On March 5, I hosted a webinar with PROS titled “Is It Time to Rethink Your Pricing Strategy & Boost Pricing Power?” During this session, we focused on the need to pay more attention to pricing strategy, especially in light of increased competition and renewed complexity in the business world. The premise of my argument…
Today in many companies, the distribution of an Excel spreadsheet, accompanied by some stern wording around pricing compliance, often passes as a pricing enforcement strategy. In truth, that method actually invites intentional and incidental abuses in the implementation of a pricing strategy, not to mention limiting the sales team on what can be a dynamic,…
The concept of variant, or component, pricing is familiar to a lot of manufacturers these days, thanks to Dell. That’s because Dell introduced the concept of variant pricing through its model for customizing the purchase of a personal computer.
Ken Orr at the Cutter Blog writes a great post about Enterprise Dark Matter, or the hidden but very critical applications in the enterprise. When I talk to customers and prospects, I am seeing these applications come up. One of the often hidden benefits of moving to a single pricing system is the elimination of…
Manufacturing.net and PROS’ Doug Fuehne, VP, Professional Services of PROS Pricing Software Solutions talk about how manufacturers can improve their pricing strategies and come out ahead as the economy turns around. To get right to it, the five pricing strategies Fuehne suggests will help you come out ahead in the economic recovery: Identify underperformers. Proactively…
In one of our latest implementations, we had a scenario where we were getting lower than expected sales adoption of the optimized price guidance in one division of our large distribution customer. Initially when we were trying to determine potential causes, all seemed OK – this division had followed the same change management plan, same training…
The other day, I had a very interesting conversation with one of our customers. They just completed a customer survey to help determine the core reasons their customers valued them as a supplier. Many items were listed – service level, relationships, ease of procurement, technology, price, market leadership, quality and much more. Price didn’t make…
We have been discussing the fact that sales adoption of pricing tools is a difficult problem to solve. Lately, I have been observing a pattern towards bringing pricing into the sales tools that exist today. These solutions utilizeSaaS and mobility platforms. Recent SaaS examples I have observed include companies that utilize Salesforce.com and Microsoft Dynamics…
With the success of PROS’ Global Leadership Seminar Series along its stop in Shanghai, China, Robert Rutledge, who leads Accenture’s Pricing & Profit Optimization practice in Asia-Pacific noted, “Manufacturers in China today face low-cost competition from places like India and Mexico and design and engineering competition from Japan and the west.” The seminar focused on…
True, leading-edge companies already have this figured out as they are investing in pricing for the long-haul. They are looking at the support mechanisms, training programs, and business policies that must be enacted in order to have a successful pricing initiative. This is not simple and it takes various business units agreeing to change for the mutual…
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...
