Is Your Pricing Strategy Delivering Optimum Profits?

Pricing is the most important tool that senior executives have for improving their company’s profitability. It is vital that everyone who’s involved in pricing and selling your products or services understands and supports the pricing strategy you have in place.

That’s where PriceGain comes in. We help companies develop clear pricing strategies that help them improve profitability, increase or defend market shares, and enhance revenues.

Is your pricing strategy a result of evolution versus revolution?

We’ve found that many of our clients have a pricing strategy that has evolved over time, but the strategy has not been clearly thought out. Such “evolved” pricing strategies are often undocumented, unrelated and unresponsive to the firm’s current overall business objectives.

It’s quite common for us to hear during our assessment interviews that a process is in place because “that’s the way we’ve always done it”, rather than being based on sound principles that are tied to today’s economic conditions.

An optimum strategy is based on three key parameters.

• Improved profitability
• Revenue growth
• Desired market share

Pricing strategies are a competitive advantage.

We’ve seen again and again that the smart pricing strategies we’ve helped implement result in a major competitive advantage for our clients.

That’s because it’s very difficult for competitors to respond effectively to your new pricing strategy with simple discounting. In addition, a smart pricing strategy will enhance your brands and help you increase the perceived value of your offerings.

What it takes to develop your new pricing strategy.

Depending on the size and complexity of your business, it typically takes two to four months to develop a pricing strategy. To do so, we study your sales channels, market trends, segments, and competitors. We analyze customer buying patterns and price sensitivity on a segment-by-segment basis.

In addition, we assess the financial impact of alternative approaches and consider all affects of a new pricing strategy. We conclude a project by documenting and presenting your new Pricing Strategy.

Implementation is a key success factor.

One of the most important aspects of any pricing strategy project is implementation. Any new strategy you initiate will only succeed if your staff understands and supports it. Pricing strategies can be undermined by a sales staff who thinks their “gut feel” is the best way to establish pricing.

PriceGain has extensive experience training sales, marketing and pricing personnel in large-, mid- and small-size companies. We can help you understand the benefits your company has to gain by adhering to new pricing practices. We ensure that you’ll know how to use your new pricing tools and how to track your results.