Developing Pricing Strategy for Consumer Products
The client, a B2C Consumer Products company, faced two key challenges within the fiercely competitive market.Β The companyβs current pricing set-up was unable to effectively attract and retain customers, and emerging market trends indicated thatΒ consumers were becoming more sensitive to price fluctuations.
The client recognized the need for aΒ seasoned pricing consultantΒ with in-depth understanding of advanced pricing methodologies and tools, consumer behavior and market trends.
ConsultportΒ proposed 3 strong candidates within 72 hours. The client interviewed 2 candidates and selected a former senior consultant at Oliver Wyman. The consultant started working with the client team 1 week after the initial request.
The consultant conducted a comprehensive and in-depth analysis of the companyβs existing pricing structure, examining both internal practices and external market dynamics. To ensure a robust evaluation, a combination of competitive benchmarking, conjoint analysis, and value-based pricing frameworks was employed. This multi-layered approach enabled the team to not only identify optimal price points but also
uncover the trade-offs customers were willing to make, segment customer groups based on their willingness to pay, and assess the overall perceived value of the companyβs products relative to market alternatives. The findings provided actionable insights to refine pricing strategy, improve margin realization, and strengthen the companyβs competitive positioning in the marketplace.
he pricing roadmap provided the client with clear, actionable steps that strengthened customer retention, optimized pricing strategy, and delivered measurable revenue growth.
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