Pricing is very much a strategists playground, a big canvas upon which you can plot grand moves. Backed up with pricing performance analytics and customer profitability strategies of course. Such data. Many graphs. So Wow… (to quote my teenager)
At the end of the day, we’re not going to see a return on any of that investment unless we find a way to change pricing processes and behaviors. So before we get too far down the line, lets make sure we’re grounded in reality…
How does your organization REALLY price most of their transactions?
- Spot Pricing / Transaction Specific
- Formal Quotes or RFQ’s
- Customer Agreements
- Catalogs and Price Lists
- Mark-up From Vendor Rebates
- Pricing Analytics System
For your pricing strategy to be effective, you need to map out the changes you want to see and identify the right touch points in the process.