TransNamib has launched a new initiative, the TransEvaRail Pricing Strategy Project. The project is a strategic move aligned with its Integrated Strategic Business Plan 2022-2027 and supported by a comprehensive study funded by GIZ Namibia.
The company has already held a number of workshops in Windhoek that brought together stakeholders to collaborate and share insights that will drive innovation and efficiency in TransNamib’s pricing structures.
The company has said the goal of TransEvaRail is to boost revenue generation, enhance sustainable competitiveness, and ensure commercial stability.
The first workshops took place on 13 to 14 May 2024, marking a significant step forward in TransNamib’s commitment to innovation and customer-centric decision-making.
“With the participation of over 80 individuals, including employees, customers, and partners from various industries such as mining, agriculture, and construction, our TransEvaRail Workshop was a resounding success,” the company said.
It said it has collected valuable insights and feedback that will shape the future of TransNamib’s pricing strategies and enhance its services for all stakeholders.
The project’s primary goal of the project is to review TransNamib’s current pricing strategy to better align with market conditions, benchmark with industry and possibly enhance revenue generation. The company will then develop a pricing strategy that meets the needs of its customers and supports the long-term sustainability of its operations.
The study will provide the company with the data needed to guide the possible restructuring of its pricing strategies for the benefit of the company.
According to TransNamibia efficiency in pricing structures mean developing pricing strategies that are both competitive and sustainable. This will involve market alignment to ensure that prices reflect the current market conditions and are competitive with other similar services. It will also involve cost recovery by setting prices that cover the costs of providing services, including maintenance, operations, and investments in equipment.
The revenue optimisation will identify opportunities to maximise revenue without deterring customers, such as dynamic pricing or tiered pricing models. The customer value will provide value to customers by offering fair prices that match the quality and reliability of the company’s services.
The other aspect is simplicity and transparency through creating a pricing structure that is easy for customers to understand and transparent in its application, reducing confusion and building trust.
The last aspect is flexibility through which TransNamib hopes to have the ability to adjust prices based on demand, seasonality, or other market factors to remain competitive and responsive to changes.TransNamib said efficiency in pricing structures means developing a balanced and strategic approach to pricing that supports the company’s financial health while meeting the needs and expectations of its customers.
