Structured Approach to Effective Price Increase Execution PPT
This PPT slide, part of the 23-slide Best Practices in Price Increase Execution PowerPoint presentation, outlines a structured approach to executing price increases, emphasizing the necessity of a disciplined work plan. It is divided into 3 main phases: Preparation, Communication, and Execution, each with specific tasks and timelines.
In the Preparation phase, which occurs within one month of deciding on a price increase, several critical activities are highlighted. These include developing a list of frequently asked questions to assist both customers and the sales force, creating a sales force toolbox, and conducting training sessions. Additionally, crafting a communication plan and issuing early communications to the market and customers are essential steps. Gathering account profitability and pricing history data is also crucial for informed decision-making.
The Communication phase spans from the announcement of the price increase to its implementation, typically lasting between half a month to one month. Key actions in this phase involve developing incentives, rolling out communications to customers, and tracking customer and competitive activities. It’s important to execute contingency plans if necessary, ensuring that the organization remains agile in response to market reactions.
Finally, the Execution phase, which lasts from one to 2 months, focuses on maintaining momentum post-announcement. This includes publishing weekly updates for the sales force, issuing communications as needed, and conducting price increase updates for management. The slide stresses that as situations evolve, timely communication to both customers and the market is vital for successful implementation.
Overall, this structured approach not only prepares the organization for a price increase, but also ensures that all stakeholders are informed and engaged throughout the process, ultimately supporting a smoother transition and minimizing disruption.
This slide is part of the Best Practices in Price Increase Execution PowerPoint presentation.
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