How we can help you to develop a complete Pricing strategy?
The pricing strategy can not be set in isolation by any one area of your Business. We follow a practical process whereby price points and promotional campaigns are aligned to customer value communications. We identify value creation opporunities by following a comprehensive 3 stage pricing strategy development process:
Stage 1
- Understand your current process and policies
- Customer analysis
- Market assessment
- Competitor review
- Transactional analysis - Pricing span, Profitability and Elasticity models.
- Optimal profitability analysis
- Organisational review including Leadership alignment and Stakeholder feedback loop
- Define Business needs
Stage 2
- Agree optimal pricing process and associated policies
- Determine core Value proposition
- Conduct Customer & Market segmentation
- Agree list price and discount strategy
- Align Incentive programs
- Stakeholder feedback loop
- Agree Change Management program
Stage 3
- Finalise Organisational design
- Identify KPI reports
- Monitor Price positioning and relative pricing ladder
- Measure Price performance
- Monitor Customer behaviour pre and post strategy implementation