Technology Lifecycle Pricing (Part 4): Optimizing Pricing and Pricing Processes
Once a product is mature in the market, product packaging and the price structure have been strategically defined, but maintenance is required to make sure prices are refined, new features are incorporated correctly, and competitive moves are taken into account and countered accordingly. All of those tasks require more and more information and typically at least a dedicated individual to help manage.
Key takeaways from this webinar:
- This stage is by far the most data-driven; pricing does become more informed by science than art.
- Pricing processes are also unavoidable at this stage including having a pricing team and/or pricing council to endure this cross-functional initiative has clear direction consistent attention.
- The ability to track and manage discounting consistently is an incredibly important tool to measure and refine pricing over time.
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