Price Implementation

The best pricing processes are worthless if they are not implemented in practice. Profit improvements are only realized when optimal pricing decisions are brought to and enforced in the market. Therefore, it is essential that people responsible for implementing each step of the pricing process know the pricing strategy, understand their role in the process, and have the proper tools, resources, and training to conduct their portion of the process. Furthermore, it is essential that incentives / compensation are tied to both completing each phase of the pricing process and are linked to the pricing strategy.

SKP can help you implement the improved process by:

• Developing a set of checklists, guidelines, responsibilities and tools for each step of the price management process.
• Helping to train employees in the use of these tools.
• Ensuring that incentive systems make sense in the context of the pricing strategy and price management process.
• Developing a system of checks and balances to ensure that the process is carried out efficiently, correctly, and frequently.

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