9. Failing to establish internal procedures to optimize prices. The hastily-called "price meeting" — a last-minute meeting to set the final price for a new product or service — has become a regular occurrence.
10. Spending a disproportionate amount of time serving your least profitable customers. Know your customers: 80 percent of a company's profits generally come from 20 percent of its customers. Failure to identify and focus on these 20 percent leave companies undefended against wily competitors.
Atenga, a privately-held company headquartered in Westlake Village, Calif., provides price training, targeted market research, and price optimization services to enable its clients to discover, document, and leverage their customers' perception of value in their marketplaces.
—Submitted by Guido Ebert