Pricing Structure - How To Create A Pricing Structure For Your Business In 5 Easy Steps

A major development in Australian business in 2018-19 is re-designing a more sophisticated pricing structure to collect more revenue across different customer and price segments.

Many Australian businesses have been experiencing a series of pricing errors due to a legacy pricing structure, which is causing substantial margin erosion:

Customers are increasingly employing procurement teams to identify price inconsistencies.
Consumers are quick to demand discounts or credits as compensation for advertised pricing mistakes.
Sales teams are losing confidence in pricing structures because they are often complicated, hard to understand or misaligned to market expectations

In this article, we will explain what a pricing structure is and how a good pricing structure can dramatically help your sales teams improve pricing decisions in the following ways:

Real world industry examples, including different types of pricing structure in B2C airline flight ticket prices, electricity / energy and B2B industrial.
A detailed checklist and tips on how to develop a sophisticated pricing structure for your business that takes into account industry nuances.
An evaluation of pricing department structure and team role requirements for strategic pricing work like pricing structure redesign.

Read the full post here:

https://taylorwells.com.au/pricing-structure/