Case Study: STERIS Corporation
SPA led STERIS Corporation’s Strategic Pricing program in 1998 and again in 2007. Encompassing STERIS’s Capital and Consumables medical equipment and sterile processing business units, the initiative helped the company move away from an undisciplined, non-strategic “cost-plus” approach to a market value-based, strategic architecture with improved internal processes and controls.
Working with operational leaders, SPA developed pricing strategies that maximized the profitability of both business units. The project covered the following aspects of STERIS’s pricing mix:
- direct account pricing strategy and management
- price sensitivity modeling
- good/better/best positioning of products
SPA currently works with several STERIS medical products distributors with its Strategic Pricing for Distribution programs.
