With these three megatrends collectively impacting the industry, traditional pricing practices need to be revamped faster than ever. OEMs must gradually centralize all pricing activities and fundamentally innovate their pricing strategy and models, as well as their data and IT landscapes. Cumbersome price negotiations, gratuitous special discounts from salespeople, or staggered pricing approaches at different sales levels will become a thing of the past faster than most might anticipate today.
To keep up in today’s ever-changing marketplace, OEMs need to embark on a pricing transformation journey. It will be fueled by the advantages of e-commerce and direct sales, such as higher data availability and quantity. Advanced analytics and state-of-the-art software solutions that use this data will bring pricing to the next level and help OEMs better manage margin-volume trade-offs and win the customers of tomorrow.