individual, Leonardo da Vinci, once said, “All our knowledge has its origins in our perceptions.” And “Although nature commences with reason and ends in experience it is necessary for us to do the opposite, that is to commence with experience and from this to proceed to investigate the reason.”