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> price change request
price change request
Preparation
Review current pricing structure
Identify reasons for the price change
Gather necessary data and documentation
Consult with relevant departments (e.g., sales, finance, marketing)
Proposal Development
Draft a detailed price change proposal
Include proposed new prices and effective date
Justify the price change with data and analysis
Prepare comparison with competitor pricing
Approval Process
Submit the proposal to management for review
Schedule a meeting to discuss the proposal
Address any questions or concerns from management
Obtain formal approval of the price change
Communication
Develop a communication plan for stakeholders
Notify customers about the price change in advance
Update internal teams (sales, customer service, etc.) on the change
Prepare FAQs to address potential customer inquiries
Implementation
Update pricing in all relevant systems (ERP, website, etc.)
Ensure all marketing materials reflect the new pricing
Monitor customer feedback post-implementation
Evaluate impact on sales and market response after implementation
Review and Follow-Up
Analyze the performance of the price change after a set period
Gather feedback from sales and customer service teams
Adjust pricing strategy as necessary based on performance
Document lessons learned for future price change requests
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