Price Mastery
Educate your team to make more profitable pricing decisions
Gross margins are under more pressure
To become more profitable, you need to:
Create a value based pricing culture
You need to be able to communicate how your product or services helps your customer to:
- Increase revenues/margins
- Decrease CODB
- Decrease COGS
- Reduce risk of profit impairment
Create management alignment
You need to be able to align your management team & staff to the right pricing strategy, by building:
- Vision & future state
- Identity
- Beliefs
- Behaviours
Design the pricing structure
You need to build the right pricing structure to drive revenue and margin expansion:
- List price
- Discounts
- Rebates
- Quantity breaks
4 Steps
to Profit Improvement
1Price Diagnostic
- Analysis of business issues
- Draft report issued 4 weeks prior to workshop
2Pre Workshop Preparation
- Team review of diagnostic results
- Undertake self study course work
3Price Mastery Workshop
- Live workshop
- Development of pricing skills
- Identification of pilot initiatives
4Pricing Mastermind
- Follow up coach & mentor support
- Help the team to implement ideas generated from the workshop
- Establishment of pricing mastermind
Price Mastery
Price mastery is a 4-step program designed specifically to educate your team to make more profitable pricing decisions. At the end of the course your team will understand the fundamentals of best practice pricing.
Post the workshop, teams then set to work developing new initiatives to improve revenues, gross margins and drive earnings growth.
The Price Mastery program is supported by a follow-up coach and mentor program to drive implementation of margin expansion initiatives.
Ideal for CEOs and their executive teams, this program will see you develop a plan to generate between $2.0-7.0m EBIT for every $100M of revenue optimised.
Pricing expert, Ron Wood, will work exclusively with you and your team to develop real profit improvements and transform your culture from commodity to value creation and margin expansion.
Course Outline
Value
Value Management
- Value in Use + Value at Risk modelling
- How to define, communicate, and capture more value
- Practical applications of value
Pricing Strategy
- Centralised vs Decentralised pricing strategy business models
- Revenue and margin expansion strategy
- How to write a pricing strategy
Trade Agreements
- Evaluation of current contract structures
- How to develop more profitable contract agreements
- How to manage contracts
People
Margin Alignment
- Creating a culture of value
- Aligning sales, marketing, finance, and operations to value-based pricing
- Implementing a price mastermind
Skills & Capabilities
- Core pricing and commercial skills
- Setting up a pricing team
- The roll of a pricing manager
Sales & Negotiation
- How to market value
- How to sell value
- How to negotiate value
Structures
Analytics & Methods
- How to analyse pricing to identify margin risks and opportunities
- Quantitative analysis and qualitative methods to manage margins
- Developing margin management dashboard reports
Systems & Toolsets
- How to build pricing tools to optimise revenue and margins
- Case study examples of pricing tools
- How to get more out of your ERP system – SAP, Oracle or JDE
Pricing Structures
- How to design the right pricing architecture for your business
- How to build an effective list price, discounts, and rebates structure
- How to manage the pricing structure when operating across multiple channels, customer types, and revenue models
Get in touch
Phone: (+61 2) 8226 8621
Email: info@pricinginsight.com.au
Address:
Level 26,
1 Bligh Street,
Sydney NSW 2000