Feb 25, 2019
Why you have to check out today’s podcast:
- Understand pricing in procurement
- How to lower procurement time in half, and cut costs like a pro
- How to price your product: what you need to know before you launch
Maree McMinn, known as the Pricing Rebel, is a pricing practitioner for about 12 years. Currently, she’s the Indirect Procurement Manager of Valvoline.
Maree has experience across a wide variety of industries including consumer packaged goods, retail, distribution, manufacturing, and software. She's built several disciplines from the ground up including, pricing, competitive intelligence, business intelligence, supplier diversity, and indirect procurement.
In this episode, Maree shares her pricing experience, how this helps her the procurement process and how it benefits her to make the best pricing decisions.
“You have to understand what people's reference prices are. Quite frankly, do nothing as your competitor.”
- Maree McMinn
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Topics Covered:
01:35 - Maree tells #pricingrebel's backstory, what it is all about and how it began
02:26 - She shares how her pricing career started
04:36 - Her transition to procurement side
07:02- Mark perspective regarding value vs. pricing in terms of procurement
10:05 - The good side of procurement besides price negotiation
13:00 - The success story behind Maree’s pricing career
12:25 - Her experience implementing new or pricing business model
18:29 - Maree’s thought on the biggest problem of a company in terms of pricing
20:46 - Her piece of advice to companies to have an impact
Key Takeaways:
“We get to a better solution because I bring them innovation, not just the price.”- Maree McMinn
“Thinking about SKU rationalization. Trying to shoehorn what they did before and into a new solution, your breaking it apart and helping the organization think through.” - Maree McMinn
“One of the things company is doing very poorly is think about price before they think about the product.” - Maree McMinn
Resources:
Connect with Maree McMinn:
- msquaredww.com
- Email: maree@msquaredww.com
Connect with Mark Stiving
Hey Pricing Practitioners, have the chance to get Impact Pricing: Your Blueprint for Driving Profits
Just Answer the Question: What is Value?
(Post your answer at Mark's LinkedIn designated Post)