Overview

A global medical products manufacturer sought to strengthen its pricing strategy to support growth in new product launches. While existing contract-based sales provided stability, they also limited growth potential. To drive future revenue, the company needed to better understand how pricing and non-price factors influenced customer decisions and how to position new products for success in a competitive healthcare environment.

Challenge

The company’s current pricing approach was effective for established contracts but lacked agility and insight for new product launches. Key challenges included:

• Limited understanding of how customers balance price, quality, and performance attributes
• Uncertainty around which value drivers most influenced purchasing decisions
• Need for a structured pricing process that aligned with the company’s growth and innovation strategy
• Lack of internal alignment and tools to support a consistent, data-driven pricing framework

Approach

We designed a phased Pricing Diagnostic and Strategy Development Program to uncover value drivers and build pricing discipline.

• Conducted a value-based pricing workshop for key commercial stakeholders
• Performed interviews and surveys with internal teams across sales, marketing, and corporate strategy
• Reviewed historical data to analyze the relationship between pricing, customer attributes, and sales performance
• Benchmarked pricing practices against best-in-class organizations

Solution

Our team developed a comprehensive pricing maturity assessment and roadmap to guide transformation.

• Created a scorecard evaluating pricing infrastructure, processes, and tools across 10 key dimensions
• Conducted price/value mapping to identify how customer perceptions align with competitive positioning
• Introduced a Value-Based Pricing Playbook covering:
  • Setting and changing prices
  • Managing price deviations and communication
  • Reviewing and benchmarking pricing policies
  • Evaluating leadership and followership pricing strategies
• Defined Key Performance Indicators (KPIs) to track revenue impact and pricing performance of sales reps across the contiguous US

Results

• Delivered a diagnostic report and benchmark analysis outlining the company’s current pricing maturity
• Identified gaps and quick-win opportunities to improve profitability and pricing consistency
• Developed an actionable pricing roadmap to guide future product launches
• Strengthened cross-functional alignment on pricing objectives and governance

Impact

The engagement enabled the organization to move from reactive pricing toward a structured, insight-driven pricing process.
By clarifying customer decision criteria and aligning pricing policies with value delivery, the company positioned itself to capture greater value from new product introductions and achieve sustainable growth in a mature, contract-driven GPO markets.