Pricing Power: Making Pricing Profitable with Ayon Bhattacharyya

<p><strong>Ayon Bhattacharyya</strong> is the Founder of Biz Growth Spurt, a consulting firm based out of New Zealand. He has experienced pricing in half a dozen companies, and he's a passionate animal welfare advocate.</p> <p>In this episode, Ayon discusses pricing power as he enumerates its four different levels while talking about value-based pricing.</p> <p> </p> <p><strong>Why you have to check out today’s podcast:</strong></p> <ul> <li>Understand how pricing power relates to price elasticity</li> <li>Find out what Ayon’s four different levels of pricing power are all about</li> <li>Discover how Mark’s <em>will I? which one?</em> concept relates to these levels</li> </ul> <p> </p> <p align="center"><strong>“Think about your pricing power, and think about how – whether it's sort of competitive advantage, perceived value, all of those things – what can you do differently to improve your pricing power today.”</strong></p> <p align="center"><em>– Ayon Bhattacharyya</em></p> <p> </p> <p><strong>Topics Covered:</strong></p> <p>01:18 – How Ayon got into pricing</p> <p>02:33 – Defining value-based pricing and relating it to airline pricing</p> <p>05:57 – Pricing power vs. price elasticity</p> <p>09:50 – Ayon’s four different levels of pricing power</p> <p>13:33 – Describing the levels: (1) Cost chaser</p> <p>15:04 – Describing the levels: (2) Market pricer</p> <p>15:46 – Describing the levels: (3) Value conqueror</p> <p>18:16 – Doing behavioral economics at a cost chaser level</p> <p>19:09 – Applying Mark’s “<em>will I? which one?”</em> concept to Ayon’s levels of pricing power</p> <p>22:19 – Talking about value-based and fixed pricing</p> <p>25:26 – Ayon’s piece of pricing advice for the listeners</p> <p> </p> <p><strong>Key Takeaways:</strong></p> <p>“Pricing power is essentially your ability to charge a higher price without losing customers. Another way to say that is a company's ability to get the price it deserves for the value it delivers.” – <em>Ayon Bhattacharyya</em></p> <p>“A maturity suggests that you nee