Strategic Alignment is Critical to Pricing Outcomes - Use a Strategic Choice Cascade to Frame Pricing Decisions
Karen Chiang is a Managing Partner at Ibbaka. See her Skill Profile on Ibbaka Talent.
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Having all your internal stakeholders aligned is critical to the execution of your pricing strategy. Without alignment, the best strategy will not achieve its intended outcomes. Making choices out of context can lead to misallocation of resources, confusion, and even contradictions. You want your team to work in concert with each other rather than in conflict with competing priorities.
At Ibbaka, we have developed a framework to help senior-level executives make the choice decisions that will bring their team to alignment as they shape their organization’s pricing strategy. Putting decisions in an organized way makes it easier to achieve alignment while fostering better execution of goals.
I’m excited to be able to help participants who will be attending our PPS Workshop to work through the framework.
Pricing is a powerful lever. It can do many things, but not everything at once. Alignment on pricing goals and the strategic choices you make are critical to achieving intended outcomes. We based our framework on Roger Martin’s Strategic Choice Cascade which we have focused on pricing strategy.
Adoption of the framework will afford:
The ability to communicate and defend your choices
The ability to track the outcomes of your choices so you can effectively evolve your tactics
Alignment on decisions to pave the way for solid execution.
As we work through each of the elements of the cascade, we are able to rationalize and make key decisions that will impact other choices.
We will be covering each of these elements (what they are, what are the considerations to think about to make these choices, and what information we can leverage to make informed decisions) over the next few weeks with a series of blogs.
Download the Strategic Choice Cascade for Pricing Framing Tool.
