Let's Talk Pricing Podcast
Inflation & Beyond: Pricing Strategies for B2B Volatility
Aug 29, 2023
Learn about effective pricing strategies for B2B companies to navigate economic downturns, including the challenges and nuances in managing price decreases, adapting pricing goals and tactics during inflationary and deflation periods, the consequences of delaying price adjustments, and specific industries where decreasing prices over time are the norm.
21:30
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Quick takeaways
- Being prepared for industry-wide or global economic downturns is crucial for price professionals and B2B companies to maintain competitiveness.
- During deflationary times, pricing teams must focus on minimizing price decreases while monitoring market dynamics and maintaining competitiveness.
Deep dives
The Importance of Addressing Price Decreases
In this podcast episode, Barrett Thompson, a business solutions consultant, discusses why it is crucial for price professionals and B2B companies to prepare for and address the possibility of price decreases. He emphasizes that while most professionals have focused on managing price increases throughout their careers, it is essential to be prepared for the challenges of sustaining and navigating through industry-wide or global economic downturns. Thompson highlights the importance of being proactive and developing strategies for managing systematic and intelligent price decreases to avoid being caught off guard and to maintain competitiveness.
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