The Psychology of Pricing

ABSTRACT We often view pricing through too narrow a lens… a purely rational approach founded more in accounting than in client behaviour. A better understanding of client emotions and preferences can increase client satisfaction and profits.  I love pricing. It’s so multi-faceted. And there’s always that fabulous moment of truth in quoting / estimating work

Low price vs low cost – the strategic trap

As part of the emerging Newlaw dialogue, there is a groundswell of opinion that low prices and in particular, fixed low prices are the new must haves in law firm competition. But that’s only half the story… Some 30 years ago, Michael Porter’s generic competitive strategies were all the rage. Broadly speaking, you had to

Try Collaborating – It’s Easier than Competition

And no – I am not advocating anti-competitive / illegal behaviour…. I am surprised how many smaller firms live their professional lives as islands – knowing very little about other firms in their regions and simply assuming they are all competitors. Beneficial collaboration works – but particularly for specialists in plaintiff PI, family, and commercial