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Healthcare industry purchases

What to do when doctor preference doesn’t matter to procurement

If you’re in the medical manufacturing industry, over the last few years you’ve seen a big shift. Doctors are no longer calling the shots, at least when it comes to making purchasing decisions. Purchasing has shifted to procurement departments and GPOs that are hyper-focused on driving down costs, and sometimes it seems that quality is taken for granted. You don’t […]

The Grey Market Risk You CAN Avoid

Remember the dotcom era when everything was moving at a frenetic pace? It seemed like everywhere you turned, shady brokers were popping up overnight to take advantage of the new ecommerce and internet craze. Today, grey market risks for Original Equipment Manufacturers (OEMs) at times seem eerily similar. Just like that era, you may feel like there’s not much you […]

Shifting Pricing from Labor-Intensive to Strategically-Effective

For far too long, manufacturing and industrial distribution companies have dedicated resources and technology to achieve the goal of addressing price updates or change requests from their organization.  Their teams work long hours with disparate systems that have often been in place for decades to  satisfy the most basic requirement of executing price changes often with a basic Cost Plus […]

Building a Case for Pricing Improvement: How Do You Rally the Troops to Prioritize Pricing?

While attending a recent pricing conference, I had an interesting discussion with two pricing managers about the challenges they were encountering while trying to get their organization to focus more on pricing. The pricing managers were inspired by one of the conference presentations that was delivered by a PROS customer who happened to be from their industry.  The presenter had […]

Commodity is a Dirty Word

Too often in class a student will say “I have a commodity. The market sets my price.” This is almost never true. What’s worse is if you believe it, then you’ve given up trying to make higher profits using pricing techniques. If you believe your product is a commodity, then it is very likely that some market segment also believes […]

Why the Sales Experience Is Now the True Driver of Revenue Growth for Auto and Industrial Manufacturers

Manufacturing and automotive companies are increasingly focused on growth to stay ahead of the industry’s modern challenges. Global competition is changing the revenue generation landscape. The traditional route to meeting revenue goals has been investing in customer support, marketing, R&D activities and maintaining competitive pricing. Manufacturers are comfortable improving designs and getting products to market quicker, but they tend not […]

Pricing and Product Efficiency Challenges in the Med Tech Industry

Medical device price regulation is being threatened in India’s and Australia’s mixed private and public health care systems. In the U.S. Congress, a bill is being presented (although passage is far from certain) to create pharma and med devices price review panels in an attempt to end price gouging. This is a likely response to controversial price hikes for Daraprim […]

Value-Based Pricing: Lessons from Tesla on Monetizing Innovation

Last week Elon Musk sent a memo to all of his employees stating, “If you can’t explain to a customer who paid full price why another customer didn’t without being embarrassed, then it is not right.” That statement reflects both Tesla’s commitment to the customer experience and its confidence in value-based pricing for its unique products. According to Musk, Tesla […]

Waiting for the Lift: A Lesson on the Limitations of Rules-Based Software

I stayed in a hotel recently. This isn’t news, as I travel a lot. I’m usually pretty chill about most things that happen when living an airport-plane-uber-hotel-uber-office-airport-plane lifestyle, but something happened on this trip that really annoyed me. Picture this: A hotel of 23 floors with five elevators with only two of them only go to Floor 18 or above. […]

Seth Godin is Wrong about Good, Better, Best

This post originally appeared on pragmaticpricing.com. For years I’ve read Seth Godin’s blog, daily. He is awesome. In all those years I’ve never disagreed with him… until recently. Seth’s blog from August 30, 2016, is titled “Features and Marginal Cost in the Digital Age”. He provided the argument that good, better, best for hardware products was based on the marginal cost […]