As quoted from the report:
“Achieving pricing excellence is complex. It can begin with a basic review of customer or product profitability. But to achieve pricing excellence there is much more to consider…”
A 1% price increase is said to impact operating profit by 11%. Thus, in a competitive market, getting the price right could open up opportunities for companies to significantly boost its revenues. In this study, PwC asked over 500 specialists from companies across all industries around the globe on their pricing approach.