How to Handle Pricing Implementation During Inflation with Frederico Zornig

Frederico Zornig is the CEO of Quantiz Pricing Solutions – a pricing consultancy that aims to increase the profitability of their clients through strategies implementing improvements in the Pricing, Revenue Management and Commercial Excellence processes. He earned a PhD in Pricing from the International School of Management, and he was a professor for 11 years. Frederico initially fell in love with pricing while he was pursuing his MBA at the University of Illinois. It was 15 years ago when he decided to start his own consulting firm. In this episode, Frederico discusses insights you should take note of in terms of price implementation and inflation. He shares stories that illustrate how the price of your goods can totally make a difference to your business.   Why you have to check out today’s podcast: Discover how strategic pricing is critical to defining winners and losers in today's increasingly competitive environment Learn about price implementation and how to go about getting people to adopt new strategies Learn how you can handle pricing when inflation occurs   “Give price the importance it deserves. I have seen some companies not paying too much attention to the area, and I have seen companies that really believe that price can be a game changer.” – Frederico Zornig   Topics Covered: 01:34 – How did Frederico get into pricing and what is it that attracts him to keep going? 04:51 – The advantages of being a pricing person who got to lead sales and marketing as well 08:11 – The do’s on making people adopt new strategies and have them implemented in their company – the incentives and the importance of having a strategic commercial policy 14:43 – Companies focusing on revenue and not on profitability; measuring margin dollars instead of margin percentage 19:22 – In having sales compensation plans, how do we convince people to hold or negotiate price? 22:20 – Tips on how to handle pricing in the middle of inflation 25:53 – Having information about your competitors or none at all – not being afraid to raise in relation to volume 27:59 – What is Frederico’s advice that could be helpful to the listeners’ business?   Key Takeaways: “Pricing is a journey. I believe in that. The company has to go into that journey if they want to be really pricing experts or go after pricing excellence. It's not going to happen in one or two years.” – Frederico Zornig “The customers have to understand that if they behave the way we have the incentives created, they could benefit of that commercial policy.” – Frederico Zornig “If you create really strategic commercial policies, you can really change the way the market is built.” – Frederico Zornig “I always take inflation into consideration. If I'm not coping with inflation, I'm staying behind.” – Frederico Zornig “Companies that really understand the value and pursue a pricing discipline – a pricing focus – they could benefit enormously in terms of results. Big, big results.”– Frederico Zornig   People / Resources Mentioned: Quantiz Pricing Solutions: http://www.quantiz.com.br   Connect with Frederico Zornig: Website: http://www.quantiz.com.br LinkedIn: https://www.linkedin.com/in/fzornig/ Email: [email protected]   Connect with Mark Stiving: LinkedIn: https://www.linkedin.com/in/stiving/ Email: [email protected]