Pricing Management starts with a clean data strategy
"Pricing is one of the most powerful levers to boost your profitability, ever since Marn & Rosiello first study on the topic (Harvard Business Review, 1992), we know that Pricing is one of the top profit levers: a 1% improvement in price leads to 7-11% increase in profits depending on the industry. But, how do we start to design and execute strategies to increase that holy 1% in price?
In our daily work at TheTopLineLab we find - continuously - companies that set out to manage their Pricing following inefficient approaches. Among them, the most common are ad-hoc improvements in their pricing processes, the implementation of software tools in a siloed fashion and inconsistent ways to handle and govern their data. Now, if you need to start somewhere then start by getting your data straight."
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