Dynamic Pricing in a Digital World
Did you know about a widely held belief in native American culture that the antidote to a poisonous plant often grows very close to it? While we don’t intend to equate pricing disruptions caused by digital innovation with poison, we definitely believe that the antidote for companies to thrive in the digital age lies very much within the possibilities created by the digital age.
Experienced pricers are seeing first-hand the disruptions caused by digital innovation in the B2B market place. Traditional sources of value and price premium have been challenged by new/existing players with a focus on creating a delightful buying experience for the new-age B2B buyer. Manufacturers and distributors are struggling with entering the online channel and once there to manage prices to prevent a race to-the-bottom. Extreme price transparency and visibility in our end markets has led to a deluge of price concession requests putting tremendous stress on pricing resources to justify transaction / promotion prices.
Successful pricers have started to piece together the digital bread crumbs to now provide a digitized version of the traditional pricing solution. A dynamic pricing solution provides customized price recommendations that are in line with the context of the product(s) / customer segments and associated pricing power.
Come join us as we discuss approaches, techniques and outcomes from using digital enablers to provide dynamic support to a complex and complicated market place. We will use the traditional framework (identify business value, price to value & capture price) with a digital twist as we apply modern day analytics and capabilities to defend and enhance the traditional sources of price value and premium.
Manish Prabhu is a Managing Director with Deloitte Consulting LLP and is a leader within Deloitte’s Customer Strategy practice.
During this webinar, we will review examples of how world class organizations leverage digital capabilities to defend and communicate prices, and win in a rapidly shifting market place.
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