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Competitive Pricing + Packaged Food Industry

Assessing the Significance of Competitive Pricing in the Packaged Food Industry During COVID-19

Packaged Foods Industry Overview

Since the advent of the COVID-19 pandemic, the food and beverage industry has witnessed many challenges. The sudden decline in dining out and increasing focus on home-cooked meals caused a major rift in the growing food services market but propelled growth in the packaged foods industry. Consumers’ demand for convenient, hygienic, cleaned, and packaged food surged significantly over the past year. However, sudden growth led to more food and beverage industry players entering the packaged foods industry. Rising competition, renewed hygiene protocols, and consumers’ demands regarding cleanliness have made it challenging for companies to keep pace with the market and maintain competitive pricing, particularly during a highly impactful pandemic.

The most prevalent challenge in the packaged foods industry has been providing competitive pricing while logistical and raw material costs increase significantly due to the business implications of the COVID-19 pandemic. Rising competition has made it more challenging, and competitive pricing strategies have become necessary for packaged foods industry players. Many industry leaders leverage competitive pricing solutions from leading research firms to recover from the pandemic, keep pace with increasing costs, and competitively price their offerings.

The COVID-19 outbreak significantly impacted the food and beverage industry. To overcome the pandemic’s impact, maintain business continuity, and regain substantial profits, request a free proposal.

Business Challenges

The client, a packaged foods manufacturer, based in Northern Europe, noticed that increasing competition and changing prices had caused significant customer attrition. The manufacturer struggled to maintain speed and quality due to high costs and simultaneously match their competitors’ pricing in the growing market. Additionally, since the pandemic, consumers demanded healthier and safer alternatives, and the packaged food industry client’s inability to deliver immediately caused further monetary and market share losses. The client required a comprehensive understanding of their competitors’ pricing and supply chain strategies and ensured that their products met consumers’ changing preferences. Therefore, the packaged food manufacturer sought to leverage Infiniti’s competitive pricing solutions.

Through the competitive pricing engagement, the client also wanted to:

  • Understand competitors’ pricing strategies
  • Identify unnecessary costs and mitigate losses
  • Develop a successful competitive pricing strategy
  • Evaluate and meet consumers’ needs with improved offerings

Request more information to learn how Infiniti’s competitive pricing solutions helped packaged food industry players increase their customer retention rate and overcome the implications of the pandemic.

Our Competitive Pricing Approach

Infiniti’s experts developed a comprehensive competitive pricing engagement to address all the packaged food industry client’s pain points and challenges and help them enter the post-COVID era with a strong foothold in the market. The approach included the following three processes:

  • Our experts conducted a pricing analysis to assess consumers’ reactions to various price points in the market and evaluate competitors’ prices for similar offerings. The competitive pricing analysis helped the client gain insight into competitors’ pricing strategies and consumers’ preferences in the packaged foods industry.
  • A competitive benchmarking helped the client gain insights into their key competitors’ and industry leaders’ supply chain strategies and understand how they controlled costs, maintained quality, and speed while offering consumers’ favorable prices. The client also understood how to streamline their supply chain further and significantly reduce costs.
  • Due to significant market changes since the pandemic started, the client needed to revamp its offerings to meet consumers’ demands. Therefore, Infiniti’s experts conducted product research and helped the client understand how their new offerings would perform in the market. This research included providing data regarding consumers’ feedback, similar offerings in the market, and the potential success or failure of a particular product.

Business Outcomes

By leveraging Infiniti’s competitive pricing solution, the packaged food industry client overcame the significant challenges posed by the COVID-19 pandemic and renewed their strategies and offerings to meet consumers’ expectations. The pricing analysis helped the manufacturer identify consumers’ preferred price points, and understand their competitors’ pricing strategies, consequently enabling well-informed competitive pricing within the preferred range.

The insights from the competitive benchmarking study enabled significant supply chain improvements for the packaged food industry player. They renewed their supply chain strategies, identified better suppliers, increased transparency within the supply chain, and improved quality and speed with their new approach. Additionally, the product research provided relevant data regarding target consumers’ unmet needs and enabled the development of unique offerings in the highly competitive packaged foods industry.

Our competitive pricing experts also used the product research insights to help the client forecast revenue estimates and set competitive prices for their novel offerings. The competitive pricing solution helped the packaged food industry client overcome the implications of COVID-19, streamline their supply chain, significantly reduce costs, develop improved pricing strategies, and introduce offerings that targeted consumers’ unmet needs. Within six months of the engagement, the manufacturer started to regain its market share, improved its price points, increased customer retention, and successfully launched a new set of products that exceeded revenue expectations and received positive consumer feedback.

Staying a step ahead of competitors, evaluating consumers’ needs, and identifying changing market trends is imperative to growth in the food and beverage industry. Speak with our experts to learn how your business can achieve this and champion your sector with our market and competitive intelligence solutions.

competitive pricing strategy

Adopting Competitive Pricing Strategy in Healthcare: What to Keep in Mind

For healthcare companies to attain a healthy profit margin and ensure quality outcomes, it is essential to connect their pricing strategy with the day-to-day operational concerns. With the rising healthcare market competition, healthcare companies must be cautious while creating and implementing their competitive pricing strategies as overlooking even small factors can cause them to lose out on their competitive advantage. Competitive pricing strategy in healthcare does not necessarily mean a race to the bottom in order to offer the lowest prices. In this blog, experts at Infiniti explain the key factors that enable healthcare organizations to create a robust competitive pricing strategy.

Whether you charge higher or lower prices than your competitors, you must have a value proposition that justifies those prices. Request a free proposal to know how we can help your business identify and set optimum prices for your products and services.

Building a robust competitive pricing strategy in  healthcare

competitive pricing strategyEstablish market identity

Many healthcare organizations are under the misconception that a competitive pricing strategy has got to do primarily with becoming a low-cost or low-price player. Although some low-acuity services such as imaging may require a low-cost option structure, healthcare systems may continue to provide care at historical rates for other services. Moreover, organizations must also seek to understand what their current market identity is and what they want it to be in the future.

Facing trouble with your current pricing strategy? Get in touch with our experts for more insights on how you can transform your existing pricing strategy.

Proactive process to maintain margins

Healthcare organizations need to proactively review prices in order to isolate and resolve any potential margin issues before risk to revenue or compliance occur. It is vital to emphasize on improving key service lines and identifying margin and compliance risks by payer and service lines. Healthcare organizations must also focus on educating their staff on key issues so that charge capture violations can be easily prevented.

Engage in meaningful interactions

Several organizations resort to the practice of using tools to establish their competitive pricing strategy. However, these tools often fail in terms of adjusting to price sensitivity in the market. Although tools prove to be beneficial in building a competitive pricing strategy, it is insufficient to create an overall competitive advantage in the market. While interacting with consumers online, healthcare companies have a unique opportunity to deepen consumer relationships. Providing value messaging, online scheduling, or a live chat option are ways to create meaningful interactions with customers. Furthermore, healthcare organizations can also create a seamless customer experience with flexible payment options as a part of their competitive pricing strategy.

Price transparency to create value

Giving patients a clear idea of what exactly they are being charged on is an effective competitive pricing strategy that can induce patient loyalty. Being transparent with prices can also help healthcare organizations to increase their customer base on a larger scale. Ensuring transparency is pricing is one of the best ways to communicate value to customers and increase consumer confidence towards the organization.

To learn more on the right competitive pricing strategy for your business

Penetration pricing strategy

Infiniti’s Penetration Pricing Strategy Helped a Consumer Electronics Company Achieve 22% Increase in Market Share

Penetration Pricing Strategy for a Consumer Electronics Company

With a large number of consumer electronics products being introduced every year, companies in the consumer electronics market are facing difficulties to increase market share and sales volume for their products. Also, as pricing largely impacts customers’ buying behaviour, it becomes vital for consumer electronics companies to competitively price their products. However, for companies that are new to the market, it is even vital to introduce some introductory offers to set up their customer base in a particular market. This is where penetration pricing comes in. Penetration pricing strategy helps businesses gain sales traction. This also helps businesses to increase market share.

Penetration pricing strategy helps businesses to lure customers away from established competitors. Request a FREE proposal to know how our product pricing strategies can help your business to achieve maximum market share within a short span of time.

Business Challenge

The client is a consumer electronics company in Europe. The client was new to the European market. As the European consumer electronics market was highly saturated, the client was facing difficulties in competitively pricing their products. The client even faced difficulties to lure customers’ attraction, build brand loyalty, and generate demand for their products.Therefore, they approached Infiniti Research to leverage their expertise in formulating a penetration pricing strategy. With Infiniti’s price penetration strategy, they also wanted to analyze the pricing strategies adopted by competitors and devise an appropriate penetration pricing strategy to gain market share and attract customers.

By leveraging Infiniti’s penetration pricing strategy, the client wanted to achieve the following:

  • As pricing plays a major role in customers’ buying behavior, the client wanted to leverage penetration pricing strategy to build customer base quickly by selling products at a lower price. By building a better customer base, the client wanted to enhance their sales rate.
  • As the client was new to the European consumer electronics market, they were facing challenges in capturing market share. With Infiniti’s penetration pricing strategy, the client was looking to provide introductory discounts to customers and capture maximum market share.
  • With Infiniti’s penetration pricing strategy, they also wanted to eliminate the market competition by offering products at a lower value compared to their competitors.
  • With Infiniti’s penetration pricing strategy, the client also wanted to create a mass market for their products and establish themselves as market leaders.
  • With Infiniti’s penetration pricing strategy, they further wanted to measure customers’ sensitivity to price changes and identify the price gap with their competitors.

CONTACT US to know how our penetration pricing strategy can help your business to formulate an efficient pricing strategy for your business.

Solutions Offered and Value Obtained

The experts at Infiniti Research followed a four-phased approach to formulate an efficient penetration pricing strategy for the client.

Conducted a thorough market pricing analysis – The experts at Infiniti Research also analyzed the European consumer electronics market players and their pricing strategies. The factors such as competitors’ product offerings, pricing strategies, market position, strengths, and weaknesses were considered during the analysis.

Analyzed the target audiences – The experts analyzed the needs and demands of the client’s target customers. The experts also analyzed customers’ buying behavior, customers sensitivity to price changes in the market. They also analyzed how consumers’ reacted to new product launches in the market.

Analyzed competitive landscape – The experts analyzed the top five competitors of the client. They further analyzed the structure of their pricing, discounts, and their market share.

Created a pricing strategy and execution plan – Based on the insights obtained, the experts at Infiniti Research formulated a pricing strategy for the client. The formulated pricing strategy plan acted as a blueprint that helped the client to efficiently price their products to gain maximum market share.

Results Obtained

With Infiniti’s penetration pricing strategy, the client was able to create a mass market for their products in Europe. They were also able to build a better customer base and achieve a high market share. By offering products at a lower price compared with their competitors, the client was able to surpass the competition. Infiniti’s penetration pricing strategy helped the client to enhance brand loyalty. Furthermore, it helped them to sucessfully establish their market presence in the European consumer electronics market.

Also, by leveraging Infiniti’s penetration pricing strategy, the client was able to:

  • Grow their market share by 22% in the course of one year
  • Capture customer traction by offering products at lower prices
  • Build customer and brand loyalty

For a new venture, figuring out how to price your products or services is highly challenging. Infiniti’s penetration pricing strategy can help you efficiently tackle this challenge. Request for more information to gain more insights into our services and learn how our penetration pricing strategy can help you achieve high market penetration rates quickly.

What is penetration pricing strategy?

Penetration pricing strategy is a business process in which the prices of products are initially kept low to reach a wide fraction of the market. This also helps businesses attract customers towards their brands and also outpace the market competition. Furthermore, penetration pricing strategy stimulates market growth and helps companies capture maximum market share for their products or services.

Advantages of penetration pricing strategy

  • Helps businesses to capture maximum market share in a short time
  • Enhances brand loyalty and also brand awareness
  • Helps companies gain a leading edge in the new or existing market compared with competitors
  • Helps achieve higher market penetration rates quickly
  • Encourages word of mouth marketing and also enhances customer experience

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competitive pricing strategy

Infiniti’s Competitive Pricing Strategy Elevates Sales and Profit Margins for a Canadian Fast Food Company

Competitive Pricing Strategy for a Fast Food Company

Today, businesses use a variety of pricing strategies depending on their unique business goals and objectives. However, in today’s competitive marketplace, it is important to have the right pricing strategy to maximize sales and profits. Also, businesses need to constantly monitor competitors’ pricing strategies and plans in order to have a competitive advantage in the market. This is where the real power of competitive pricing strategy comes in. Major food and retail companies are considering competitive pricing strategies to price their products. This success story explains how our competitive pricing strategy helped a fast food company gain a competitive advantage in the market.

Deciding the right ‘price’ for a product is a challenging task for companies. If you are facing difficulties in pricing your products or services, our experts can help. Request a FREE proposal to know how our competitive pricing strategy will help you efficiently price your product to yield maximum profits.

Business Challenge

The client is a fast food company based out of Canada. As they were new to the Canadian fast food market, they faced difficulties in efficiently pricing their products. Also, the client noted that Canadian customers were very selective regarding purchases due to their knowledge of the monetary value of products. The client, therefore, was facing difficulties in competitively pricing their products according to the current market demand and in attracting new customers. They approached Infiniti Research to leverage their expertise in offering competitive pricing strategy solution.

With Infiniti’s competitive pricing strategy solution, the client also wanted to:

  • Identify what similar fast food companies are charging for their products and set prices according to current market demand
  • Respond faster to their competitors’ actions and better position their company in the Canadian fast food market.
  • Attract customers who are price sensitive and increase the customer satisfaction level
  • Compete much better in the Canadian fast food industry and maximize profits with each price change.

Solutions Offered and Value Delivered

The experts at Infiniti Research conducted a four-phased approach. This involved conducting a thorough Canadian market analysis, analyzing the client’s target audiences, identifying direct and indirect competitors, and devising a pricing strategy and execution plan. As the client was new to the Canadian fast food market, the experts recommended the client to provide an introductory offer and discounts to attract customer segments.

With the insights obtained, the experts helped the client to decide competitive prices for their products. This helped them attract new customer segments. Also, the insights obtained from Infiniti’s competitive pricing strategy engagement helped the client implement a flexible pricing strategy to adapt to the unexpected price fluctuations in the market. Furthermore, providing introductory offers and discounts helped the fast food company to attract new customers.

The client was able to exceed their revenue expectation and gain a competitive edge in the Canadian fast food market within one year of entering the new market. Moreover, with Infiniti’s competitive pricing strategy engagement, the company was able to achieve average savings of 27.3%.

Aligning prices with market demand doubles revenue for companies. Wondering how? CONTACT US to know how our competitive pricing strategy can help you align your products’ prices with the market demand to maximize profitability.

Advantages of Competitive Pricing  

Respond quicker to competition

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Product pricing strategies

Pricing a New Product: The Right Product Pricing Strategies to Follow

Charging a lesser price for a new product may not always be a good decision.

One of the key questions to answer while launching a new product is- how much should the product be priced at? But the dilemma that most companies face here is that if they charge too much for a new product it won’t sell, and if the product is priced too low the product’s market value proposition becomes low. Moreover, once companies decide on their initial product pricing strategies and a price is set for a product, it becomes extremely difficult to raise prices.

Today, businesses and consumers alike are demanding more for less, making it even more difficult for brands to formulate product pricing strategies that are favorable to all the parties involved. Global competition, increased pricing transparency, and lesser market entry barriers across industries are forcing brands to rethink their new product pricing strategies. Before zeroing in on their product pricing strategies, companies must have a clear estimate of the highest and the lowest price that they could charge for a product. Then a detailed price-benefit analysis must be undertaken during the preliminary stages in the product development cycle. This not only shows companies whether price barriers might make products unfeasible but can also guide their development by indicating the product attributes for which customers may be most willing to pay for.

Planning a new product launch? Request a free proposal to know how our experts can help you build successful product pricing strategies with effective market insights that you may have overlooked.

Product pricing strategies for a new product

Product pricing strategiesSome of the key product pricing strategies that can be used for a new product include:

Segmentation pricing

Pricing a new product could often prove to be a challenging task. An important tactic that can be followed by companies is to set different prices for different market segments. In order to enhance profits, markets can be split into sectors based on differences in price sensitivity. Higher prices can be charged to those who are impervious and lower prices to the more price sensitive customers.

Penetration pricing

Companies often get tempted to build market share, especially with the launch of every new product, through aggressively low prices. This competitive product pricing strategy is known as penetration pricing. However, a fixation on volume could reduce profitability and consequently ignite a price war. As a result, it is generally advisable to keep upward pressure on prices and promote good industry pricing behavior. On rare occasions, however, the price lever may be an effective tool to undermine competition.

Not sure about the right product pricing strategy for your new product? Request a free brochure to learn more about our solutions and how they can help enhance your new product pricing strategy.

Cost compression curve pricing

Cost forecasting for pricing new products is based on the cost compression curve, which relates the actual manufacturing cost per unit of value added to the cumulative quantity that is produced. This cost function is mainly the consequence of cost-cutting investments to discover and achieve internal substitutions, automation, worker learning, scale economies, and technological advances. Usually, these move together as a logarithmic function of accumulated output. Such product pricing strategies are highly effective when the product superiority over rivals is minimal and when entry and expansion by competitors is easy and probable.

Learn more about Infiniti’s new product pricing strategies

Competitive Pricing Advantages

Competitive Pricing Analysis Helped a CPG Company Surpass the Competition by Regulating and Benchmarking their Pricing Strategy

Despite a growing economy, consumer packaged goods (CPG) brands in Canada are reeling under the pressure from shifts in customer behaviour and buying patterns. Also, with the advent of e-commerce, it has become easier for customers to easily compare prices from various vendors. With this, developing accurate pricing strategies have become imperative for companies in the CPG industry. Furthermore, continuously monitoring the price changes employed by competitors and constantly making changes in pricing strategies are becoming vital for CPG companies to drive profitability. This is where companies realize the importance of leveraging competitive pricing analysis.

Wondering how employing competitive pricing analysis will help you better price your products and boost your company’s bottom line result. Request a FREE brochure to gain more insights into our services portfolio and to know how our solutions will help you monitor competitors’ pricing strategies and outpace the global competition.

Business Challenge

The client is a CPG company based out of Canada. As the client was new to the market, they were facing difficulties in competitively pricing their products. Also, the client lacked data on their competitors’ pricing and promotional strategies. This made it difficult for them to build strategic pricing plans to support their product’s pricing and promotional strategies. They even ignored changes in cost, competitive environment, and in customer’s preferences. With this, the company struggled with meeting their sales target for the initial year. Also, they were losing their customers and market share to their competitors. The client, therefore approached Infiniti Research to leverage their expertise in offering competitive pricing analysis solution.

Other challenges the client was looking to address by leveraging Infiniti’s competitive pricing analysis were:

  • The client set prices for their products based on their manufacturing and distribution costs. They did not analyze their customers’ perceptions of value. This gradually resulted in prolonged sales cycles and affected the company’s profits. With Infiniti’s competitive pricing analysis, they wanted to analyze how their competitors set prices for their products according to the perceived value of the product.
  • The client was facing difficulties in analyzing unexpected price fluctuations in the market. With Infiniti’s competitive pricing analysis, they wanted to monitor the prices employed by their competitors.
  • With Infiniti’s competitive pricing analysis, they wanted to measure customers’ sensitivity to price changes and identify the price gap with their competitors.
  • The client realized that pricing is one of the main factors behind customers’ purchasing decision. By leveraging Infiniti’s competitive pricing analysis, they were able to accurately price their products and meet the fluctuating market demand.

Our Approach

  • The initial phase of competitive pricing analysis engagement involved gathering detailed insights into client’s key competitors in the Canadian CPG market. This also involved analyzing the niches they deal with, pricing strategy that they follow, their profit percentage, and their growth rate.
  • The second phase involved identifying the explicit cost (the cost incurred by the company for making all the physical payments and the contractual obligations) and implicit cost (costs on which the firm waives any opportunity of earning a profit from the use of its internal resources by third parties). This helped the client to understand the total cost of ownership of the product.
  • The third phase of this competitive pricing analysis engagement involved identifying customers’ sensitivity to price changes and developing effective strategies to meet their demands.
  • The final phase involved analyzing competitors’ strengths and weaknesses to help the client differentiate themselves by offering products and services that fill gaps that their competitors have not addressed.

Results Obtained

With Infiniti’s competitive pricing analysis solution, the client was able to competitively price their products relative to the competition. Also, Infiniti’s competitive pricing analysis helped the client to adapt to dynamic pricing, which allowed them to compete much better in the industry and maximize profit with each pricing change. This helped them surpass the competition and achieve their annual sales target. The competitive pricing analysis also helped the client to develop flexible pricing strategies and respond to unexpected price fluctuations in the market. As a result, they were able to enhance their profit margin by 23%. Furthermore, the solutions helped the client to enhance customer experience and keep their customer base stable.

The competitive pricing analysis solution also provided benefits that helped the client:

  • Fine tune their pricing strategies and profitably price their products.
  • Develop robust competitive pricing strategies
  • Compare the prices of the competitors and identify opportunities to differentiate their products and services

CaptureWhat is competitive pricing analysis?

Competitive pricing analysis refers to pricing the products or services relative to competitors’ prices for similar products/services. Competitive pricing analysis empowers businesses to regulate the competition by preventing loss of consumers and market share to the competitors. By employing a competitive pricing strategy, businesses can competitively set prices for their products/services according to the market demand. Furthermore, it helps companies to dynamically adapt to competitors pricing strategy and gain a leading edge in the market.

What are the four types of pricing strategies?

Let’s have a look at some of the major pricing strategies implemented by organizations:

  • Competitive pricing – setting a price based on what the competition charges
  • Value-based pricing – setting a price based on how much the customer believes what you’re selling is worth
  • Price skimming – setting a high price and lowering it as the market evolves
  • Penetration pricing – setting a low price to enter a competitive market and raising it later

Interested to know more about our competitive pricing strategy and their benefits for your business? Contact us today!

food and beverage

Building Better Competitive Pricing Infrastructure

Effective pricing strategies ensure that businesses are maintaining a good profit margin while keeping up with the market competition. When it comes to building the right marketing strategies, pricing is one of the most important components as the price of the product is one of the first things that a customer notices about a product and plays a vital role in the purchase decision of customers. There are several pricing strategies available for businesses today. Some of the common pricing strategies include –

Cost-plus strategy: A prefixed profit margin is added over the total cost of the product

Demand pricing: The price is set by establishing the optimal relationship between volume and price

Markup pricing: A percentage is added (as profit) over the wholesale price of the product

Competitor pricing: Prices are fixed based on competitor prices

Competitive pricing strategy has caught the fancy of most players across industries. This article provides comprehensive insights into what a competitive pricing strategy and its role in competitive pricing analysis.

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What is competitive pricing strategy?

Competitive pricing refers to a pricing strategy in which prices of a product are fixed in accordance with that of the competitor prices for similar products. In this type of pricing strategy, the purchasing behavior is an important criteria considered to fix prices. Some of the other factors taken into consideration include price sensitivity, costs, and competition. In competitive pricing, the business has three options to price their products in relation to the competitors- price the product higher, lower, or at par with that of the counterparts in the market. However, this is one of the most strategic decisions to be undertaken by key decision makers of the company as any fault in the pricing strategy could lead the company to lose out customers to the competitors.

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Creating a competitive pricing strategy from scratch is no easy feat. Our competitive intelligence solutions for business help companies are tailor-made to suit individual business requirements. Request a proposal to know more!

competitive pricingCompetitive pricing strategy in pricing analysis

Competitive pricing is all about choosing strategic price points to leverage the best advantage out of a product/service when compared to their counterparts in the market. In the modern marketplace, a successful pricing strategy requires large amounts of historical and competitive data which takes into consideration myriads of market information. Experts at Infiniti Research have observed that a good majority of buyers compare offers by several stores/brands to ensure that they get the best bargain. Retailers that can collect and analyze market data, map their position against that of the competitors, and offer optimal prices. This would not only grab more customer attention but also gives brands a first mover advantage. Furthermore, competitive pricing strategies attract more customers by using competitor product and pricing data to increase sales and thereby boost revenues.

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competitive pricing

A Major FMCG Brand Improved Their Bottom Line Results and Competitiveness with the Help of Competitive Pricing Engagement

Today, we live in an era where the adoption of smart & competitive pricing strategies can catapult new brands and retailers to quick success. At the same time, the failure to project the right brand image through effective pricing can seriously destabilize the prospects of business establishments. ‘Competitive Pricing’ is an essential cog of a product positioning and branding strategy and has a long-lasting impact on customer loyalty and consumer engagement. A robust pricing strategy acts as a catalyst that helps manage profitability while ensuring the brand’s price image reverberates through all its marketing campaigns.  

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Here are a few reasons why competitive pricing can leverage your market success:

  • Helps you stay ahead of the global competition
  • Offers price increment opportunities
  • Improves profit margins

Client’s Background

The client- a leading player in the FMCG industry in the U.S.

The Challenge

Owing to the intense competition from FMCG companies all over the globe, a multibillion-dollar FMCG industry player realized the need to make better pricing decisions to stay ahead of the curve. Needless to say, the competition in the FMCG market is on the rise and leading FMCG industry players are on the constant lookout for new opportunities and pricing frameworks that can help them stay ahead of the competition.

Request a FREE proposal to know how our competitive pricing solutions will help you tackle market challenges.

Our Approach
A detailed assessment of the competitor’s pricing strategies enabled the FMCG industry player to gain detailed insights into the pricing strategies adopted by market leaders. Our experts developed a structured approach to competitive pricing, which played a major role in enhancing the FMCG company’s bottom line. The competitive pricing research methodology leveraged the use of competitive intelligence to gather insights on the competitor’s strategies with regard to their product offerings.

Business Impact

Following the detailed assessment of pricing strategies, a unique competitive pricing strategy was devised to empower the FMCG industry player to differentiate their brand by setting unique prices for their products. The adoption of a holistic, intelligent competitive pricing solution that customarily aligns itself to the company’s business goals and the market dynamics enabled the FMCG industry player to break through the cluttered market space with a unique and convincing proposition in terms of pricing.

The implementation of the new competitive pricing strategy also improved their competitiveness, leading to the generation of $45 million in annual revenue. As a result, the FMCG industry players have surpassed the global competition by successfully capturing a top spot in the global market space by enhancing both customer satisfaction and customer retention levels.

CONTACT US to learn more about our competitive pricing services and their importance for your business.

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