Archives tagged: culture
In order for any pricing improvement project to deliver its potential value, price governance and pricing culture must intersect. Some may want to dismiss this as “too much to take on,” but the results of addressing fundamental questions from both sectors creates the difference between the companies that slog-along and those that thrive.
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In this missive, I examine how companies selling to end customers through distributors and retailers can design their commercial policy.
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Home Page Text Tailoring price according to willingness to pay is theoretically sound but culturally still questionable. It’s important to determine how your customers will react to such variable pricing when deciding whether to have price variance, and by what characteristics.
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Executives in industries impacted by the tariffs, retaliatory tariffs, and threatened future tariffs must react. The playbook for executives in this trade war will vary.
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According to Foley: “Many People find it easier to see the benefits that come with cutting costs and looking for efficiencies and worry that what may come with growth could be elusive.”
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What is not stated is “pricing transformation is a software implementation.” Pricing transformations do not require software. Changing routines, the way people work, and the goals of their effort may benefit from software and software may support the cultural change, but new software is not fundamentally required.
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The creation of the automobile was not a disruptive innovation but Henry Ford’s development of the assembly line was. The creation of the iPhone might be regarded as destructive innovation, but the advances in the technology are clearly sustaining innovation.
More Negotiations are no different, although not as dramatic and not as much a matter of life or death. Not surprisingly, on occasion, they devolve into a hypercompetitive, personality-driven blood sport
More CEO’s are responsible for organizing productive operations, and ultimately generating revenue. When it comes to their pricing responsibility, CEO’s manage pricing decisions by defining the culture, structure, and routines necessary for producing sound decisions that align with their strategy.
More So what do executives get wrong about pricing? They treat it as a noun not as a verb. Treating price as a verb drives executives to define the culture, organizational structure, and process for making pricing decisions. Leading firms do this. Failing firms don’t. Executives, you have a choice.
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