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PRICING AND VALUE SELLING
BACKGROUND
- Specialty chemical manufacturer
- Was losing sales in a key product segment to competitors who did not have a superior cost position
INITIATIVES
- Analyzed situation and found that many sales were lost due to cumbersome process for approving price discounts in competitive situations; also found that available market intelligence on pricing and competitor activity was not being used to make decisions
- Trained sales force on key value issues for this product segment
- Developed a tool to simplify sales reps’ pricing decisions
RESULTS
- Revenues and gross margins in this segment increased by over 40% within 8 months
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