Matthew Taylor, Pricing Planning Manager at Kingfisher Plc
Matthew Taylor has spent many years in pricing, starting the travel sector before moving into his current position. Away from pricing and work, Matthew enjoys spending time with his family. He is also incredibly active, running and swimming, with plans to tackle a swim to the Isle of Wight in the coming months. Read on to find out more about him:
1. How did you first get into pricing, and what attracted you to pricing initially?
I got involved by chance when working for a cruise company. I was doing a commercial graduate scheme and the pricing side was immediately appealing; I liked the way we would set and review prices weekly and this had a direct correlation on customer demand and margins.
2. What excites you about pricing?
I get excited because it’s so visible and tangible. It’s such a big driver of customer demand and is one of the big drivers of a decision to buy or not... no matter what the product.
3. How has pricing changed as an industry since you first began your pricing career; and have you had a role in the changes?
I’ve seen pricing change from being a department who is in place to do a health check on a selection of decisions to being involved in setting the commercial strategy and delivering growth. I’ve also seen a big change in the software environment and how this can be utilised to support these decisions.
4. How necessary do you see pricing in the present business world, and going into the future?
A capable pricing department is a necessity in modern business because prices are becoming more and more transparent. However, the challenge for pricing professionals in the future needs to be on understanding the difference between price motivated decisions and those motivated by value. It’s important to understand this and how this supports the overall company objectives.
If you would also like to include a short fact about yourself outside of pricing for us to include in your introduction, please feel free as we are trying to bring the human side to pricing.
When not pricing I enjoy spending my free time with my wife and three children. I also enjoy running and this year I am running the 100 miles of the South Downs way in 3 days.