I know no one ever likes talking money but it’s crucial to always remain open and honest.
We at M and S combustion have a very clear ethic policy.
We believe that building a customer repour and relationship comes first, business second and financial matters last.
We used to find a dominant competitor and set our prices at a premium or discount to their price (in practice usually the latter). We are a new company in comparison, but what we do we do well (not sorry for the boosting😊). We fully understand the pricing metrics used by the alternatives (competitors or other options customers have) but have chosen a pricing metric that tracks value for the segment we are targeting. We are an independent incinerator company and not part of some big franchise business.
However recently, we’ve taken a different business approach. More a following approach. In some industries, there is a dominant input that has a big impact on value propositions. The price of oil is one example. As the price of oil goes down, the value of energy-saving technologies can also decline.
Companies buy for different reasons at different phases and our pricing strategy needs to reflect this. Again, holding onto our core ethical approach. Each project we undertake is from direct working with our clients.
In Our industry, yes, we are dependent upon the interest rate—pricing strategies for solutions for financial services companies. The price that makes sense in a low-interest-rate environment can be very different from what works in a high-interest rate environment. We are all aware of the predicted high- interest rates and increasing living costs.
But this post isn’t saying we are about to hike up our prices. In fact, the opposite.
Here at M and S Combustion, we know our brand represents -a premium brand, a customer service brand, and an innovative brand, and our pricing strategy aligns with our brand promise.
We at M and S Combustion are focused and will continue to be focused on each individual customer and their needs. We don’t supply a ‘one package fits all. Equally, we really do not hold to businesses that include Price discrimination (this is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different markets.) We believe that building a customer repour and relationship comes first, business second and financial matters last.