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Pricing Podcast: Creating & Capturing Value With Ed Kless & Ron Baker

Learning how to create and capture value in pricing is a valuable skill. In this PricingPodcast, Lisa Fisher, the PPS Senior Director of Marketing and Communications, talks with Ron Baker, Founder of VeraSage Institute about the newest PPS Online Pricing Course “Introduction to Pricing on Purpose: Creating and Capturing Value”. Ron and Lisa discuss why this topic is relevant in today’s marketplace.

Listen to the interview on SoundCloud HERE.

Professionals willing to improve product pricing will best benefit from the newest Online Pricing Course, as discussed in the podcast. Ron Baker, Founder of VeraSage and Ed Kless, Senior Director, Partner Development of VeraSage lead our newest Online Pricing Course offering, “Introduction to Pricing on Purpose: Creating and Capturing Value".

Click To Register For The Course!

Discover the insightful strategies the course can provide businesses ready to shift from cost-plus to value-based pricing. Learn the alternatives to pricing your products and /or services based on customer-perceived value, rather than cost-plus pricing methods. By learning to avoid the deleterious consequences of cost-plus pricing, attendees will improve communication with customers, be able to discover their expectations up-front, enhance their loyalty and retention, and increase your profitability. Attendees Will Learn:
  • The genesis of cost-plus pricing-and why so many businesses still cling to it
  • All customers are not created equal and the economies of price discrimination
  • The First Law of Pricing
  • Why there is no such thing as a commodity
  • The seven types of customer risk and their impact on value
  • What is “fair price?”
Who Should Attend: Any executive who is interested in being among the leaders in the business world moving away from the cost-plus pricing method to achieve a competitive differentiation and who is tired of sacrificing profits on the altar of costs.

Don't miss Ron Baker & Ed Kless share their expertise in-person during #PPSCHI18!

Register to attend HERE and click the image below to learn more about the 29th Annual Spring Pricing Workshops and Conference event!

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CPQ Business Basics With Lydia DiLiello

#PricingChat -Lydia Recap 2.0 Lydia DiLiello shares four great tips with PPS to cover the pricing basics around CPQ strategies for business. Lydia DiLiello shared four great tips with TPA Blog that cover the basics around pricing and CPQ. Gain a better understanding of the tool and how leaders within the industry are using CPQ from pricing strategy expert Lydia DiLiello. About Lydia: Lydia Di Liello is the founder and principal of Capital Pricing Consultants L.L.C. a Revenue Management consultancy dedicated to improving profitability for its clients. She brings more than 22 years of global revenue management, pricing expertise and business leadership experience to her clients. Spending her corporate career in B2B, Di Liello’s experience working in 16 countries with global Fortune 500 companies and mid-size privately held firms provides a breadth of knowledge and an understanding of the unique challenges her clients face. Her leadership roles have included manufacturing, pricing, and procurement. Di Liello earned her MBA from The Youngstown State University and is a prominent member of the Professional Pricing Society Board of Advisors and regularly presents at Conferences. She also frequently contributes to pricing industry publications including The Pricing Advisor, Pricing Brew and The Journal of Professional Pricing.

What is a Configured Price Quote - CPQ - anyway?!

Lets chat CPQ!

Question: So, what is CPQ?! Answer: CPQ traditionally refers to software that supports Configuration, Pricing and Quoting of custom products. Question: What are additional ways to define CPQ and the business process? Answer: Other names for CPQ include "Quote To Cash", "Opportunity To Order", "Quote To Sell", "Lead To Win", "Contact to Conversion." Question: How is CPQ bigger than "just software?" How can companies best incorporate sales strategies? Answer: CPQ is no longer "just software." Historically, CPQ was created to solely as software, but progressive definitions include dynamics of Change Management, Business Processes, and Policy development. These additions change the thought process around CPQ making it an essential part of a successful global, multi-channel selling strategy. CPQ grants companies full control over which partners, groups, or channels can access certain pricing or product information, with role-based access, discount locks, and portals, allowing a greater management of revenue, discount offers, or pricing and shipping fees. CPQ software and strategies also allow businesses to manage different strategies for multiple channels and geographies by providing full visibility into sales trends and channel effectiveness. This allows executives to course-correct when needed. Question: How does CPQ affect today’s Pricers? Answer: CPQ affects not only Pricing but also Finance, Sales, Customer Service, and Operations. It touches every part of an organization in both breadth and depth. The expanded definition includes Change Management, Business Processes and Policy Development, all critically important. Sales leaders want to follow a product's life throughout the entire organization. From the point of initial customer contact, all the way to the end - a closed sale with a happy customer.

For more information about CPQ strategies that will better impact your business, contact Lydia directly with questions and comments!

Email: Lydia@capitalpricingconsultants.com

To learn more about CPQ, sales strategies, as well as hear more from Lydia in-person, join us in San Diego, California this fall for the 29th Annual Fall Pricing Workshops & Conference!

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Influencing Customer Price Acceptance With Tim Smith

Learn the strategic influences of customer price acceptance in this Online Pricing Course with Tim Smith, CPP

Obtain valuable pricing strategies, access to industry publications, research and more resources for pricing professionals around the globe.  The Professional Pricing Society's online education offerings are taught directly from leading pricing experts from around the world. Take an on-demand course from anywhere in the world, at any time!

Every PPS Online Course qualifies as one (1) CPP Credit towards a CPP Designation.

Influencing Customer Price Acceptance With Tim Smith

PPS online course - Tim SmithWorkshop Details: Why is raising prices so difficult but lowering prices so easy? What can marketing communications and sales do to improve price capture? What kinds of switching costs affect pricing? Why do prices end in nines? Why do mattress salesmen show customers outrageously expensive beds first prior? Why are price cuts easy but price increases hard? How do customers think about prices and what can a company do to influence their expectations positively? In the "Influencing Customer Price Acceptance" Online Course, Tim Smith will explore over 17 different economic, perceptual, behavioral, psychological, and neurological influences to customer price perception. Some factors can be influenced by the actions of sellers, others are inherent within buyers, and still, others are impacted by competitors. All are important in understanding and influencing customer price acceptance. Course Benefits: This Online Course addresses pricing issues in business and consumer markets, appropriate for pricing, marketing, sales, and senior executives. Attendees Will Learn:
  • Hidden economic effects influence customer purchase behavior and price perceptions
  • Customer perception challenges that influence how customers perceive prices
  • Why prospect theory accurately predicts challenges customers have in making rational tradeoffs between price and value
  • How anchoring and slow adjustment drive price expectations
  • Implications of Prospect Theory in consumer behavior, including anchoring, endowment effects, framing, and more.
  • How trust is defined within the buyer’s mind.
About Tim Smith: timsmith_small Tim Smith, PhD, CPP is the Managing Principal at Wiglaf Pricing, Adjunct Professor of Marketing and Economics at DePaul University, and Academic Advisor to the PPS Certified Pricing Professional program. Smith focuses on the use of quantitative and qualitative research to enable firms to drive profitable top-line revenue. He began his career as a research scientist in quantum mechanics before his interest in transferring technological advances to societal implementations led to pursuits in business strategy. Smith holds a BS in Physics and Chemistry from Southern Methodist University, a BA in Mathematics from Southern Methodist University, a PhD in Physical Chemistry from the University of Chicago, and an MBA with high honors in Strategy and Marketing from the University of Chicago GSB. Learn more about this Online Course offering and REGISTER today! Continue reading

NEW Online Course Offering: Pricing Transformation With Joanne Smith

Announcing a NEW Online Course from PPS!

Pricing Transformation: Creating the Passion, Urgency, and Skill for Superior Pricing Across Business, Marketing & Sales

Course Description: Achieving superior pricing goes well beyond the price setting and analysis were typically done by the pricing organization. It requires a supportive company culture with a passion and urgency for pricing and profit enhancement, strong price execution motivation and skills throughout sales, the right pricing organization/structure, as well as the right pricing processes and systems. This critical part of a company’s pricing transformation is often overlooked or under invested in. Pricing leaders need to expand their role to include driving this broader transformation. This course covers many of the successful and practical strategies and tactics used by Smith as she led the DuPont Company’s pricing transformation. This course is targeted for business management and pricing leaders who desire to have a greater influence on the company culture and business, marketing and sales organizations to improve the company’s ability to deliver far greater pricing benefits. Attendees will learn:
  • How to influence company culture towards a passion and urgency for pricing excellence
  • How to influence sales for improved price motivation and execution
  • How to influence marketing for improved value creation and value-based pricing
  • How to influence business leaders towards business strategies that enhance industry pricing dynamics
  • How to understand and evaluate the pricing processes and systems needed for success.
About Joanne Smith:       Joanne Smith is the President of Price to Profits Consulting and author of The Pricing and Profit Playbook (Bradley Publishing - October 1, 2013). Joanne is a former DuPont Corporate Head of Marketing, Pricing and Customer loyalty. She was instrumental in creating the pricing organization which transformed DuPont from weak to outstanding pricing performance. She focused on raising the pricing competence of the marketing /sales organizations, influencing leadership behaviors to support pricing excellence, building pricing experts, running hundreds of pricing projects across diverse industries and implementing pricing processes/systems. She has integrated her business, marketing, and change management background into her pricing to develop new innovative approaches. Joanne brings over 20 years of global business, marketing, pricing and consulting leadership experience. She is best known for delivering superior results, challenging the status quo, leading and inspiring change and creating innovative solutions to complex business problems. Joanne often teaches or presents on marketing and pricing. Joanne achieved her Bachelor of Science degree in Chemical Engineering from Drexel University and completed Advanced Marketing and Sales Courses with Kellogg School of Management Program. She is a certified Six Sigma Champion, and previously lived in Europe advising in business and marketing strategy. Learn more about The Professional Pricing Society's online courses and REGISTER to take Joanne's course HERE. Continue reading
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