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READ1102 – Pricing Optimization
October 28, 2020 @ 8:00 am - October 29, 2020 @ 12:00 pm
Description
The issue of margin erosion will never end if distributors do not get creative—first with their pricing methods, and second with their value proposition. Issues involving pricing methods are more critical to profitability and so should be tackled right away. For many distributors, pricing decisions are completely left to individual salespeople to do in their own way. Pricing is already quite complex, and inconsistency will only increase complexity and will lead to chaos. The solution to this dilemma lies in “complexity management”—providing structure with fewer variables, and “consistency”—doing things the same way every time. The time has come for distributors to address their concerns about shrinking margins by upping their game on pricing decisions. If distributors keep doing more with less, they’ll soon find themselves doing everything with nothing! This program will help you achieve the right pricing solution for your business!
What you will learn
- Improve margins by 150 basis point or more in months
- Adopt a practical-yet scientific and simple-framework
- Choose key variable that must drive your pricing decisions
- Use existing information in your system to increase margins
- Give meaningful, concise information to your sale force
- Implement pricing best practice with minimal resources
What you need to bring:
- Calculator
- List of pricing challenges at your firm