Pricing Strategies for Uncertain Times

HBR IdeaCast

• Episode: Pricing Strategies for Uncertain Times
• Website: HBR IdeaCast
• Feed URL: http://feeds.harvardbusiness.org/harvardbusiness/ideacast
• Duration: 00:21:15
• Published: 2020-07-07 16:00

Rafi Mohammed, founder of the consulting firm Culture of Profit, says a crisis or recession is not the time to panic and slash prices. He says leaders should instead reevaluate their price strategy — or develop one for the first time — to better respond to customers during the slump and keep them when the economy recovers. He shares examples of companies across a variety of industries that have created effective price strategies as well as his advice for changing prices in response to Covid-19. Mohammed is the author of “The 1% Windfall: How Successful Companies Use Price to Profit and Grow.”