Industrial Manufacturer wields the “Power in Pricing” to Revamp Go-to-market Strategy
Where should pricing reside within an organization? Should it report into finance, sales or marketing?
With over 400,000 products and 200,000 customers, one global industrial manufacturer found that keeping price quote approval limited to the pricing team created a situation where analysts were issuing approximately 15,000 quotes per month, or a quote every five-minutes per analyst! In addition, pricing was loosely based on costs.
By recognizing price optimization as a highly strategic aspect of their business, the company sought a pricing partner from which to learn and grow together and address this quoting process bottle neck. With Zilliant Price IQTM , the company was able to scale pricing guidance across the business, model price changes based on customer willingness-to-pay, win more deals and increase profit and grow margin.
Read the eBook for details on how this industrial manufacturer, armed with the “Power in Pricing”:
- Cross-referenced win-loss data with product pricing approaches
- Created skim, value and penetration prices strategies
- Placed products in the right go-to-market “grid” against the competition
The result was alignment around the right price, the right product and the right portfolio.