Dynamic Product Configuration Meets Dynamic Price Calculation
If you listened to our recent podcast episode with KBMax’s Vice President of Business Development Steve Stessman, you learned how dynamic product configuration tools align the customer shopping experience with the shop floor to create a product tailored to exact specifications.
Toward the end of that episode, our host observed the parallels between product configuration and pricing decisions.
“We’ve discovered that dynamic product configurations need dynamic price calculations to go with them,” said Barrett Thompson, general manager of commercial excellence at Zilliant. “Just like the tailoring of the product itself, I would offer that it’s possible to tailor the price itself to account for important factors like who the customer is, how much business they do with you, supply and demand balance in the marketplace, competitive prices and raw material cost inflation.”
To pull on that thread a bit further, Thompson and Stessman are getting back together to co-host a webinar on July 20 at 9 a.m. CDT entitled “Solving the Configured Product Pricing Puzzle.” The pair will address some confounding questions facing configured product manufacturers, such as:
- How can we appropriately price a product that we’ve never sold before and may never sell again?
- Is it possible to determine the truly optimal price for a uniquely configured product? If so, how?
- How can we accurately quantify our costs on built-to-order goods, especially in an inflationary period?
- Can we automate dependencies, i.e. charge a premium for a configuration that will require a burdensome manufacturing effort?
Register today to crack the code to these challenges and more. Learn how data-driven solutions and automation help deliver both a better product configuration and pricing experience for customers and practitioners alike. Attendees will leave with practical ways to eliminate confusion, reduce manual effort and empower customers to tailor products to their requirements at a price point that makes sense for all involved.
“I think people are less price conscious if they’ve had an opportunity to choose themselves, to solve their problem, and understand the parameters,” said Stessman. “Price becomes less of an issue if you allow the customer to make their own choices that fulfill their needs.”