- Review business strategies behind the expansion, as well as existing systems and price structures.
- Design applicable pricing strategies and methodologies, which support business objectives and can realistically be operationalized using existing systems.
- Collect available pricing data, product/service cost information, competitive market intelligence, and quantify (dollarize) value of differentiated features/ services.
- Perform analytics to generate price files for upload into ERP systems, by formulating prices that meet business the objectives associated with the new product line/new market expansion initiative.
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- Review existing systems and price structures
of both entities involved in the business combination.
- Develop formal price integration strategy and project
plan for migrating accounts to a single, unified pricing platform, while minimizing
market disruption from unnecessary price changes.
- Perform analytics to generate price files for
upload into ERP systems, by formulating prices that meet the business objectives
associated with the merger/acquisition.
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- Review existing price structures and market
feedback to current pricing practices.
- Ensure price structures evolve as growth creates additional complexity. Improve upon market-alignment and granularity of segmentation schemes
(price levels/price schedules, etc.). Keep general pricing architectures intact, so
as to minimize disruption to markets and ensure relative ease of implementation using existing systems.
- Perform analytics to generate price files for
upload into ERP systems, by refining/updating prices based on analysis of market/volume
response to existing price points.
- NOTE: Scheduled, periodic (annual or quarterly)
price change events may provide an appropriate window of opportunity for price
matrix structure refinements.
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- Review existing IT infrastructure/capabilities, to recommend software technology approach (Excel/Access, Business Intelligence
or other data visualization software packages, off-the-shelf specialized
pricing software tools).
- Identify and develop applicable Key Performance Indicators,
and best practice pricing analytics dashboard/tools. Examples include enabling
measurement of margin impact of changes in price/cost/volume/mix, “stick rates”
associated with historical pricing actions, and dashboards enabling “price banding” analyses
to identify segment-specific price outliers.
- Lead efforts to implement and operationalize the
analytics solution.
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