Scientia Potentia Est

In part 2 of a 3-part series, pricing and procurement expert Raymond Augustin presents several methods for mapping and analyzing key processes, market factors and data points in order to make more informed pricing decisions.

“Back in 1597 Sir Francis Bacon opined that knowledge itself is power. And with the correct data, analytics, and a framework of key processes, it’s possible to leverage the knowledge of what a market competitive price should be to avoid overspending.”

Author Raymond Augustin is a recognized thought leader, specializing in pricing strategy. He has an active interest in the research of the psychology of price and pricing motivations.

Optimus et Ultima

 

Pricing and procurement expert, Raymond Augustin, provides valuable insight into the nuanced world of pricing.

In pricing and sales negotiations, the vast majority of people are haunted by the “ghost of prices past.” This is because the only method for truly determining if a price point is a market competitive price occurs at the transactional level, and this analysis requires real time knowledge of market conditions, product state, margin erosion, M&A activity, and at least 142 other measurable variables. So how can you know for certain that your price is competitive?

Author Raymond Augustin is a recognized thought leader, specializing in pricing strategy. He has an active interest in the research of the psychology of price and pricing motivations.

Webinar: Keys to Optimizing IT Spend

Now more than ever, businesses will need to do more with less as we continue to deal with difficult social and financial times.

In this webinar, hosted by our partner TribalWise, learn the keys to utilizing a proper procurement strategy to reduce and recover technology costs, optimize purchasing processes and improve organizational collaboration.

While focused on Tribal Business , the methods discussed – including effective strategic planning, vendor and technology management and procurement risk management – can be applied to any other industry.