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Are You Being Intelligent About Your Pricing? | Industrial Distribution

In today’s age of e-commerce, consumer-like buying behavior is increasingly seeping into B2B procurement. Buyers are constantly vetting their options – making sure they are getting the best price, at the best time, on the best products. It’s a reality that makes it important for distributors not only to know what their competitors are carrying, but also what they are charging, even if it is a list price.

Offering the wrong assortment, or offering the right assortment of products, but at the wrong price, can have immediate and severe ramifications.

In cases where deals are mostly closed behind a handshake, sales people may undervalue their product to ensure a booking. The absence of accurate pricing intelligence and guidelines result in a lot of value being left on the table.

In other cases where transactions are done via a login, the complex mix of categories with large and geographically scattered pricing and merchandising teams create a hurdle. Until recently, most distributors relied on the sales team’s gut and anecdotal evidence to inform their pricing decisions.  However, with the advent of e-commerce, pressure to be more competitively priced increased.

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Are You Being Intelligent About Your Pricing?.

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