A good product/brand manager creates 10-15% revenue growth per year. Finding the right target group and product differentiations, defining product innovations/brand extensions that consumers are looking for, working with retailers to optimize the in-store sales.
Yet, setting the right price proves to be a major challenge to many providers of consumer goods and services, from Telecom providers to Food producers in FMCG. Often prices and competitive differentials are based on historic patterns. Data on consumer behavior (in-store, pre-shopping, awareness), product sales, market shares, competitive prices, and promotions are readily available. But how to estimate price sensitivity and competitive behavior? How to manage the Trade when you implement price changes?
FirstPrice offers methods to optimize:
We present complete data analysis for maximum insights in opportunities and sensitivity. We combine this analysis with the experience and intuition of your product/brand managers to set prices. Pricing is thus driven by your people and based on objective data, which makes improvements lasting.
Interested in examples of our work? Contact us for an appointment.