The Science Behind Competitive Pricing in a Business-to-Business Market
Workshop B
Wednesday, Oct. 3
9 a.m.-Noon
Does your company respond to hundreds of “request for bid” opportunities a year? If so, does your sales team have the analytical tools needed to provide them with needed information, such as the probability for winning the bid opportunity for any given price, customer segment, and competitive setting? Does your team know, for each bid opportunity, the best price response that will maximize the expected profits for your firm? Can you analytically measure the brand premium your product commands over your competitors’ products? Step behind the curtains of some of today’s most advance pricing software solutions and examine the fundamental technology that enables a firm to answer the questions raised above.
Get “hands-on” practice with using some of most common price-optimization models, which are typically treated as a “black box” solution by the leading software providers. Gain a better understanding of the science behind the software solutions to better position your company to make a knowledgeable selection between software providers or get maximum benefit from the one you have.
In this workshop, you will learn:
- How to use historical win/loss data to determine the probability of winning a bid for any given price
- How to use these probability models to optimize your price response to future bid opportunities
- Some proven change management techniques to overcome the reluctance of your sales force to accept more analytical models for pricing
- How to demonstrate the value of using price-optimization on your historical win/loss data
Instructor:
Mark Ferguson, Associate Professor, Georgia Institute of Technology
Keep me posted with conference news.
Enter e-mail address:
|
|
|
|
