As a pricing professional, I always love to quote the study that a 1% improvement in price leads to 11% in operating profit, whereas a 1% increase in volume sold improves only by 3.3%. If the business case for managing and improving price is so apparent, why don’t more companies do it? There are multiple factors why a price improvement… Read More
Mayuresh Saravanakumar lays out his framework in the video below for creating a simple approach to pricing analytics success: Identify, attack, and monitor. See also Mayuresh’s other blogs on pricing analytics including examples analyses and dashboards here.
One of our large, multinational clients was aggressively addressing the discounting culture pervasive in the organization. With various verticals, multiple product lines and more than 10,000 customers they were struggling to measure the effectiveness of the various pricing initiatives and identify areas to prioritize efforts for maximum impact. Because of the magnitude and complexity of the organization, they got stuck in the… Read More