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The cornerstone of pricing in industrial markets is the ability to quantify and document value. B2B pricing requires the ability to document in monetary terms ($/€/£/¥) how much incremental profits a proposed product or service delivers over the customer’s next best alternative.
In this online course we present proven methods and tools B2B pricing professionals can use to translate product features into customer benefits and into documented and quantified customer value. We illustrate how B2B pricing professionals can use customer input to quantify and document the monetary value of their own products and services versus the customer’s next best alternative.
Todd Snelgrove, a global leader in industrial bearings, illustrates how SKF conducts Total Cost of Ownership and Total Value of Ownership calculations to quantify customer value. Todd Snelgove also highlights how SKF justifies price premiums vis-à-vis competitors and how SKF is able to profitably grow with a product portfolio which carries significant price premiums vis-à-vis competitors.
This online course is especially beneficial for those B2B pricing professionals who wish to transit from cost/competition-based pricing towards value-based pricing and who want to improve their ability to justify their own prices with the value they deliver to customers.
Andreas Hinterhuber, Ph.D. Andreas Hinterhuber is a Partner of HINTERHUBER & PARTNERS, a consultancy specialized in strategy, pricing, and leadership. He is also a visiting professor at Bocconi (Milan, Italy) and at the University of Lugano (Lugano, Switzerland). Previously he was a Marketing Executive with Bayer AG where he was responsible for the Group’s largest product group with worldwide responsibilities.
He has worked in the US, Japan, China, and Germany. He has completed consulting projects for 12 of Germany’s DAX 30 companies and other companies from around the world. He has an M.A. from Bocconi University (Milan, Italy) and a Ph.D. from the University of Vienna (Austria). He lives in Innsbruck, Austria and has published thought leading articles on pricing in leading international journals. Business Strategy Review, the strategy journal by London Business School, lists Andreas among major management thinkers.
Todd Snelgrove is the Chief Value Officer (CVO) for SKF, the € 8 billion world market leader for industrial bearings. As CVO he has over 10 years of experience in documenting and in quantifying the business impact of SKF’s product and service portfolio to customers.
His work has been featured in the Harvard Business Review, the MIT Sloan Management Review and other leading international journals. On value and price management he is a guest lecturer at IMD, Chalmers and the London Business School. Todd is also a Founding Fellow at the Sales Leadership Alliance at the Chartered Institute of Marketing UK. He achieved the Honours BA in Business and Politics from Wilfrid Laurier University.