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Pricing applications and how to minimise the pain of approvals

Many pricing applications have the ability to create rules that mean an approval is needed if prices go beyond certain ranges. Whilst approvals help manage pricing, it is important to understand what they are trying to achieve and which applications best support this. In this article I’ll talk about some of the reasons why pricing […]

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How to reach pricing zen

Are you in pricing chaos? Spending all your time fighting the ‘approval monster’? Let’s take a journey on the path to enlightenment…

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Segmenting your way to pricing profits

Segmenting your way to pricing profits!

For many, segmentation is the single critical factor that can drive a differentiated pricing agenda and therefore an accelerated route to profit growth. While this truth may be obvious to most, why is segmentation so difficult to implement in practice? Time and time again the gap between the theory of using segmentation for pricing excellence […]

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You’ve changed your pricing policy, now what? Navigating Implementation Gremlins

Wow you have finally done it! You have come up with a new and much better pricing policy. High fives all around with congratulations from senior management. BUT now what about implementation? This is when you face a number of lurking implementation gremlins hiding in the undergrowth of the execution challenge. First implementation gremlin – […]

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Pricing Chaos? A lack of price structure leaves Sales in the dark

Firstly what does someone mean when exclaiming “it’s pricing chaos”? Typically it’s an observation that pricing is undertaken in an ad-hoc, often reactive manner where the capacity to manage pricing effectively is poor. Significant pricing inconsistencies occur probably in an environment where the loudest voices win and the blame game is common. It’s messy, tension […]

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Price, the neglected lever

No for-profit business, as suggested by the term, can survive in the long run without making a certain amount of profit. Hence, every manager needs to fully understand the actions that underpin a firm’s operations and allow it to make profit. These actions are called profit levers because like mechanical levers when they are pulled […]

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Is there ever a good time to do a price rise?

The short answer:  NEVER and ALWAYS! The longer answer: Price increases are always difficult to achieve successfully and yet doing nothing is a gradual recipe for financial disaster. Why? Your costs are never static, so within 5 years your profit margin could easily be ZERO. Of course good cost and supplier management can counteract this […]

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