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Who Is In Charge of Value? | Intuit News Central

If everyone owns something, no one does. No one has an incentive to protect and maintain the value of the asset in question.

Pricing is far too important to the viability of the company to be left to mediocre pricers. No other area—not cost cutting, efficiency increases or growth – can have as large an impact on profitability as pricing does.

It is time for organizations to recognize that if they are serious about pricing commensurate with the value they create, they need to establish a core group of enthusiastic pricers to establish pricing as a core competency within the firm.

A CVO must have demonstrable leadership skills, while also commanding respect and creditability across multiple functions within the firm. They will be responsible for communicating the importance of pricing and value to the media, thereby negating price wars within the industry.

Attitude

The CVO has to view pricing as an enormous opportunity for the firm to create and capture value, rather than a limitation imposed on them by the market, which they have no control over, just like the weather. Pricing is far too important to assign to narrow minds. Pricers have to be intellectually curious, constantly learning, reading and studying why humans behave the way they do.

Look for a CVO who is moving through the five levels of learning: awareness, awkwardness, application, assimilation and art. Pricing is an iterative process of the mind and it will always require human judgment.

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Who Is In Charge of Value?

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