Barry Edney’s Post

A useful share. Thanks Ruben Hassid

I've often commented that business improvement projects are a team sport, that is, they are only successful with cross functional collaboration. Talking about collaboration is one thing, but how do you actually achieve it? This interesting article has a few tips. https://lnkd.in/emX2j5-D #pricingstrategy #manufacturing #commercialexcellence

If you are trying to develop meaningful and relevant dashboards for your business, this is a useful read.

A great session at our monthly Burning Issues Consulting Pricing Cafe where we discuss all things pricing. This month we were discussing the challenges of juggling multiple sources of information and multiple spreadsheets to manage internal processing. A common challenge for many of us. Some great tips and good practice ideas were shared. Many thanks to Fiona Brown BSc(Hons), Neeraj Kumar Kokkottu Pechimuthu, Jeroen Pels, and especially to George Boretos for leading off the discussion on pricing teams and their structure. The discussion was so good, the time just sped by. Thanks to everyone for your contribution and active participation!. Look out for details of next months event!! See you all then. #pricing #margins #pricingstrategy

Do join us for the Pricing Cafe discussion group, on Thursday this week. A chance for those of us with an interest in pricing to discuss our favourite subject! See you there... #pricing #RGM

One thing that has been proven many times over the years, is that doing the fundamentals well will take you a long way. The same is true of pricing. Often I help clients get the basics in place or help refining or developing them as the business evolves or grows. ✅ Selecting the pricing objective While we would recommend that the overall pricing strategy should be defined, at the very least have a clear objective for the price decisions you are making. So many businesses fail to set clear objectives, so never know if their pricing decisions were succesful. ✅ Determine Demand Of course, demand will vary based on the end customers perception of the value delivered (the elasticity). None the less, you have to determine likely volume based on your understanding of value delivered, market appetite and your access to market. What is often overlooked, is the ability to use price to manage demand. Most of us are aware of promotional pricing to drive volume. How many businesses use price (increases) to dampen demand when availability is low. Pricing vs Demand can be a two way street. ✅ Costs Most businesses have a very clear idea of their cost of goods sold. It’s a fundamental part of the P&L after all. However, most businesses really have no idea about the various costs that go to support the sales of a product or service, the Cost to Serve. Cost to Serve  can be anything from customer service, delivery frequency or technical support and it is the most overlooked cost in the profit equation. ✅ The Pricing Method A fundamental decision. Lots of thought needed here. Not least is will you be a price follower or a price leader? Do you work cost up or diligently investigate your customers willingness to pay? In my view, the strength of your value proposition will determine just how much choice you have. ✅ The final Price What are the numbers on the invoice? If only it was only as simple as that … There’s also company policy, competitor reaction, customer reaction, the impact of other elements of the marketing mix to name a few. #pricing #RGM #margins

Will you be joining me Fiona Brown BSc(Hons), Jeroen Pels, Neeraj Kumar Kokkottu Pechimuthu, Diego Morales Vela, George Boretos and others for the best discussion on all things pricing!! I do hope to see you there. #pricing #RGM #Pricingoptimization

After the recent criticism of dynamic pricing following the (shall we say difficult!) sale of Oasis concert tickets, there have been many comments on the subject. Rather than add yet another opinion, I thought it worth sharing an HBR article on this subject, from earlier this year. As always with HBR articles, agree with them or not, they are always worth a read. #dynamicpricing #pricing https://lnkd.in/eaYScmsR

Great to see Neeraj Kumar Kokkottu Pechimuthu and Solenoid Augment Technologies being recognised for their products and solutions. #cpq #manufacturing #pricing

Will you be attending the Burning Issues Consulting Pricing Cafe discussion on the 27th June? For the best (even if I say it myself!) discussion group on all things pricing, do join us at 3pm (UK). Details are below. I've been a little quiet on LI these past few weeks so it will be interesting to see what that has prompted the LinkedIn algorithm has done to my ranking and the impressions I get with this. Norte that I mention LinkedIn twice in case that helps!! #pricing #marginmanagement #pricemanagement