Benchmarking Competitors' Prices: Is It Worth the Effort with Monica Sinha

<p><strong>Monica Sinha</strong> is a Price benchmarking Lead and Senior Manager at Capgemini. She has over 15 years of experience in the Finance sector which includes experience with the business finance team of Tech Mahindra, the commercial management office at Accenture, brokerage department at Karvy Computershare Pvt. Ltd., and corporate finance department at Tata Finance Ltd.</p> <p>In this episode, Monica shares how benchmarking increases your confidence in winning deals. And she also talks about when benchmarking truly becomes helpful -- that's when teams work together to truly connect with the customer to attain the best possible final price for a quote.  </p> <p> </p> <p><strong>Why you have to check out today's podcast:</strong></p> <ul> <li>Find out how benchmarking helps validate the final price</li> <li>Learn how benchmarking helps increase your chance of winning the deal</li> <li>Find out how you go through benchmarking the competitors' price and the nuances that are involved in it</li> </ul> <p> </p> <p align="center"><strong>"When you are in the pricing line, then I think you need to have a very holistic view. We just cannot go with taking the cost and add the margin, and derive the price out of it. You need to have the entire team aligned into one."</strong></p> <p align="center"><em>- Monica Sinha</em></p> <p> </p> <p><strong>Topics Covered:</strong></p> <p>01:11 - How she landed into pricing</p> <p>02:32 - Pricing compared to a recipe</p> <p>03:46 - What benchmarking suggests</p> <p>05:19 - Benchmarking as a validation check</p> <p>08:18 - The way benchmarking is done and the nuances involved in it</p> <p>13:03 - The challenges that come with benchmarking</p> <p>16:08 - Doing post-mortem analysis to what led to a difference in price after benchmarking</p> <p>17:21 - How to find out what price the competitor is charging</p> <p>20:07 - The one thing that helps you win a deal</p> <p>20:41 - How do we benchmark value-based pricing</p> <p>23:14 - Monica's pricing advice that can significantly impact