THE UBER MODEL ...

Can Product Managers Be Too Clever When It Comes To Pricing?
By Dr. Jim Anderson

How much does your product cost? I'm willing to bet that you have a price sheet / guide somewhere that took a big effort to create. You probably had to study the market, study your customers, and study what the other guys were charging in order to come up with your prices as a part of your product development definition. Once you had done this, you then had to get a bunch of people to approve your prices. Whew - finally you were done, the prices were set in stone, and you moved on to other things. However, is this really the best way to price your product?

A Better Way To Price A Product - The Uber Model

So let's think about pricing for your product for just a moment. What would the best way to do this be? We all know about supply and demand. The more that customers want a product (think snow shovels when there is a big snowstorm forecasted), the more that they are willing to pay for it. Every product has a similar model. Your product is probably more desired by your potential customers at different times of the day, week, month, or year.

Given this knowledge that your product becomes more desirable at different times, shouldn't you be adjusting your price? Wouldn't you want to raise your prices when customer demand goes up and lower them when there is less customer demand? For that matter, what would your customers think about this? Get this right and you'll have something else to add to your product manager resume.

Uber is a relatively new service. They provide a free mobile application that anyone can download. In a big city, when you need a ride from one location to another, all you have to do is to use the mobile application to request a ride. When you reserve a ride, you pay using your mobile phone so there this no need to pay the driver. Very promptly a car will show up for you. You'll end up paying roughly 1.5x what you would pay for a standard taxi ride, but you don't have to hail a cab - your ride comes for you. Needless to say, Uber offers a product that is very popular with their customers.

Problems With The Uber Model

Now the thing about taxis is that although people may not like them that much, they at least know what they are getting when they get into one. Taxies have existed for so long that they have become highly regulated. This means that it is always going to cost the same amount to travel from point A to point B.

Uber's pricing doesn't work this way. Instead, during events such as a snowstorm or on New Year's Eve after midnight, Uber's prices go up. Sometimes significantly - 8x in some cases. As you can well imagine, Uber's customers are not pleased about this. Uber points out that they need to raise their prices to make it worthwhile for their drivers to be out on the streets in these adverse circumstances. They also make the point that if you have a problem with their price, then don't use the service.

From a product manager perspective, Uber has a publicity problem here. They are using supply and demand to offer dynamic pricing for their product. Customers are always going to complain when Uber prices shoot up. However, what the Uber product managers need to do is to start to educate their market. Sure, an Uber ride during a snowstorm might be very expensive; however, if somebody is using them to get a pregnant lady to the hospital during a snowstorm then the price might actually seem fair. Documenting stories like this and sharing them with potential customers will serve to balance the complaints the next time demand exceeds Uber's supply!

What All Of This Means For You

Pricing a product has always been a challenge for product managers. Price it too low and you are leaving money on the table. Price it too high and you won't be selling very many. All too often we have a habit of "setting and forgetting" our product's prices because they are too hard to update. Knowing how to set the right price for your product is a key part of your product manager job description.

Over at the mobile application developer Uber, they've come up with a better pricing model. The cost of a ride increases when there are fewer cars on the streets: during snowstorms, on New Year's Eve, etc. However, customers who are used to fixed prices tend to push back when they see the higher prices.

As product managers we want to maximize the amount of profit our company can get from our product. Incorporating dynamic pricing would be a great way to make this happen. However, we need to take the time to educate our customers so that they know what to expect.

Dr. Jim Anderson

"America's #1 Unforgettable Business Communication Skills Coach"

http://www.blueelephantconsulting.com/

Dr. Jim Anderson has been a product manger at small start-ups as well as at some of the world's largest IT shops. Dr. Anderson realizes that for a product to be successful, it takes an entire company working together. He'll share his insights and guidance on how to make your products a fantastic success.

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Article Source: http://EzineArticles.com/?expert=Dr._Jim_Anderson
http://EzineArticles.com/?Can-Product-Managers-Be-Too-Clever-When-It-Comes-To-Pricing?&id=8733743

Friday, May 22, 2015

How To Make An Uber Business Card That Stands Out
By [http://ezinearticles.com/?expert=Nap_Beltran]Nap Beltran

A lot of people think that traditional business cards have lost their value in terms of creating your personal brand as more and more people share information through online social networks like Facebook, Linked In and Twitter. But one is actually missing out on how you can actually use your social network credentials to come up with what I call an Uber Business Card.

There are a lot of websites where you can create business cards. One of the most popular is Moo where you can use your own design or choose from a varied set of designs. What is interesting about their service is that you can use a different design on each card. You can upload the photos or graphic designs you want to use very easily or even use the ones you already have on another social network site Flickr.

You then put all the important information like your Name, Your Job Position, Home Address, Email Address, Phone Number. Add as well the information where people can learn more about you online and these will include your social network credentials like your Facebook, Twitter and LinkedIn usernames.

Let us take it a little bit further by adding a QR Code on your business card. A QR code is almost like a barcode where you can store information that is readable by mobile phones enabled with QR readers, smart phones or any phones with cameras like an iPhone or an Android phone.

Most people would add their website address or the whole contact information so people who scans the QR code can easily add it into their mobile phones. But what would really make your business card an Uber Business Card that will surely stand out is to add a YouTube video link of yourself.

You must be familiar with YouTube and how popular it has become. Create a YouTube video that will help create your personal brand. If you think you do not have the skills to create a video. You can create a slideshow that shows a few photos of yourself and information that can best describe you. You can create one at Animoto where they made it very easy to create a slideshow that looks like a video presentation. You can then upload it to YouTube and finally you need to generate a QR code.

There are websites where you can easily create a QR code like Kaywa and Google. You just need to supply the URL or the website link of your YouTube video and presto you have a QR code. Download the QR code to your computer and upload it to Moo together with the photos or graphics you are going to use for your business cards.

The beauty of making cards on Moo is that ability to create a double sided card. Add the QR code at the back of the card together with your contact information. Remember to add a text that should tell people to scan the QR code.

Following the steps above. Check the QR code yourself make sure that it links to the right YouTube video. You can download a QR code reader from Kaywa or I-nigma and try it on your own mobile phone. Double check the contact information by proofreading it. Now you can order a box of business cards from Moo and you can even fast track it and get it in four business days.

The best part about this experience is waiting for the [http://www.fotopalooza.me/photography/business-card/]business cards to arrive. As soon as you receive it start handing out your impressive business cards and you will know that your business cards will be kept and not thrown away. Who would miss watching a video of someone who just handed out an Uber Business Card.

Explore more of Nap Beltran powerful Internet Marketing Tips on Photography. For more tips on how to help your business succeed online visit Fotopalooza.me/photography for specific "how-to's", along with more all-free lessons, advice and, photographer's forum, contributor's gallery and much more. It's a MUST-VISIT for photo enthusiasts!

Nap Beltran is an Online Media and PR Consultant who has traveled the world and loves photography. He has attended photo workshops [http://www.photoworldmanila.com] and seminars in Manila. He loves everything about social networking and is on Facebook, Twitter and Linkedin.

Article Source: [http://EzineArticles.com/?How-To-Make-An-Uber-Business-Card-That-Stands-Out&id=4945893] How To Make An Uber Business Card That Stands Out

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