OnDemand WTP Pricing Research

Pricer’s Points: Building career as a Pricing Professional | Mithalesh(Jimmi) Kumar

Trustworthiness is a key to success for any pricing professional.  If you aren’t viewed as trustworthy, you won’t be taken seriously and will suffer from a lack of power and control.  You won’t have proper resources at your disposal to get a job done right.  To create and implement good pricing strategy and tactics, you need to be high performing consultant to sales, marketing, field support and finance or you won’t be able to make pricing function a profit powerhouse.

Successful pricing leaders have gotten ahead of the need to develop pricing positions and have developed high performing partnerships with sales and finance. They’ve won the support and are backed up by their senior executives. I remember, it took me 7 months in successful retail company to get a pat on the back from my COO who was skeptical about pricing function. Don’t get me wrong here, he/she was extremely supportive of me but when senior leadership starts trusting/believing in pricing function that’s when you know you are on the right track.

Pricing professional that aren’t credible are frustrated that people don’t listen to them.  This gets in the way of executing effective pricing.  A successful pricing strategy makes sure salespeople are selling rather than discounting and it makes sure that our costs are in line and are being viewed properly when it comes to setting price. It’s is when your customer starts valuing your product/services.

Read complete article here:

Building career as a Pricing Professional | Mithalesh(Jimmi) Kumar | LinkedIn.

Mithalesh(Jimmi) Kumar

Director of Pricing at Option Care