A lot of the traditional marketers have been seen to struggle in the ongoing digital age. This is because many of them continue using a relationship- based model. Such companies, especially for those in the medical- technology sphere, can ace the market by the proficient use of business analytics. This will also enable the real- time resetting of price targets, based on the actual inputs. The leadership though needs to ensure that the data warehousing done must be clean, so the resulting insights are closer to accuracy. This dynamic pricing will work best if three related elements work in coherence. The first of them is related to technology, so includes the analytics mentioned, plus the IT infrastructure and systems. Another is the organization structure. And thirdly, it is about the human resources. This includes the mindset, capacity building initiatives, and the staff behaviors.

Source:https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/what-really-matters-in-b2b-dynamic-pricing

Uploaded Date:15 June 2019