Managing pricing is one of the best but least utilized improvement strategies. Most of the pricing projects failed or did not take off, though an effective price management proved essential in the current connected economy. People still depend on old traditional pricing strategies. Exorbitance of the pricing products and endless consultancies are the key reasons behind it. Another factor is the uneasiness of shifting to an entirely new paradigm. Moreover, most of the current pricing strategies are often confusing which makes it difficult for the sales team to optimize profits and give competitors a chance to undercut their prices. The hassle of downloading data is yet another hurdle that results in missing out on deals and opportunities.
A research of pricing managers, price analyst and consultants from SAP customers shows a gap between their current scenario and expectation.
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