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