Dynamic Value Based Pricing
What they needed was a systematic & full understanding of how ideal prices can be defined based on all the underlying factors impacting price and ensuring this is aligned with the value customers receive. Furthermore, we wanted to enable the organization to fully dive into what drives the different price points and why, equipping them to have the right discussions with customers.
We developed a full overview of all drivers of pricing (such as product factors, customer factors & value drivers), which we then further broke down into several levels each. We analyzed each pricing driver in detail to attach pricing tags for each level in each factor. This allowed us to build a fully transparent pricing list & logic to define ideal prices for each product.
By taking all key stakeholders along the process we managed to drive the engagement forward through teamwork, resulting in the final tool being heavily sought after by the sales teams, as this would allow them to fully understand pricing in detail. We have also developed the tool in an easy to use format (MS Excel) so that everyone can use the tool without any further complications around IT, Apps, accounts etc.