Industrial Pricing Power is a tool that helps with the relative price positioning of products. In the portfolio and also helps decide which products command more premium in the portfolio. :
It’s a questionnaire with 20 questions wrt:
- Product and application innovativeness and maturity
- Exchangeability risk
- Competitive advantage
- This information is combined with profitability metrics like RoS to determine which products should be priced higher, which next.
- Helps sales better under value proposition
- Helps with value selling
- Helps with understanding customer dependence and reliability on products
- Helps understand positioning relative to competitors
MRD’s Industrial Pricing Power calculates & provides a graphical visualization of relative price positioning with an index to help product managers work out the optimal pricing. It is typically the starting point to an organization’s journey into Pricing Excellence
MRD has decades of experience in pricing strategies, with a simple overview of 20 question-answer out team is capable of deep-diving & providing insights into the untapped potential of your pricing landscape.
If you are ready to walk to the path of pricing excellence, contact us.