Pricing Management
Pricing Management
Develop and Execute Pricing to Drive Bottom Line Profits
Pricing management is the ongoing process of developing, setting, executing and measuring prices for your customers. With our World Class Pricing framework, we’ve helped over 500 clients improve their pricing processes to better manage pricing and increase profitability. Our multidisciplinary approach to pricing management incorporates components of behavioral economics, econometrics, finance, market research, marketing, and psychology. Our tailored simulation tools and predictive models are built according to your unique organization and market. With proven accuracy and success, we deliver tailor-made Software & Tools that deliver a high ROI on your investment.
Pricing Segmentation Tool
Pricing Solutions focuses on grouping similar customers/products with related behaviours so that clients can manage customer/product profiles more effectively. Applying price segmentation to other tools like the perceived value map and pricing waterfall can help your organization build pricing structures to maximize revenue by each segment. With data driven micro-segmentation your organization can analyze margins by customer or product segment which are the foundation for the pricing structure. The alignment and maintenance of these pricing structures leads to measurable increases in revenue and profitability.
Pricing Waterfall Tool
Your organization can analyze margins to understand the “true net price” each deal receives. Visibility of leakages using Price Waterfall Analysis, Price Band Analysis, Price Dispersions (right) etc., allows finance, sales and/or product managers to identify areas where better price execution could capture lost revenue opportunity.
Pricing Intelligence Dashboards
Best-in-Class pricing processes have clear pricing metrics and visibility into the effectiveness of pricing decisions. Pricing Solutions tailored intelligence dashboards combine our pricing expertise with your key business needs to deliver insights on your overall pricing strategy. Dashboards can be created to view by customer/product segment, functional area or even by sales associate. This powerful tool measures performance so you can manage your business.
Perceived Value Map
One of the key components to develop a pricing strategy is evaluating customer value. The Perceived Value Map, helps companies understand how customers perceive your brand/product and options for positioning.
Value maps are powerful tools which combine existing market/research data with internal wisdom and experience to enable more productive discussions on relative value and price. Some clients continue to update value maps with customer research to track value movements over time or by customer segment.
Case Studies
Transforming Pricing with Value-Based Segmentation
Industry: Manufacturing
Value Based Pricing Research for Innovative MedTech
Industry: MedTech
Pricing Management Articles
Three Common Pricing Mistakes (and how to avoid them)
When businesses want to increase their profits, they will invariably try to get more customers, sell more products, reduce their marketing costs and cut overheads. They will do all of this before pricing ever enters the arena.
How to Price Innovative New Products
Pricing a new product is one of the most complex marketing decisions to be made. Therefore, discussions on a product pricing model should start long before you plan to enter the market, while pricing strategy should be an integral part of product development cycle.
Improve Your Pricing Capabilities
As a consulting firm Pricing Solutions has witnessed a variety of pricing professionals and teams with a vast range of skills, qualities and capabilities. We compiled 10 stand-out qualities of effective pricing professionals; qualities that are common traits amongst the best pricers and can be used to improve your pricing capabilities.
How to Gain Long-Term Profit With Customer Segmentation
More effective segmentation, and a pricing structure that responds to the specific needs of particular segments, provides an opportunity to improve both growth and profit in the long-term.
Interested in Management Software & Tools?
Simply contact us by filling out the form!
We promise to be in touch with you very shortly.