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The Last Mile of Pricing is not Selling but Buying
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The Last Mile of Pricing is not Selling but Buying

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  • I could only smile reading your message; I’ve been discussion the client’s buy-side requirements and buy cycle for years. Some days I actually see where I’m making progress…

    Mr Bill Ezell
    CEO and Founder
    Client Success Group Inc
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
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  • 1. The Last Mile of Pricing is NOT Selling but BuyingI recently gave a one day workshop on at the Professional Pricing Society on “Value Creation andEnhanced Pricing: Increase Profits through Right Customer Value Pricing at Orlando, Florida in October,2012One breakfast speaker stated that the Last Mile of Pricing is Selling. This shows that companies are stillinward looking and are not looking at the Customer’s buying propensities and the Value CustomerperceivesThe moment you think the last mile of Pricing is Buying, you will start to look at the Value you are creatingfor the Customer and the psychological and other barriers to buying and at neuro marketing. But becausepricing is normally a separate department (or silo), the pricing department does not have the support ofmarketing, nor do they have the clout, nor do they have the knowledge of the Value the Customerperceives (and often neither the sales and marketing department has this information in detail exceptthrough satisfaction studies), nor do they have access to neuro marketing or psychic selling, and theycannot influence much of what sales and marketing does. So they are forced to look at pricing from atechnical angle.So, the first step in making buying the last mile of pricing is to break silos in companies. Breaking silos incompanies is also needed for creating Customer Value, and for innovation. Thus this alignment ofdepartments must become a corporate imperative.The next step is to get an outside in understanding of what Customers think and perceive.Then understanding what customers are willing to pay for and why they buy will help make buying the lastmile of pricing. This can be done through a Customer Value Added study. The relative weights (what isimportant to a Customer) can help you price various components of your offering from a Customer’s pointof view and get you a better price. Soon, you will note that price is not everything, and as you createValue, your price and profitability will go up.Contact Customer Value Foundation for helpGautam MahajanPresidentCustomer Value FoundationK-185, Sarai JullenaNew Delhi 110025Mob: +91 9810060368Tel: +91 11 26831226email: mahajan.g@customervaluefoundation.comwebsite: http://customervaluefoundation.com

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