It can be argued that no period in recent memory has presented more pressure on pricing than the extended run we are currently still navigating…starting with a global pandemic, exacerbated by unprecedented supply chain disruptions, and continuing through an extended period of persistently high inflation. With an ongoing threat of recession, the challenges facing companies across industries is increasingly bringing pricing strategy to the forefront of initiatives with which leadership teams are struggling.
The reflexive course of action during inflationary times is to simply raise prices to keep pace with currency fluctuations. However, pricing strategies must also take into account external forces and market-based factors, such as long-term retention of market share, competitors’ pricing strategies, and evolving market demand, as well as product innovations and other short- and long-term objectives. Many times, simply raising prices to keep pace with inflation can be counterproductive, especially when other strategies can be considered and pursued.
To help business leaders navigate this unprecedented terrain, Martec Group has updated and republished our popular Pricing eBook that examines three such strategies in detail, including some of our own proprietary and unique methodologies.
Available for download here, the ebook covers:
- Price-Value Mapping
- Benefit-Value Analysis, a methodology developed by Martec Group
- Competitive Price Benchmarking
Now is an optimal time to assess and refresh your pricing strategy — to better position yourself for what the short-term future holds, and to position your company, brand and products for growth well into the future. You should conduct a pricing research study when you are:
- Shifting your pricing strategy
- Developing new products
- Entering new markets
