Case Study: Price Setting – Specialty Lighting Manufacturer
Challenge: A specialty lighting manufacturer was launching a revolutionary new approach for lighting control which involved new equipment, software, and communication technology, and sought to define its price levels, structure, and discounting policy.
Approach: The specialty lighting manufacturer engaged Wiglaf Pricing to develop an exchange value model of their product in order to align their pricing with their customers’ willingness to pay.
This engagement is one we would currently refer to as a Delphi Pricing engagement.
Result: Wiglaf Pricing developed an exchange value model which reflected the value of the new control mechanism and equipment. The executives were able to clarify their launch pricing, communication strategy, and segmentation strategy.