Disruptions in the external environment are inevitable but smart companies don’t stand still. Many companies opt for innovation to sustain growth. Firms seeking to grow or protect profits sometimes rush into strategic initiatives only to realize that pricing execution is a bottleneck. Whether exploring new markets, mergers or acquisitions, reorganization, or deployment of breakthrough technology, companies can face unexpected challenges that impact price. Rather than yield price control, companies can be adequately prepared to protect revenues and profits prior to launching any major company initiative.
We will discuss that the prices and profits of a company are dependent not only on external causes but also on the company’s internal operations. We will discuss a step-wise approach that can prepare a company’s pricing operations for successful deployment of major initiatives.
Attendees will learn how to:
- Disentangle pricing challenges to start addressing them — Strategy versus Execution
- Assess challenges and perception gaps between internal stakeholders
- Analyze the source and size of challenges
- Recommend a prioritized plan inside the company to improve trust and speed of deployment
- Train various internal players to build a shared appreciation of pricing at large to ensure their stake in successful deployment of initiatives
Navdeep Sodhi has helped companies create shareholder value through pricing strategy and execution since 1995. His global pricing experience, as practitioner and consultant, spans several industries: Airlines, Medical Device, B2B Manufacturing, Electronics, Chemicals, Outsourced Services, and Building Products. Navdeep co-authored the book “Six Sigma Pricing: Improving Pricing Operations to Increase Profits” (Financial Times, 2008) and written several articles for reputed publications, such as, Harvard Business Review, Quality Digest, Journal of Professional Pricing, etc. The forthcoming books “Oxford Handbook of Pricing” (Ed. Özalp Özer and Robert Phillip, Oxford Publishing, July 2012) and, “Visionary Pricing: Reflections and Advances in Honor of Dan Nimer” (Ed. Gerald Smith, Emerald Publishing, Fall 2012) will include book chapters authored by him. Navdeep teaches pricing management at the University of St. Thomas and is a frequent speaker at pricing conferences, company meets, and industry associations. Navdeep has an MBA from Georgetown University. He is based in the Twin Cities and can be reached at Navdeep@SodhiPricing.com.