Premiumization: How Smart Brands Become Category Leaders
How to Premiumize Your Brand and Become a Leader Things are shaking up for the Consumer Goods industry. COVID has resulted in many categories taking a tumble, thanks to the shift away from restaurants and toward retail, where supplier margins are often considerably smaller. Retailers are now trying to eke out every little bit of profit they can, which is creating long-term threat to suppliers. To make matters worse, suppliers are not allowed to influence retailer shelf prices in Europe. The antitrust laws set by the European Commission were put in place to protect consumers from over-inflated prices and they...
The Key to Keeping Customers Happy in the Chemical Process Industry
The Key to Keeping Customers Happy in the Chemical Industry In this article, we’ll explore what makes pricing in the chemical industry uniquely complex, why companies are often dealing with thousands of price points, the impact of ever-changing input costs and discover the key to winning more opportunities while protecting the bottom line! Pricing in the chemical industry is more complicated than for other industries as you often have complex product portfolios and customer pricing is often negotiated individually. This pricing can come in the form of spot or negotiated pricing for customers, or indexed or formula pricing for...
Bain & Company Interview on Pricing for Success part 2 (Pricing Matters Video)
Pricing Matters Podcast: Discussion with Bain & Company Experts In this second part of our two-parter series from Pricing Matters, we focus on the impact on companies of not future-proofing their businesses with digital transformation and smart pricing, and the very real risk of them not being around in 10 years! I am once again joined by two Partners from Bain Consulting who are digital transformation leaders and pricing experts: Chuck Davenport and (Paco) Juan Francisco Jimenez. Listen to the Podcast Here Not a fan of watching? You can click to listen below or on your favourite podcast listening service: Spotify,...
Fast
COVID-19 and the Pressure of Digital Transformation in Pricing
COVID-19 and the Pressure of Digital Transformation Pre-COVID, most companies were in the early stages of ambitious digital transformation programs, but now they no longer have the luxury of time. In just a matter of months, digital adoption has been thrust forward several years. Digital initiatives that companies have been eternally putting off have become the top priority, albeit adapted through the lens of the “new normal”. Adopting a Through-Cycle Mindset to Change While it might feel counterintuitive to invest against a backdrop of plummeting revenues, missed budget estimates, higher costs, and strained employees, technology and infrastructure, this is precisely the right time to advance your digital agenda. While some CEOs...
Insight
How the Discrete Manufacturing Industry Can Learn from 2020 and Prepare for 2021
What the Discrete Manufacturing Industry Can Learn From 2020 to Plan for 2021 As we head further into 2021, it’s clear that although some things are going back to normal, that “normal” might be further off than we anticipated. So, what’s someone in the manufacturing industry to do? That’s why we asked the experts what they think are the biggest lessons and windfalls of 2020 and what companies like yours can do to still be successful in 2021 and beyond. In Your Opinion, How Has 2020 Changed the Discrete Manufacturing Industry? Maggie Buckland – Big Data Pricing In 2020, the...
Manage
What You Need to Have a Great Digital Transformation Strategy
What Makes a Great Digital Transformation Strategy? The process of digital transformation is one that involves the integration of digital technology within a business and how it transforms the business’s processes and performance. Digital transformation can also be seen as future-proofing the business by looking at how things are done on a daily basis and completely reassessing them in order to make real and impactful improvements. This has a profound influence across the business in that everything top to bottom is affected. As such, the process is time–consuming, costly to the business, and can face resistance from uncertain employees. With that in mind, throughout this article, I will...