If you are unsure and need to review and develop Pricing Policy firstly check out you have completed your homework. Some of the hard data you need includes understanding of :
- Competitor & Alternative Products / Services Pricing – Good Research Enables Optimum Pricing
- Customer Requirements – ‘Customer Perception Study’ Enables Re-Setting Factors Effecting Pricing – Service , Range, Footprint + +
- If Pricing Works – Test Beta System Pricing Models In Appropriate Sub Sectors
And Avoid Like The Plague :
- Hanging Onto Historical Pricing Models & Levels – In A Changed World (Most Common Error)
- Rigid ‘One Price‘ Models – Scope For Pricing Range
- Accepting One Source’s Pricing Assessment – Need Multiple Internal And External Pricing Checks !
Taking aspirations and Market Conditions into account Tangible Result Research enables optimum pricing model and levels enabling higher profits, faster growth and enhanced Customer reputation. See how Tangible Result’s Perception Study can add crucial input to the Pricing Process.
Often Tangible Result has found a small change, highlighted by Tangible Result’s Research, will add €M to the bottom line.
Case Study :: Tangible Result Pricing Research
CEO Client urgently needed a higher profit margin if the company was to survive and prosper – but Client Sales & Operations Differed In Explanations To The CEO Of Underlying Reason For Perceived Low Market Pricing.
Action: Tangible Result’s Perception Survey identified poor Service levels were the real culprit which had forced prices down to 20% less than Competition.
Client Feedback : CEO very grateful for pinpointing root cause and suggesting remedies, Sales delighted not to shoulder all the blame !
Tangible Result’s Pricing Research can similarly point to other solutions in differing circumstances – contact us to find out more !