The Benefits of Pricing Strategy
Today more than ever, pricing is one of the top issues manufacturers are facing. Commodity prices are squeezing margins, a slow economy puts downward pressure on prices and retailers are often unwilling to accept price increases. All too often, simplistic pricing strategies are implemented when those are sub-optimal.
Pricing Analytics is a process designed for manufacturers to help answer these fundamental questions:
- How do I manage retail price with dramatic commodity price changes?
- What is the right retail pricing structure for my segments, brands and packages?
- How should I manage my price gaps versus the competition?
Kantar Retail’s pricing solutions gives manufacturers and retailers the tools to drive category performance and profitability through better use of price and trade funds. Price360 tools and methodologies provide an analytically sound foundation for the development of pricing and trade strategy and tactics.
Price360 is Kantar Retail’s strategic pricing solution utilizing sophisticated elasticity analysis to inform price strategy, model scenarios and estimate impact on sales and profitability. The solution includes model building as well as collaborative workshops where pricing opportunities are identified and built into strategy.
Price360 will help you better understand the impact of pricing changes to a client’s business, optimize current pricing structures, and derive best practice pricing strategy given shopper response to pricing.