Product & Solution Information

Rethinking Pricing, Revenue and Profits in Manufacturing

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INDUSTRY BRIEF FOR MANUFACTURING INDUSTRY What Customers Say They Want from Manufacturers B2C Expectations Are Bleeding Into B2B Purchasers are now demanding that their suppliers provide the same ease of buying that they experience as consumers. Manufacturers and their distributors now have to compete on buying experience as well as price, delivery, and quality of product. The Amazon effect — where consumers are used to easily searching for products, comparing prices, viewing ratings and recommendations, and placing orders to receive within two days wherever they decide—is now permeating into the professional purchasing role. 4 Buyers Will Pay a Premium for Instant Pricing 7 Over 50% of buyers expect to receive pricing information in less than two hours. 50 % 66% said they would switch to a vendor offering real-time, personalized pricing. 66 % 61% would pay a price premium for an instant fair price instead of having to negotiate with a person even though they might be able to get a better price. . 61 % Recently, PROS conducted a study with procurement and purchasing professionals that buy from manufacturers. This study unveiled some valuable insights: 61% said they would be willing to pay 3-5% more to get pricing information instantly. 61 %

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