+200 companies throughout Europe completed the PMI (Pricing Maturity Indicator), developed by the European Pricing Platform and PROS in the fall of 2015.
Today, we are very proud to present you the cumulative results of these companies in the '2nd Global Pricing Maturity Study 2016.
Here are some of the general findings:
- the overall pricing maturity is about the same score than the 2013 survey.
- the hightest score in this survey is given on 'price list management', the second highest score was for 'price governance', both of which are typical level 2 tasks in the pricing maturity levels.
- there is a relatively low score for 'price reporting'
- only 29% of companies are still giving local sales organisations full freedom to determine their local market prices. At the same time there is important lack of discount discipline in the sales teams.
- the low score on 'Price Strategy' indicates that pricing managers are fully aware of their struggle to 'get the price policy implemented'.
- the typical 'level 3 maturity' challenges, such as 'understanding price elasticity' and 'understanding willingness to pay' have the lowest score. It's clearly a level most companies have not yet reached.
Want to see the in-depth analysis of these findings? You can find the full report on SlideShare.
'Only 45% of the companies in this survey do not (yet) have a vision about how to develop the pricing skills and maturity in their organisation. That's a huge concern.', says Pol Vanaerde, President EPP
Feel free to make the survey yourself as it is still online: www.pricingmaturity.eu. You'll receive your individual report right away.
The Certified Pricing Manager programme (CPM) is developed by EPP and is the global standard of certification for today's pricing leaders. The programme is built around the skill cards of pricing maturity in your company. ROI of the programme is min. 10x the investment with certification based on real business project success. You can find more information on the programme here.
For those of you based in Australia, we just want to let you know that the Australian Pricing Summit will be held on April 27-29, 2016 in Sydney.
The final agenda is now available.
The summit will serve as a proactive vantage point for more effective pricing strategies for any organisation that wants to get the pricing of their product right. With that in mind, savvy organisations understand that they need to become more innovative, develop better pricing approaches and make sure they are selling to the right customer at the right time for the right price.
The summit will focus on the following 3 key themes:
- implementing a clear pricing strategy that aligns with your business goals
- effectively using data and analytics to drive pricing strategy
- aligning your price to end user expectations
The Domain group have created a number of key principles to underpin their value-based pricing
strategy. In January 2016 the Domain Group rolled out their new pricing model. This was off the
back of a review and reset of their pricing strategy 6 months ago which already saw improvements
in yields, reduced discounting and consistency in how they price their products.
Read all about it in the article.
Interested? Read all about the Australian Pricing Summit here.
And profit from an additional discount of 10% on the EARLY BIRD rate by using the code EPP10 when registering. To receive this rate, call (02)9229 1000 or mail to firstname.lastname@example.org using the discount code.