15 Considerations for Progressive Business-to-Government Pricing
This paper is a reprint of Chapter 3 of the author’s most recent book – B2G Pricing - adapted for this Journal. B2G Pricing focuses exclusively on the nuances and specific tactics required in the area of business-to-government pricing.
Embracing the Change: 2020 China NRDL Outlook
China’s 2020 NRDL (National Reimbursement Drug List) process has been unfolding since July this year with a number of new changes and interesting twists. Based on the authors’ experience and observations, as well as ongoing discussions with key players and stakeholders in the industry, they have identified three themes and made five predictions on the likely outcomes of 2020 NRDL process.
Discounting with Discipline: How to Make Sure Your Discount Program Succeeds
Companies facing falling demand—for individual products or across portfolios—typically think about increasing discounts and promotions to reinvigorate sales. This is a natural reaction, especially in an economic downturn, like the one unfolding in 2020. But when discount programs are not carefully crafted, the intended sales lift does not occur. In this paper, we outline six key considerations for sales and marketing executives and C-suite leaders when planning and executing discounts. With these considerations in mind, companies can respond to the current demand challenge, while minimizing the risk of unintended consequences.
What B2B Companies Get Wrong About Volume Discounts
Who knew that volume discounts can be so profitable? 7-Eleven’s Big Gulp strategy increased its fountain drinks by close to 100% and now Big Gulps represent close to 10% of income at some locations. One of the most misused tactics in pricing is volume discounting. In this article, the author provides tips on how to improve your volume discounting strategy.
Achieving Market Access for a Novel Ultra-Orphan Treatment
This case study outlines how to implement value pricing approaches in the difficult process of pricing a new pharmaceutical product. The process implemented in this project enabled the client to achieve market access in the US and the EU5 (Germany, France, UK, Italy, Spain) for a first-in-class, ultra-orphan oncology therapy.
A Revenue Management Reset in Consumer Goods
Rapid changes in consumer and customer demand will require consumer goods companies—much like companies in other highly dynamic industries—to reset their revenue management practices in order to survive the coronavirus pandemic and thrive in the future beyond it, as the authors explain.
Design-to-Value (DTV) Using Cost Integrated Conjoint Analysis
In this article, the author demonstrates the use of Design-to-Value (DTV) and Cost Integrated Conjoint Analysis as an approach for delivering winning product pricing strategies with high value to cost ratios. This article draws upon recently completed pricing consulting projects to illustrate the effectiveness of this approach.
Preparing the Chemicals Sector for Post-COVID-19: 5 Key Recommendations
Three factors will ultimately determine how prepared the chemicals sector will be for the post-COVID-19 era: how well the companies understand the current effects of the COVID-19 crisis, how the companies cope with uncertainty in the meantime, and how well they seize five key opportunities to gain a competitive advantage.
Case Study: 36% Higher Portfolio Value with Behavioral Selling
In this case study, the author outlines a portfolio optimization project for Oberbayerische Volksblatt (OVB) Rosenheim. This project helped the company transition from a confusing showcase of possibilities to a subscription store that helps customers decide. The emphasis on behavioral selling has increased the company’s portfolio value by 36%.
Wise Japanese Crisis Strategy Focuses on “Community” Over Profits
While COVID-19 has ravaged much of Europe and the Americas, the world can look to Japan for a formula for long-term survival in turbulent times. Harvard Professor Hirotaka Takeuchi, author of “The Wise Company: How Companies Create Continuous Innovation,” offers insight into the Japanese model. These tactics can be very useful to pricers in multiple industries looking for innovating ways to weather the economic storms caused by the COVID-19 pandemic.
SCIENTIA POTENTIA EST
Back in 1597 Sir Francis Bacon opined that knowledge itself is power. And with the correct data, analytics, and a framework of key processes, it’s possible to leverage the knowledge of what a market competitive price should be to avoid overspending, as the author explains.
Pricing in a Volatile Market
We are in unchartered waters of a global pandemic and macroeconomic uncertainty. In this environment, how should businesses adjust their strategies to best address the unpredictable market? Are price cuts – or price increases – warranted to protect growth and margins?
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