Pricing Strategy
Develop an effective and agile pricing strategy for IT products and services based on a range of internal and external factors
Type
Functional
Competency Area
Sales and Marketing
Levels
Analyse trends to assess impact of internal and external factors on pricing and the effectiveness of pricing policies against competitors
Monitor statistics on sales contribution margins, consumer demand, product performance
Keep up to date with trends such as buyer patterns and competitors' offerings
Track pricing levels and tactics employed by competitors
Analyse information collated to assess impact of internal and external factors on pricing
Implement pricing strategy in a differentiated manner for different customer segments
Track effectiveness of pricing policies
Recommend optimal pricing levels for different customer segments and adapt pricing plans based on analysis of both internal and external factors
Recommend optimal pricing levels for products or services based on analysis of both internal and external factors
Identify different customer segments that may necessitate different pricing plans
Implement mechanisms to enable pricing agility and adaptability to competitor or consumer patterns
Adapt pricing plans taking into consiideration customer buying patterns, competitor offerings and product performance
Develop monitoring processes and systems to assess effectiveness of pricing policies
Evaluate the effectiveness of agreed pricing policies in line with key success indicators
Analyse past sales performance to support development of an appropriate pricing strategy
Articulate impact of pricing strategy changes
on existing agreements
Determine an appropriate pricing strategy for different products, services and customer segments
Determine an appropriate pricing strategy for product and services
Establish processes to adapt pricing strategies in a quick and agile manner
Determine need for and endorse pricing adjustments in view of market circumstances and industry pricing trends
Direct different pricing strategies and plans for different customer segments
Establish key business success measures for evaluating effectiveness of pricing strategies