Value First then Price: Quantifying value in Business to Business markets from the perspective of both buyers and sellers

Description

Winner of the Overall Case Award 2014 The Case Centre best selling case 2013 - 2017 Value-based pricing—pricing a product according to its value to the customer rather than its cost—is the most effective and profitable pricing strategy. Buyers need to evaluate the monetary benefits of a product against the price of its competitors. Sellers justify their price points through documenting the value of a product, emphasising its superiority against competitors and therefore justifying the premium price. Value First then Price is an innovative collection which proposes a quantitative methodology to value pricing, and road-tests this methodology through a wide variety of real-life industrial cases. It provides a state-of-the art and best practice overview of how leading companies quantify and document value to customers. In doing so, this book provides researchers with a method by which to draw invaluable data-driven conclusions, and sales and marketing managers the theories and best practices they need to quantify the value of their products to demanding, hard-nosed industrial purchasers. With contributions from global industry experts this book provides cutting edge research on value quantification and value quantification capabilities with real-life, practical examples. It will be essential reading for sales and pricing specialists as well as business strategists, in both research and practice. Cover Half Title Title Copyright Contents List of editors List of contributors Part I Introduction 1 Introduction Quantifying and documenting value in business markets Part II Selling value Value quantification capabilities 2 Value first, then price The new paradigm of B2B buying and selling 3 Interview Processes and capabilities for value quantification 4 Muddling through on customer value in business markets? 5 Interview Nurturing value quantification capabilities in strategic account managers 6 Salesforce confidence and proficiency – the main cornerstone of effective customer value management Part III Selling value – best practices in value quantification 7 Value quantification – processes and best practices to document and quantify value in B2B1 8 Quantifying your value so customers are willing and able to pay for it 9 An inside look at value quantification of competitive advantages How industry leaders prove value to their customers 10 Quantifying the value of services 11 Quantifying intangible benefits Best practices to increase willingness to pay while creating longer-lasting customer relationships 12 Toward a shared understanding of value in B2B exchange Discovering, selecting, quantifying, and sharing value Part IV Buying on value – value quantification and B2B purchasing 13 Value first, cost later Total value contribution as a new approach to sourcing decisions 14 Interview Selling value to purchasing 15 Using best value to get the best bottom line 16 Value selling The crucial importance of access to decision makers from the procurement perspective 17 The sourcing continuum to achieve collaboration and value1 Part V Value quantification and organizational change management 18 Interview Implementing value quantificationin B2B 19 Interview The ring of truth – value quantification in B2B services Part VI Buying and selling on value –value quantification tools 20 A question of value Customer value mapping versus economic value modeling1 21 Why start-ups should consider using value propositions 22 Creating and sustaining competitive advantage through documented total cost savings Part VII Epilogue 23 A call to action Value quantification in B2B buying and selling 24 Quotes and statistics to help you on your value-selling journey 25 Interview The present and future of value quantification Index