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The Critical Variables in Service Parts Pricing: Understanding Willingness-to-Pay

Service parts manufacturers and distributors consistently customize and adjust their pricing for various reasons:

  • Certain products demand a premium over others.
  • Different regions have varying competitive landscapes.
  • Contracts expire under varying circumstances.

Whether you rely on a centralized price matrix with customized exceptions or a totally autonomous sales force, understanding the willingness-to-pay of your customers under various conditions can be a source of significantly increased profits. And, the use of new software technology based on scientific analytics can help you exploit this opportunity in a practical and affordable way.

At PROS, we offer proven pricing technology and an unmatched track record of success in helping service parts manufacturers and distributors achieve outstanding returns through a greater understanding of their customers’ willingness-to-pay. 

PROS Enables Service Parts Companies with Analytics, Automation, and Prescriptive Intelligence

  • Move from “cost-plus” to value pricing
  • Use prescriptive pricing based on willingness-to-pay produced results
  • Estimate willingness-to-pay using win-only data
  • Achieve outstanding returns
  • Gain a greater understanding of your customers’ needs

Master Your Sales with Pricing Guidance 

For more information on how to master your sales with pricing guidance, download this white paper. You will learn about how to determine willingness-to-pay as a service parts company. You will also learn about segmentation and normalization, and how to start with your own data. You will gain an understanding of how to use sales transaction analysis to estimate willingness-to-pay. Lastly, you will be able to comprehend why willingness-to-pay helps boost profits. 

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