Pricing is an often overlooked but highly attractive profit lever especially for companies in the electronics, electrical engineering and automation business. In the new R&P webinar Michael Fechner and Gregor Buchwald will demonstrate, how to successfully exploit pricing potentials.
Faced with increasing commoditization formerly hardware-focused companies are developing innovative digital products or services at an increasing speed to extend their portfolio. Yet due to a lack of a digital pricing framework, decisions are not systematic and profit potential is often not exploited.
Moreover, the former hardware-focused sales force is facing a very hard time to actually sell digital products and lacks both tools and training to improve this situation. Digital product pricing no longer has any connection to variable costs but must be sold or priced based on value-to-customer.
Not only for digital products but also for many other complex products extracting full value means to clearly convey the value-ad of a (digital) product. This requires rigorous preparation and systematic techniques.
Also, sales teams are faced with the challenge to adapt product prices to fluctuating volume and different customer segments. Often there is no systematic approach to differentiation (e.g. a target price by product or volume) and thus willingness-to-pay is not systematically addressed. Also there is a lack in transparency regarding planned and truly purchased volumes. Here it is key to establish both a basic transparency to guide sales during negotiations but also to provide sales with a systematic price proposal that can be used as a benchmark.
Boost your topline with the new R&P webinar
Utilizing the years of industry experience Michael Fechner and Gregor Buchwald will provide you with tangible support to boost your top-line. For this purpose, we offer you a free webinar on March 31st and May 19th in which we will show how you can utilize pricing to increase your profitability.
The following questions will be answered in our 60-minute live webinar for manufacturers in the electronics, automation and electrical engineering business:
- Which approaches help to fully extract value from innovative products?
- How can you systematically provide sales with price guidance regarding customers or volumes?
- What pragmatic frameworks exist to price innovative digital products?
- How can prices be systematically enforced and what tools does sales need to succeed?
Each participant can submit individual questions in advance or to discuss them directly in the webinar.
Sign up here