Supply chain disruptions, rising energy costs, and increased consumer demand are driving inflation rates up to levels not seen in decades. However, even after months of increases, many companies are struggling to respond effectively to the situation. To learn more about their perspective, Simon-Kucher & Partners undertook a global Inflation Pricing Study and developed this 9-step process for companies trying to navigate pricing amidst these economic challenges.
With most of the global economy struggling to recover from the COVID-19 crisis, one would expect households to be tightening their budgets. But how thrifty are consumers when faced with an actual buying decision? In particular, how attentive are they to the price tag? And are they always likely to go for the cheapest option or only under certain circumstances?
China’s 2020 NRDL (National Reimbursement Drug List) process has been unfolding since July this year with a number of new changes and interesting twists. Based on the authors’ experience and observations, as well as ongoing discussions with key players and stakeholders in the industry, they have identified three themes and made five predictions on the likely outcomes of 2020 NRDL process.
Tariffs generate seemingly endless complexities, which change by the month and muddy the waters of any coherent pricing strategy pricing teams try to implement. What can pricing professionals do right now to preserve margin, maintain volume and remain compliant with audit requirements? This article outlines recommendations that have been developed through first-hand experience with customers dealing with tariffs in multiple industries.
In this article, the author explores the 'impossible trinity' in pricing, which has to do with the three key features aphorism (good quality, nice look and low price), and how this trinity relates to customer price perception.
Many companies make the mistake of keeping their pricing strategy sedentary as they expand to different markets. However, there are many types of robust pricing research that your business should conduct before entering new markets. In this article, the author explores the importance of one of the most critical elements of this research: psychological pricing in your target market.