Louis Olivieri

Marketing Specialist

Louis Olivieri is a marketing specialist having practiced the profession in Malta since 1988. Louis was responsible for launching and developing a number of internationally known brand names, growing them to become leaders on the Maltese market. At the same time, he developed marketing departments and staff. In 2006, he ventured into his private practice as a marketing and business development consultant. Since then, he has worked for a number of organisations in different market sectors. Louis is a Business Management graduate and a Chartered Marketer. In parallel to his private practice, he takes various initiatives to give a contribution to the development of the marketing profession. Among others, Louis set up The Chartered Institute of Marketing Malta Branch, launching it in 2009 and chairing it until 2015. He also Chairs the Marketing Committee within the Malta Chamber of Commerce, Enterprise and Industry.

The Importance of Value Pricing

Saturday 01st April 2017

Pricing is always an important consideration in business, especially in an environment of cut-throat competition, when we think that the market is saturated and that customers look for nothing else but price. But are we sure that this is the reality?

When pricing a product or a service, every business seeks to make a profit. Very commonly, businesses take a financial approach towards pricing by establishing the cost of the product or service and adding a mark up. With this approach, when the product or service is exposed to the general market, most businesses put themselves at the mercy of how clients and consumers react to determine success or failure. Taking a different approach can give businesses some control over driving success by knowing and understanding the market they are in and the segments to which the products and services are targeted to. This is the move from a selling approach to a marketing approach. Most products which are successful and which make an impact on the market are demand-driven, and what creates the demand is the value which consumers give to the products and service they choose to buy and make use of.

So, the next question is how to determine the value which customers give or perceive towards what businesses are offering. A good part of the answer lies in the quality and how much businesses believe that the product is of value to customers. Another part of the answer is the relationship that is built with the customer, and this is the context in which ‘the customer is king’ and that ‘the customer is always right’. The customer decides whether to buy products, what services to make use of and what value they give towards having them. Businesses which take pride in satisfying customers and work on customer engagement create value towards what they do.

For example, when do participants give value to paying a price for attending a conference other than attending one of many other opportunities which are free? Some answers lie in when participants feel that they will learn something, get first hand insight into new concepts and trends from high-profile speakers or get motivation from an energizing keynote/s and enjoy good networking opportunities. Even if participants may not always pay from their own pocket, employers may see some of these as opportunities for training and developing their teams. Companies can also see good quality events as opportunities for sponsorship, creating a win-win situation both for them and the event organizers. Knowing the organisers and the passion they have towards what they do is also an element which creates engagement and a good relationship with the customer.

Another outward approach which organisations can consider before pricing their products or services is, rather than just identifying their competitive advantage, focusing on the advantages which they can give customers. An example is that a restaurant offering a warm, friendly ambience and easy parking facilities can develop a gourmet menu for which patrons would be willing to pay because they give value to the quality food and the other advantages they are offered by going there. Also, customers give value and hence are willing to pay a premium, when there is compatibility between the image that the product has on the market, with the lifestyle of the user.

Miriam Sultana

Head of Economics Advisory, PKF Malta

Venture Capital – Not Just A Cinderella Story For Start-Ups

March 2018

The concept of venture capital has proven to be one of the most successful financing concepts in the United States, much to the envy of the rest of the world.

Daniel Bugeja

Business Doctor

The Importance of Good Succession Planning for Business Survival

March 2018

How dependent on you is your business? Would it operate as efficiently without your constant presence?

Rebecca Agius

Business Analyst, BEAT

Getting things done, the best way possible

February 2018

An organisation is built on the three pillars of people, technology and process.

Daniel Bugeja

Business Doctor

Three Key Factors To Successful Strategic Planning

February 2018

Strategic planning is an essential dogma for successful businesses. However, simply creating a great plan does not mean that it will be a lucrative one, especially when it comes to putting it into action.

Daniel Debono

EU affairs manager, Head of Brussels operations, Malta Business Bureau

Putting Education Back On The EU's Agenda

February 2018

The European Commission has published a new education package comprising of three proposals that seek to improve European citizens’ skills.

George Mangion

Senior Partner, PKF Malta

PKF Invites Members To Visit The CIC Thought Leadership Centre In Rotterdam

February 2018

PKF has the pleasure and privilege of inviting interested persons to visit the Cambridge Innovation Center (CIC) Thought Leadership centre in Rotterdam, the Netherlands.