Breaking BizDev
What does "business development" mean anyways?
On Breaking BizDev, John Tyreman and Mark Wainwright break down, beat up, and redefine that nebulous term 'business development' for the modern professional services firm.
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Breaking BizDev
Pricing and Choice Architecture: Help Buyers Make Good Decisions
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Pricing is a major lever for revenue and growth, but most business development professionals are not involved in setting price. In most firms, there are a three main approaches to pricing services:
- Cost-plus
- Market-based
- Value-based
In this episode, John and Mark beat up pricing and offer a new perspective to help you guide buyers to making the right decision. You'll hear them discuss:
- Why it's important to have pricing discussions early in sales process
- How value pricing presents relieves downward price pressure
- Elements of good pricing strategy: positioning, sequencing presentations, understanding needs, negotiating win-win
- How to guide customers through options with choice architecture
- An overview of common cognitive biases impact pricing
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