Major provider of Genomic analysis products unlocking ground-breaking research and development within Life Sciences
Prices increased by 35-60% without material volume decline
Dramatically increased confidence in own value and prices
We interviewed key stakeholders across various functions, to gain a baseline understanding of the products and commercial landscape. The complex and high-precision nature of the product made this step particularly important in this case.
We designed and released a survey to understand:
During the pricing and discounted review, we conducted a price and discount review of all accounts purchasing products to identify customers underpaying versus their peers.
We benchmarked product configurations across competitors to develop a like-for-like offering to calibrate prices.
The main project deliverable was a Custom Price Quoting (CPQ) tool to generate a price for any combination of component inputs, with rules set to determine premiums based on product and customer dimensions. The tool was calibrated to generate prices at the correct positioning to competitors and allows salespeople to quickly generate a quote for highly customised products which was not possible before.
We have worked with the client in several continuation projects and the CPQ tool is a fundamental part of their pricing and sales process today.