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Lead, Follow, or Get Out of the Way with Price Increases

Does your industry have a clear pricing leader? That is, does one firm tend to make price moves and industry participants follow? If you are lucky, your industry works this way. If you are a price leader you may already know the benefits of this role. You can set the pace for price increases in […]

Why Knowing Your Competitors Prices Misses the Mark

We were recently approached by two companies looking to identify the prices of their competitors. Each of these companies were manufacturing firms that produced made-to-order products. One was a forging company and the other a plastic injection molding company. Management of these firms believed that if they knew the hourly rates of their competitors they […]

Start Your Strategic Pricing Program with Price Performance Visibility

Do you know how pricing decisions are impacting your profit margins? If you are like most wholesale distributors and manufacturers you probably don’t. Measuring profit margins only goes so far but stops well short of actually measuring price performance. The objective is to isolate price and measure how prices have changed over a time period […]

Migrating Sales Incentives Towards Price Performance Reward

The vast majority of sales programs do not have incentives focused on rewarding price performance. There are certainly plans that include incentives based on margins but not specifically on price. So, first, why do we want to reward sales teams on price performance? If your sales team is currently involved in the pricing process through […]

Are You Underpricing Your Business Across the Board?

In most of the clients that our strategic pricing consultants engage with we sometimes see a company who is underpricing their business across the board. That is, in nearly every case the price is less than the threshold that the customer is willing to pay. One indicator is when your sales close rates are extremely […]

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