Price-volume elasticity is a concept about demand elasticity that’s commonly taught in B-school. The key word here is concept — it isn’t a law (like the law of gravity) — and the entire precept of price-volume elasticity doesn’t apply to the service parts industry. The reason for this is that price-volume elasticity is a retail-focused…
With the economic downturn clearly in the aerospace industry’s jet wash, executives are hopeful about its future. Forecasts show that the industry is taking off with nothing but clear skies ahead. The sector is expected to grow at a greater than 5% 5-year CAGR, with a predicted market value of over $1 trillion by the…
The worldwide service parts original equipment and aftermarket industries remain an economic force, and companies continue to search for ways to positively influence margins. To become leaner and more efficient, these organizations capitalize heavily in enterprise application software to automate, improve and measure their business functions and processes. There is little doubt that these investments…
During product life cycle planning, most companies heavily focus on product introduction and the transition to high volume maturity. In most cases, little attention is given to pricing strategy coordination. As a result, during decline and ramp down, products face intense pricing pressure. One way to abate this pressure and drive higher profitability, even during…
Today’s chemical companies face extraordinary business challenges, from the massive volatility in raw materials and input costs, to currency fluctuations and a globally competitive marketplace. The selling environment is equally complex. Between the emergence of niche players and increasingly aggressive procurement departments, salespeople can no longer rely on experience and gut instinct to close business…
The phrase ‘survey says’ became popular back in the day based on a game show called Family Feud that in fact still runs today. The premise of the show centers on a family of contestants who answer questions based on a series of survey results. Points are awarded to contestants as they’re revealed on a…
Even in a tough economy, organisations still face the same challenge each year: hitting bigger quotas. For service parts manufacturers and distributors dealing with multiple channels, thousands of customers and millions of products, achieving sales growth can be like finding that proverbial needle in the haystack. Then there are additional forces to contend with, such…
At PROS, we take tremendous pride in delivering the fastest time to value for our clients. In our outperform culture, we focus on driving continuous improvements in every aspect of our work lives. It’s a challenge I really enjoy and appreciate. It keeps us on our toes, always with our customers front and center in our…
… but Superman does not use avionics, why should I? It can be said that a pilot flying without avionics is similar to aftermarket service part companies trying to achieve pricing excellence without pricing software. It’s just something you don’t do! After attending the webinar, The Case for Pricing Software in the Service Parts Industry…
Before compact discs, iPods and the Zune, Pandora and Spotify, vinyl records were the way to play music. And to any “real” music lover, over the past two decades we experienced a slow painful death of vinyl, only to see a resurgence during the last five years with the music industry taking a step back…
Jacqueline Davis says:
Hi Siva,
Thanks! I couldn’t agree with you more on the...
Jacqueline Davis says:
Hi Rikhath,
The question of why your company needs a pricing team...
Siva Ram Yellapragada says:
Simply awesome !!
We have a strong pricing team in our global...
Rikhath says:
Also in enterprise products world do you think Product operations would...
Rikhath says:
Hi Jacqueline,
We fighting the same battle and I out...
