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Price Initiatives

In: Practical Pricing

Author

Listed:
  • Michael Calogridis

Abstract

Price initiatives are those projects that guide the improvement of price performance throughout the company. They should be carefully planned out and clearly documented. It is very important for the success of any pricing plan that you keep a very bottom line structure. The improvement in pricing should take form in certain clearly defined initiatives and those initiatives should be clearly communicated and measured monthly. The monthly progress, with full year anticipated forecast, should be communicated to senior management. Essentially this the bottom line proof of how well the pricing program is working. It’s vitally important that each pricing plan includes specific initiatives. Don’t rely on a either emails or some other communication source about changes in process to substantiate the proof of how well the company pricing program is working. There is only one way to substantiate how well any pricing program is working and that’s to list carefully, plan, execute, and track specific price initiatives.

Suggested Citation

  • Michael Calogridis, 2010. "Price Initiatives," Palgrave Macmillan Books, in: Practical Pricing, chapter 0, pages 65-73, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-10234-7_7
    DOI: 10.1057/9780230102347_7
    as

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