Applying a Strategic Approach to Pricing

Applying a Strategic Approach to Pricing
Association for the Advancement of Medical Instrumentation logo on a blue background

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AAMIThe Association for the Advancement of Medical Instrumentation (AAMI) had historically taken a decentralized approach to product promotion and pricing. With a variety of audiences to serve, from manufacturers to hospitals to individual medical technicians, AAMI departments often took different approaches to driving sales for their products, some of which were simply based on past practices. AAMI decided that it needed a more strategic approach to pricing its publications, programs and membership dues.

AAMI retained McKinley to develop a disciplined pricing approach based on comprehensive research, which included interviewing stakeholders, surveying members and customers and conducting market research to assess the competitive landscape and marketplace. Based on this information, McKinley developed customized pricing tools for more than 20 different AAMI products and developed a standardized pricing framework to help all of AAMI’s departments to work collaboratively and transparently when determining price points. McKinley also recommended changes to the membership structure that provided AAMI with more flexibility and the opportunity to attract members from growing segments of the medical technology industry.

VALUE TO CLIENT:

Since the pricing project concluded in early 2010, AAMI has seen its membership ranks swell to record numbers and its overall revenue increase over prior years. The changes that AAMI implemented helped the organization to respond to the needs of a growing field and capture that growth as it has occurred.

“McKinley Advisors completed the project on time and on budget; and gave us practical results that were easy to implement, made sense from a strategic and tactical standpoint, and generated revenue for the association. What more could you ask for?”
Steve Campbell
SVP of Communications, Marketing, and Healthcare Technology Management