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Marketing and Procurement Discuss Purchase Price vs TCO
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Marketing and Procurement Discuss Purchase Price vs TCO

Are you marketing or selling large capital equipment like refrigerators, freezers, fume hoods where the operational expense, in terms of energy consumption, can be significant over the long term? If your product has a lower total cost of ownership (TCO), even if the initial purchase price may be higher than the alternative, what is your best strategy?

Does sustainability matter?

Do procurement teams even care about operating expenses?

And if you are a procurement manager, what tools and data are available to help you make the best decisions for your institution?

For the first time, I have two guests on the podcast, experts from both marketing and procurement to answer these questions.

We discuss:

  • How sustainability plays a role in decisions about initial vs total cost of ownership.

  • The responsibility for educating the market

  • What procurement teams need to know to help clients (scientists) make the best choice

  • How procurement managers can know if they are paying the right price

  • Why you should build a credible value proposition based on independently generated information

  • An inside out view of marketing that starts with educating employees

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Bill’s LinkedIn post that started this whole conversation.

OffWhite: Life Science Marketing

SciQuest: Procurement Software & Cloud Based Business Automation Solutions

Intro Music stefsax / CC BY 2.5

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