How to Overcome Pricing Challenges through the Use of Process Improvement Methodologies
There continues to be a lack of consensus regarding how our economy will unfold upon recovering from the global recession. The way that the economy recovers will have certain implications for pricing for organizations. In this Profit through Process Podcast, Genna Weiss of Six Sigma IQ speaks with Joseph V. Marigliano, a Partner at Transcend Strategic Consulting, a firm specializing in price/value management and financial engineering. Marigliano discusses these economic projections and their bearings on pricing. He then reveals ways to protect pricing in the new economy using process improvement methodologies.
Marigliano brings to light the challenges that organizations will continue to face in this new economy, such as: generating enough revenue to cover fixed costs, understanding the shift in your customer and product profitability, maintaining discount discipline, and keeping your management team aware of its customer and what he or she values. You will learn the critical pricing metrics—which include degree of discount performance—that your organization must get right in order to protect its profits. In addition, Marigliano provides examples of how the process improvement methodology, Six Sigma, can actually assist your organization with effective discounting both from a process discipline and process effectiveness standpoint, as well as with value delivery to your customer.