Surging prices across the globe are pressuring and forcing businesses to make tough pricing decisions and increase prices in an economy where the consumer’s purchase power is decreasing.
This paradox in today’s market is very different from circumstances in the past as purchasing power is lower than ever.
This situation puts Marketing and Financial Managers in a major dilemma. They face the risk of diminishing their market share behind the ratio of price increases.
Moreover, reducing the cost of products can jeopardize the brand and collapse its market.
A new era . . .We need to be NIMBLE in approaching price changes
Todays’ data analytics technology and decision platforms provide many FMCGs with the right tools to navigate pricing decisions that turn the current situation into a profitable opportunity.
SMART Value™ is an example of tried and globally validated predictive tool that is based on market data and research into the value that consumers perceive about different brands and SKUs.
It provides Marketing and Financial Management with “What If” capabilities to predict market behavior based on the market competitive landscape and perceived consumers’ value.
Under one framework, SMART Value™ uncovers a goldmine of opportunities for your brand and pinpoints the best decisions that will lead to the highest ROI so you can manage your pricing with confidence.
SMART Value™ does the following:
1. Measures and tracks the main activities of all companies: pricing, sizing, other features, distribution, in-store activities, promotions, and brand communication.
2. Accurate results and insights for short and long-term strategy building.
3. Uncovers opportunities and gaps in every phase using our highly developed holistic modeling frameworks.
4. Update data and use it continuously to provide guidance while navigating market uncertainty.
