As we are going out of COVID- 19, surging prices are reflecting on the cost of goods for businesses leading to pressure on manufacturers to increase prices in an economy not recovered yet for the consumer.
The current no-option-but-price-increase situation, puts financial managers in a major dilemma, facing the risk of choosing the right price point, while demand is decreasing.
Financial managers are currently placed in a confusing position standing at the edge of one of two options their pricing decisions would lead to:
A- Either a losing market Or B- Losing financial opportunities
So the questions now are:
– How can we measure consumer price elasticity and how can we optimize the whole offering to maximize revenue?
– How can businesses optimize their pricing in a way that maintains revenues and profits, while reflecting on change of cost through consumer value pricing tools?
Book your spot for our upcoming webinar on pricing strategies for managing profitability post-pandemic and steps to help you navigate these changes.