Here are some examples of effective pricing levers:
- Respond quicker to the competition through more sensitive competitive monitoring and reduced list price response time from “weeks to days
- Bring gaming considerations into decision-making
- Make more rapid pricing decisions
- Make sure pricing is “in strategy” on all product lines and in all countries
- Change pricing roles and responsibilities
- Re-institute price planning as a disciplined core business process integrated with other functions
- Introduce new pricing concepts and pricing metrics
- Correct competitive analysis on multiple segments including tied services
- Fix currency exchange-rate management process
- Introduce channel pricing framework
It is knowing exactly what needs to done, how to do it cost effectively, and still hit your targets …
…. That’s what’s magical about it.
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