Pricing Strategy Audit

A pricing strategy audit is a systematic and independent examination of your company's pricing capabilities vs. industry best practices. A pricing strategy audit focuses on understanding key aspects of the business that impact pricing performance. Primarily, a pricing audit will assess your company's pricing processes, from setting prices for new products, to the ongoing management of prices and discounts. A pricing audit will typically include analysis on cost to serve, competitive positioning, market segmentation, customer value and sales processes. The goal is to identify, quantify and prioritize key opportunity areas in order to develop a highly executable short, medium and long-term roadmap for your organization to boost growth and profitability.

Objectives

Assess your company's pricing capabilities
Identify key pricing improvement opportunities
Determine the financial benefits of improving the organization's pricing capabilities
Prioritize key pricing opportunities
Develop execution plan

Outcomes

Detailed assessments of your organization's pricing capabilities across a range of dimensions
A business case that outlines the financial impact of improving pricing capabilities
An implementation roadmap that prioritizes short, medium and long term opportunities

ROI

The impact of a well executed pricing strategy audit can be significant.
We have seen returns on investment of 10x - 30x through improvements in organizational alignment and through the implementation of new processes that drive accountability across the organization

Watch Outs

Realize that an audit is only the first step of several steps that organizations need to take to improve their pricing capabilities
You will need senior level and functional area support as pricing recommenda-tions impact different parts of the organization