Pricing guidance is transforming how food manufacturers address revenue, profitability, and performance growth. Smart food companies are turning to data science-driven pricing guidance to tap into the unprecedented amounts of data available across the whole food chain in order to grow revenue, boost profitability, and gain customer loyalty.
Despite the benefits, some organizations in the food industry haven’t adopted dynamic pricing guidance technology yet. This eBook explores the nine myths that are keeping them from realizing their true revenue potential.
9 Myths about Food Manufacturing Pricing Guidance
- Price elasticity applies to negotiated B2B sales.
- Our pricing is beyond our control – we’re at the mercy of the market and competitors.
- Cost-plus accounting and pricing models are fine.
- Killer spreadsheets are all you need for pricing excellence.
- A pricing policy and pricing excellence are the same thing.
- You have to choose between market share and profitability.
- Pricing guidance brings more oversight and reduces responsiveness to customers.
- Pricing guidance is disconnected from market realities.
- Salespeople don’t want to achieve pricing excellence.
About this eBook
In this eBook, you will learn how to drive true digital transformation with pricing guidance as well as gain a deeper understanding of this technology. You will additionally understand resistance to change and specifically, why salespeople traditionally resist pricing guidance. Through this eBook, you will gain 5 tips for a successful pricing guidance implementation.
Other Relevant Resources
- Executive Brief: Transforming the End-to-End Sales Process in the Food Industry
- Industry Brief: Rethinking Pricing, Revenue, and Profits in the Food Industry
- Solutions Brief: The PROS Commerce Platform for the Food Industry
- Video: Preparing for the New Normal in the Food Industry
- Video: Using Technology to Improve Margins in the Food Industry
- Blog Post: 3 Ways Food and Beverage Distributors Can Take Control of Pricing
For more information on how to master your sales with pricing guidance, download this eBook.