The Simplicity of 1% We recently provided a strategic pricing training program for a $400 million manufacturing company. This company had already embraced the concept of pricing leverage and was searching for ways to execute price improvements. During our training we discussed the power of 1%. That is, how an improvement of just 1% in […]
Price Your Products to Value, But Don’t Stop There Pricing your product offerings to value, that is, determining economic value to your customers and pricing accordingly is key to maximizing margins. However, setting a value based price is only one part of the entire value capturing process. One of the most critical and overlooked aspects […]
In our past blog posts; “Seven Key Questions to Uncovering Economic Value” and “Value Based Selling: Win Price Negotiations on Value,” we provided value based selling techniques to help manufacturers and distributors maximize profits during price negotiations. Our pricing experts direct on how to use the value your product or service brings to the buyer […]
Pricing products and services according to value is certainly a worthwhile effort. Implementing a value based pricing strategy results in more profit margin and more sales as prices are set to their optimal point. However, pricing to value cannot stop with pricing alone. Prices set to value are meaningless unless they are supported by marketing, […]
The world of strategic pricing can be extremely complex. Consider the sheer volume of part numbers, markets, channels and different types of customers that exist in your business. Add the fact that pricing seems to touch nearly every function in an organization from marketing, to sales, to production (costs), to accounting, to customer service and […]