Case Study | Driving Pricing Transformation for Chemicals Company

CLIENT

Chemicals Company

INDUSTRY

Chemicals

CONSULTANT ROLE

Pricing Consultant

LOCATION

Belgium

The Challenge

Outdated Pricing Tools

The client, a leading chemical company based in Belgium, was looking for the support of a pricing consultant to design and implement dynamic pricing. The consultant would be responsible for reviewing existing pricing mechanisms, implementing dynamic pricing initiatives and tracking the impact of the new initiatives.

Role of Consultport

Consultport proposed 3 strong candidates within 48 hours. The client interviewed 2 candidates and selected a former senior consultant at Simon-Kucher with extensive project experiences driving pricing transformation. The consultant started working with the client 5 days after the initial request.

Approach

Strategy Review & Design

The consultant began by analyzing the existing pricing methods to identify gaps and areas for improvement. Leveraging expertise in pricing analytics, the consultant then developed and tested pricing hypotheses to determine the ideal strategy moving forward.

Solution

Dynamic Pricing Solution

The consultant designed and implemented a dynamic pricing solution along with user training manuals and governance structures to ensure usage by internal sales organizations.

For instance, the consultant worked with the client’s data team to develop a prototype of an algorithm-based pricing model and set up a tracking system for crucial pricing KPIs.

The consultant also launched a company-wide workshop and several small training sessions to educate team members on the new pricing tools and methodologies.

Results

Enhanced Pricing Capabilities & Team Alignment

The pricing initiatives significantly boosted the client’s capabilities to navigate complex pricing challenges. With the algorithm-based pricing model and robust KPI tracking system, the client could make informed business decisions with enhanced pricing analytics.

The consultant’s collaborative approach through workshops and training sessions also garnered support from team members, leading to improved understanding and reduced resistance.