The benefits of working actively and correctly with your pricing are usually difficult to comprehend. Obviously it will increase your profit margin but it will also mean that your efforts in other areas like purchasing, logistics, marketing etc does not go unrewarded. A correctly positioned product should also increase your overall revenue and LTV of your products, it will help you by making sure you don’t go ahead with launching a product that will become unprofitable. It will make your brand more coherent and amplify your marketing efforts. It might seem like I am overselling but the potential is vast, contact me and I can explain how your organization can best reap the benefits.
- Determine the right price – Price strategy development
- Merchandising and discounting practices while keeping up brand value
- New market entry
- Coherence of your current portfolio – small changes leading to large profit improvements
- Structure to price correctly with new product launches – pricing should not be set at the end of a long development cycle but rather be a part of the decision whether to start developing or not.
- Coherent and exhaustive pricing practices implemented in the organisation – you should only have to hire us once!
- C-level education on the importance of pricing (it needs to start at the top) – 1-2 days of education tailored to the participants which can involve everyone in your organization connected to pricing. Usually covers key topics of effective pricing and ends with a brainstorming session to uncover all the pricing issues current in your organization