Pricing is difficult. There is no formula and pricing impacts nearly everything. If I price too high, then my customers won’t buy our products. If I price too low, then we don’t make much money, which will make it hard to grow. And there is how to price – do I:
- Just add a margin to my costs.
- Look at my competitors and copy what they are doing.
- Speak to my customers and work out their perception of value
- Price to support my brand position
The picture gets even more complicated when you have customers and consumers to worry about. Will the retailers, wholesalers or distributors favour my product over my competitors, and will the end consumers still buy in the volume we need. How do I manage the available profits, so everyone gets enough, we are still profitable, and the consumer gets a good value?
Then deciding what discounting strategy to employ to drive volumes, awareness or profit and support the brand adds further complication.
It is no wonder, with all these headaches, many businesses put off reviewing their pricing. With all the choices available, many businesses struggle to find a clear path to a consistent pricing strategy. And if companies are confused, what is the impact on customers and consumers.
Get your pricing strategy, pricing levels and discounting right and you drive volumes, earn good profits and have happy customers.
So where to start?
Introducing our Outline Pricing Review
Our Outline Pricing Review analyses your current pricing and provides key recommendations for improvement. Our review provides
- Valuable insights you can start actioning immediately
- Completed quickly – usually within 48 hours
- Low cost but good value
- Minimal input from your team to avoid disruption
We take you through the results via video call, so you fully understand the recommendations and can ask any questions.
What you get from the Outline Review
- A report outlining the key strengths and improvement areas of your pricing
- Analysis of up to three products or ranges
- Key recommendations to improve your pricing
- A report that you can refer to and share with your team
- A video call to take you through our findings and answer any questions
For an in-depth pricing review see our Detailed Pricing Review.
Meet our Expert - Anna Taylor
For over 15 years I had the great pleasure of working for companies that I have truly admired such as Cadbury’s, SAB Miller, Asahi and Unilever.
Working in Finance alongside Sales and Marketing teams throughout that time I learnt from the best and developed new methods and strategies for pricing, promotion and revenue management. From training sales forces in margin and pricing to co-designing and calculating the impact of an entirely new price pack architecture and everything in between.
I have seen first-hand the importance of getting pricing right, of designing a pricing architecture and more importantly, sticking to it. I understand how to get win-win pricing between you and your retailers and how to evaluate promotions to understand what really works and is worth spending money on.
Pricing is such a crucial element in every business and I am passionate about sharing my knowledge and seeing more companies benefit from this area that is so rarely taught and properly explained.
Additional Information
- Our Review is based on data you provide to us. We will send you a questionnaire and request specific data to enable us to undertake the review
- We normally undertake the work at our offices
- We might need to speak to team members to understand the data provided
Why Emerson Nash
- Deep experience – we have priced 100s of different products and services
- Results focused – we delivered measurable results
- Up to 100% Refund – via introductions to other business leaders
- Partnership – we treat your business as we would our own
- Very strong people skills
- Decades of line management experience in top businesses
- Hands on implementors – we get things done
- We only employ experienced experts (no “juniors”)
- Easy to work with – we listen and do what we say
