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Hello. 
And thank you. 

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All again for joining us for 
another episode of the 

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professional pricing Society 
podcast, my name is Terrance and

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we have a very informative 
conversation today, with one of 

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our PPS Euro, 22 conference 
speakers very special guest 

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today, sidebar just in case you 
are not aware PPS is conducting,

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their 17th annual European and 
Global conference in Barcelona 

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Spain. 
This upcoming December 7th 

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through the 9th. 
So if you still need to 

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register, Stir. 
You can do that by visiting our 

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website pricing Society.com /p P
s-- Euro 22. 

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Our speaker today is Larissa 
craft Pricing and profitability 

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management pricing Center of 
Excellence. 

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Set up rebate management, and 
ethical pricing this Larissa. 

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How are you doing today? 
I'm doing really well. 

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Thanks for having me Terrance. 
Good to be here. 

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Good! 
Good. 

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We're very excited to have you 
with us as well. 

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Today, now, we're going to go 
ahead and jump into our 

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conversation thinking about 
pricing as a function. 

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Where does this typically belong
in an organization who was 

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responsible for owning this? 
This particular aspect of 

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pricing, As a function. 
Well, Terrence, if you look at 

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the old classical marketing 
framework of for peace, what we 

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call it, right? 
So it is part of the marketing 

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organization and the classical 
way, but things change very 

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quickly and now I think pricing 
as a function has evolved over 

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time. 
So if pricing leaders must 

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influence, the long-term results
of a firm while, not impacting 

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competitive advantage in the 
industry and if the pricing 

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leaders communicate with all the
external and internal 

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stakeholders, and if And to make
sure everyone is well, informed 

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about the pricing and the 
strategy and what the pricing 

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team is trying to do how it 
performs to support commercial 

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teams and overall strategy of 
the firm, I believe, pricing for

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me, as a standalone function, at
the c-suite, level and lot. 

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Lost in finance accounting, 
marketing or sales in the 

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classical set up. 
So for me, pricings a standalone

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function, it does require a very
unique set of skills. 

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Skills and training and 
capability development. 

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Sure, sure, absolutely. 
Now, you know, thinking about 

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capability development, as you 
just mentioned training, 

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continuous, learning, and the 
pricing world. 

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Of course, all those things, all
those components are very 

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crucial. 
But when does it stop? 

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You have to kind of ask your ask
yourself. 

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The question. 
When does it ever kind of stop? 

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Well, actually, you know, it's 
good to be part of the 

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professional pricing Society 
conference in Barcelona this 

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year. 
And that's really a confirmation

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that actually capability 
development training. 

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Is learning in the pricing 
World, never stops because 

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things are moving and, you know,
always changing fast as the 

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organization is maturing from 
cost. 

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Plus two Dynamic pricing 
servitization is a big topic. 

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Now, in the pricing World 
pricing, folks must constantly, 

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learn develop and grow. 
So what our pricing strategy 

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Frameworks and roadmaps that 
should be developed by various 

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pricing strategies. 
Ever you did couple years ago, 

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it's not the same this year. 
Look, what's happening outside? 

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You know, in the economy, 
inflation turmoil, Etc. 

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So for me, that never never 
stops. 

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So, can in-depth overview of 
these Concepts and guidelines be

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provided. 
While assessing, you know, the 

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bottom line impact of these 
initiatives in The Firm. 

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It's one in a one-year is one 
strategy next year. 

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You should be really, really Dry
land, adopt another strategy. 

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So hands, you have to work on 
your capability development 

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training and continuous learning
in the pricing World. 

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Another big question for the 
pricing, folks always can affirm

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sustained competitive Advantage 
by applying various pricing 

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strategies pricing models and by
creating and selling products 

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with the improved pricing 
strategies that could sustain 

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the economic profit long-term 
so. 

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And to answer those types of 
questions you need to To focus 

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constantly on your capability 
development, training, 

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continuous, learning, and hence,
you always have to come to 

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professional pricing society and
work on your certification and 

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keep your skill set and 
knowledge up-to-date fully agree

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with you. 
And as you mentioned, you know, 

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capability development training,
continuous learning. 

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None of these components ever 
stop. 

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You know, it's an ongoing 
process just because pricing in 

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itself is is continually 
changing and evolving with the 

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with the Times. 
Now, when you speak about 

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capabilities, what exactly are 
the key capabilities? 

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You know? 
In order to be a very successful

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pricing leader in today's 
today's world. 

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Well, for me, first and foremost
is passion passion, and one more

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time, passion about pricing. 
Sure. 

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Absolutely. 
Have to be passionate about 

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pricing. 
You either love it or you hate 

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it. 
Yeah, once you love it, you 

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stuck in it for the rest of your
life. 

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And another big thing that 
pricing family is a very small 

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family, very focused because 
it's very unique, right? 

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So all of the things that you 
need to do in pricing and how 

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you take it to the next level. 
So what are the key capabilities

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is just some of you you know, 
already know them but I would 

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like to add couple additional 
ones because things are changing

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you know, price setting and 
price getting for me price 

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getting its you know, for your 
commercial teams really do. 

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Take your guidance from the 
price from folks and go out to 

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the market and get that price, 
right? 

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So for me, if you if you just 
what I call them, volume Junkies

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you just go out there. 
Anybody can be a volume junk, 

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you just go inside the volume, 
but when you start adding the 

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value piece to it, wow, that 
it's really you're demonstrating

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your capabilities. 
As I said, you know, successful 

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price getter yeah with the 
support of price Setter, you 

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know, the pricing department, so
price getting price setting. 

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Very, very important. 
Ain't that something that I'm 

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working with a lot of folks. 
And you know what, I teach at 

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the University's, another big 
thing is pricing process. 

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So that's a very important 
capability because what I'm 

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hearing more and more week 
processes are in place like of 

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ownership. 
People don't really know where 

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pricing process said, whether 
it's part of the sales process, 

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whether it's part of the 
integrated business planning or 

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either either is part of the 
order to cash. 

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Process. 
So a lot of questions and then 

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there is no one, clear answer. 
So you really need to see, you 

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know, what the industry is with 
product is what the services and

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really step back and say, okay, 
where am I pricing process sets 

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in my organization. 
So, and again, in order to 

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understand and own end-to-end 
process because there are so 

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many silos and you losing value 
as you go from one side with to 

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the other. 
So that capability of really 

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owning and understanding the 
Rising process is very, very, 

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very important. 
Yeah, sure. 

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Next thing their hands is very 
important is really how do you 

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get all your stakeholders in 
organization to get the right 

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level of decision support 
because he constantly you know, 

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leaving money on the table. 
So and again it's all about the 

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integrated approach agile 
approach really adjusting and 

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really getting your decision 
support at the right level the 

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right time. 
So then you You know, you 

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maximize your value, the next 
big thing, what I hear? 

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And what I see, really dealing 
with various folks out there in 

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the industries data data, 
hygiene pricing impact polluted,

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with other factors, you know? 
And so you know what, hands, 

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you're not getting the right 
pricing decision. 

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So, it's a very important 
capability data data, knowledge,

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data ownership, the data 
cleansing organization 

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day-to-day. 
Dictionary. 

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So, those are very important 
capabilities and you need, you 

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know, constant development 
around that topic. 

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Another one Terrance that comes 
to mind is really lack of 

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understanding of customer value 
drivers. 

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You know you don't really sit 
down and take the time to map 

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out all the key value drivers 
for your customers and clients 

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and and it does require special 
capability to deal with that. 

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The next one, I would like to 
talk About, you know, we are 

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becoming digital. 
Everything is digital what it 

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takes my 12 year old son to do 
in 5 minutes. 

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It takes me a couple hours to 
figure out dry to digital skill.

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Set is becoming more and more 
important in the present world. 

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You know, the pricing 
software's, implementation, 

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challenges, etc, etc. 
So digitization, digitalization 

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in the pricing world is absolute
must, and because things are 

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changing. 
So, Quickly, two technologies 

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are developing you continuously 
need to work on those 

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capabilities and really Master 
it and take it to the next 

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level. 
A couple other things to note 

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here, for our listeners 
sustainability is becoming a big

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Topic in the pricing world as 
well because what, we writing 

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research around and, you know, a
lot of surveys with the real 

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companies we're trying to 
understand The consumers are 

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really prepared to pay more for 
a sustainable product or service

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or less and how they really 
taking it within their firms. 

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And hence it's very important. 
The way pricing organization is 

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said, in terms of, you know, 
organizational, Savvy how it is 

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organized, how it is ingrained 
in their organization. 

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And hence, you do need to 
understand this organizational 

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ecosystem and hence, you need to
get that capability of me. 

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In the mapping your 
organizational ecosystem in your

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organization, you know, in the 
right way. 

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So it's very important. 
Okay. 

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Wow, that was a, that was a 
great amount of Jim's. 

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They're great amount of 
insightful pieces that kind of 

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go into the capabilities of it, 
is of a successful pricing 

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leader. 
Now, when you think about those 

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capabilities, you know, data, 
hygiene being value-driven 

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digitalization with those 
contribute to what you would 

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consider to be the best form of 
a pricing organization. 

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Absolutely. 
There are new forms of pricing 

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organizations evolving. 
So that's what we see in 

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reality, you know, running the 
research and working closely 

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with many organizations. 
So it's not anymore this, you 

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know, old way of hierarchical 
approach or Central pricing, 

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totally disconnected 
organization. 

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So you really looking at, you 
know, integrated forms of 

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pricing organizations. 
It's out there. 

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And then it's really important 
to look at your organization and

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the form that should produce the
most optimal pricing, 

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conclusions, and results for the
organization, right? 

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So during my workshop in 
Barcelona will be talking about 

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real case study from a real 
company that I helped set up. 

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The pricing Center of 
Excellence. 

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What we call C Oe What is a see 
pricing? 

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Co e. 
It's a center team in a central 

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team of skilled employees that 
provide shared resources. 

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Best practices expert Knowledge 
and Skills to make data 

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processing easier while changing
the skill set and capabilities. 

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It enables a digital way of 
working that contributes to 

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long-term, growth and Value 
Vision of the company. 

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So we will be talking this 
particular case. 

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D. 
That had three teams within the 

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Centre of Excellence for pricing
one was this on the project 

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management because we constantly
looking at new technologies and 

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pricing software's, right? 
So will you do need a very 

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strong project management Drive 
in their organization? 

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And there are two types of 
project management that this 

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particular company dealt with 
and pricing. 

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One type of project management 
when you deal with the software 

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implementation, that's, you 
know, gay To approach, right? 

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So traffic lights and how you 
really going through different 

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Gates on the project management 
and and how you value your 

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process and progress. 
And then there is another 

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project management that this 
particular company adopted, that

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was the agile scrum methodology.
And that's a two week, three 

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week, quick wins, 
implementations right under the 

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edge aisle approach. 
So it's a new thing out there 

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and it works very well for the 
price. 

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Racing team as well for various 
smaller types of projects, quick

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wins and quick reactions, right 
to what we need. 

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So that's one team on the center
of excellence. 

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The second team is the process 
team, so that that team will be 

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dealing with. 
I was dealing for in this 

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particular case, the real case 
study. 

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So process team is really 
mapping out and to end the whole

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pricing process, where it sits. 
So really eliminating all the 

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silos automating things. 
Along the line of this process 

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where you have the repetitive 
tasks. 

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We used our PA creation that 
robotic automation technology. 

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Right rpas, animation also chat 
Bots for certain things and the 

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customers come in. 
So you don't have to really 

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repetitively pick up the phone 
or answer, email whatever. 

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So we also call chatbots, we set
up throughout this team to 

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improve the process and also 
some AI. 

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II solutions that set in this 
team also to help the process be

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you know, more robust agile fast
and the third team in the center

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of excellence for pricing that 
we set up was data and Reporting

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team. 
So the data team is really 

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creating the dictionary glossary
rules for data cleansing 

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management of the master data 
and then translate it into the 

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reporting kpis link to the Pinot
pricing. 

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For etcetera. 
So there are new forms out 

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there. 
So it's very important to really

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step back and say, okay, he's 
our pricing organization, 

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fitting fit for berga, no 
purpose for the future is a 

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really sustainable and, and what
do we need to do something 

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different to get around that and
we have a clear case study to go

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over it. 
Hmm. 

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No good. 
Good good, yes. 

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That that would be a solid solid
evaluation of what the best form

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of a pricing. 
Ian is so thank you for 

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clarifying that now let's switch
gears a little bit. 

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Can you tell me what exactly is 
ethical pricing? 

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And why exactly is it important 
to know about? 

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Well today, you know, in today's
world is you, you know, and 

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everybody knows, you know, we're
dealing with a lot of pressure 

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on the results and the bottom 
line value creation inflation in

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a supply chain inventory 
challenges. 

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So, a lot of companies that 
leadership could, you know, fall

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into the really an ethical way 
of making the, you know, the 

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decisions around what they're 
trying to do when they trying to

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achieve or to reach that goal. 
It's a lot of pressure, so it is

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human nature. 
And so we just need to make sure

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that we do not forget about 
ethical pricing aspect. 

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We do things right? 
So we must get ahead of pricing 

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FX. 
We must look at the you know 

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code of conduct. 
We must look at certified fair 

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prices you know fair play 
privacy challenges, you know 

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regulation governance because 
you can fall into really Falls, 

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trap an ethical decision, You 
know, making a drive because, 

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you know, you have a pressure 
from the top to get to certain 

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Target here in these very 
difficult times, these days. 

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So, ethical pricing, there are 
two fold one, when you look at, 

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you know, ethical decisions and 
ethical strategies in the very, 

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very difficult conditions and 
the second thing when you add 

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some Mission pricing, to your 
strap pricing strategy and we'll

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have a real cake. 
Study from a great company in 

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Bangkok the deals with you know,
High valued seeds for their 

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plantations, right? 
So and when this particular 

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consultancy came in and did the 
work for them, you know, the 

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girl recommendation was to come 
and increase prices at 20% well,

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because of this strategy and is 
ethical prices. 

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Icing Mission pricing that this 
particular seeds company. 

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Has the conclusion was to go and
only increase pricing with the 

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farmers that two percent versus 
what was recommended. 

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Right under the calculation 20% 
because of this ethical 

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mission-driven pricing because 
the, you know, they believe in a

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very high value of seeds, you 
know, the quality of seeds and 

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that relationship with the 
customers that are very 

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important. 
Mordant. 

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So and also the farmers. 
So this is the whole circle 

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there. 
So we will go through the 

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details of this real case study 
to understand what was behind 

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that particular decision, right?
Going to present price increase 

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and not 20 as recommended by the
calculations. 

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So it's really amazing. 
It's also, very important topic 

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coming up more and more social 
sustainability, I am the Chief 

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Human Rights. 
Officer the slave free trade. 

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We mapping out, it would 
complete supply chain of many, 

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clients of ours to understand 
where they have, you know, slave

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labor along the line of their 
supply chain, where they have 

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their child labor, how the human
rights framework is positioned 

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and how its translating into the
pricing, right? 

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So what are the consumers 
looking for? 

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So very important topic. 
And I also teach my students 

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that As a fundamental science of
pricing, never compromise your 

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ethics, always make sure that 
you get ahead of your pricing 

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effects in your daily lives and 
daily jobs. 

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Okay, that was amazing. 
I appreciate your insightful 

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knowledge about ethical pricing 
and just you know it kind of 

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expounding on the best practices
you know centered around B2B 

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pricing Miss Larissa creates 
Copa, really appreciate your 

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time today. 
Thank you so much for being with

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us and just allowing us to be 
you know fed with your with your

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pricey knowledge and insightful 
information. 

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Now if you don't mind, do you 
mind sharing with the listeners 

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where they can find any more? 
More of your information that 

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you may have any more of your 
resources anywhere. 

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Well, I am on link it in so you 
can find me on LinkedIn. 

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So I have Publications and also 
other interesting postings that 

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I have on pricing and also you 
know, check check us out and 

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slave free trade and we just 
went live with a up chocolate 

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customer in Scotland. 
That's the first chocolate 

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producer that we mapped out. 
That has zero slave labor, you 

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know, in their supply chain. 
So in the cocoa farm that 

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produces that raw material for 
this particular companies in 

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Colombia. 
And so that's also quite 

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interesting how it is, also 
impacting the pricing and things

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like that. 
So you can also see that in on 

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our side, you know slavery trade
and also in social media. 

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Yeah. 
Okay, thank you so much. 

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I really appreciate your time 
until next time. 

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Bye bye.