Winning pricing strategies maximizes 4 levers with robust shopper data, market intelligence and inherent agility: shopper value perception elasticity, competitive comparison, retailer support and business objectives
Applications
Brands and products often struggle to find the sweet spot for value perceived by the shopper and fair revenue generation for the brand (market share). With a volatile supply chain and globally sourced ingredients, margin pressures further confound brands and retailers in offering the right price to shoppers/consumers.
Hence data driven analysis for helping brands make the right decision through –
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Elasticity (winning vs competition) – the right price points of inflection
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Channel Implications (winning with the buyer at retailer)
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P&L Impact (cannibalization and incrementality) – maximizing revenue and profit
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Shopper Communication (perception of value for the price suggested)
Deliverables
Optimized price point for product and portfolio. Optimized architecture that maximized KPI – revenue, share, volume, margins/profits etc.
Playbook on price changes to ensure least impact on volume sales considering cost pressures and inflation etc.
Communicating Value to the Shopper
I would like the next level of leadership trained on this. Once that is done, I would like the level below that group to be trained as well. Shopper Design has really opened our eyes to what we are not doing on our business.
President - Fortune 500 Retailer
