Manufacturers who understand and quantify the true value of their offerings are getting ahead in today’s competitive market. They are successfully setting higher and premium prices, differentiating from competitors, and improving profitability through value-based pricing. What are their best practices and strategies for pricing excellence?

In May, keynote speakers from Valuebizbooster, Bayer Crop Science, Ericsson, Flintfox, Schneider Electric, PROS, Zilliant, Bosch Rexroth, Ducker Carlisle, Accenture, and Dormakaba gathered in Stuttgart at the 2024 Manufacturing Pricing Excellence Power of 50 conference to share their expertise and unique insights into:

1. Navigating Price Volatility in Turbulent Markets
Experts agree that agility and foresight are the core aspects of successfully executing your pricing strategy in today’s changing market. Together, we explored best practices for creating dynamic pricing models that can swiftly adapt to fluctuating raw material costs, geopolitical uncertainties, and changing consumer behavior all while maintaining profitability.

2. Embracing Value-Based Pricing
We also discussed the benefits and challenges of moving beyond traditional pricing models that are based only on production costs and market trends. As customers seek value and solutions rather than low prices, transitioning to value-based pricing is the most favorable strategy for manufacturers. It helps organizations understand what customers need and value, and that is the key driver to sustained growth.

3. Overcoming Internal Pricing Silos
For pricing strategies to succeed, it’s vital for everyone in the organization to communicate and collaborate internally, to exchange relevant data that will impact the pricing decision. Our expert guests revealed the most effective ways to break down organizational silos, foster cross-functional collaboration, and thus devise pricing strategies that are cohesive, comprehensive, and complete.

Thank you to everyone who attended and made the 2024 Manufacturing Pricing Excellence Power of 50 a true success!

Sincerely,

Lisa Hellqvist
Managing Director
Copperberg