Insights

The Critical Variables in Service Parts Pricing: Understanding Willingness-to-Pay

Service parts manufacturers and distributors consistently customize and adjust their pricing for various reasons:

  • Certain products demand a premium over others.
  • Different regions have varying competitive landscapes.
  • Contracts expire under varying circumstances.

Whether you rely on a centralized price matrix with customized exceptions or a totally autonomous sales force, understanding the willingness-to-pay of your customers under various conditions can be a source of significantly increased profits. And, the use of new software technology based on scientific analytics can help you exploit this opportunity in a practical and affordable way.

At PROS, we offer proven pricing technology and an unmatched track record of success in helping service parts manufacturers and distributors achieve outstanding returns through a greater understanding of their customers’ willingness-to-pay. 

PROS Enables Service Parts Companies with Analytics, Automation, and Prescriptive Intelligence

  • Move from “cost-plus” to value pricing
  • Use prescriptive pricing based on willingness-to-pay produced results
  • Estimate willingness-to-pay using win-only data
  • Achieve outstanding returns
  • Gain a greater understanding of your customers’ needs

Master Your Sales with Pricing Guidance 

For more information on how to master your sales with pricing guidance, download this white paper. You will learn about how to determine willingness-to-pay as a service parts company. You will also learn about segmentation and normalization, and how to start with your own data. You will gain an understanding of how to use sales transaction analysis to estimate willingness-to-pay. Lastly, you will be able to comprehend why willingness-to-pay helps boost profits. 

Other Resources for You

Other content in this Stream

Empowering Manufacturers: AI-powered Pricing Strategies with Rebate Management

Learn how AI-powered pricing and rebate management help manufacturers boost revenue, strengthen customer ties, and enhance efficiency in a volatile market.

White Papers

Offer and Order – Looking to 2025 and beyond

The airline industry is advancing towards modern retailing. This whitepaper by Travel in Motion and PROS explores the transition to Offers and Orders, with insights from Air Europa, and Lufthansa.

White Papers

PROS and Skyscanner: Guide to Offer Optimization via Metasearch

Unlock the potential of metasearch engines for modern airline retailing with PROS and Skyscanner. Optimize offers and expand market reach, enhancing the traveler experience and driving revenue.

Airline RetailAirline RetailingAirlinesWhite Papers

Empowering Manufacturers: AI-powered Pricing Strategies with Rebate Management

Learn how AI-powered pricing and rebate management help manufacturers boost revenue, strengthen customer ties, and enhance efficiency in a volatile market.

White Papers

The Existence of a Positive-Sum Game Among Airlines

PROS' Michael Wu summarizes COVID Task Force work and brings a call to action.

White Papers

Pricing is Key to Digital Selling Maturity

Download this White Paper to learn more about how to take advantage of AI and the increased affordability and fast payback of price optimization technology.

Digital Business TransformationPricing StrategyWhite Papers