Many companies are forced to pass on increased costs to maintain their own revenues. However, a recent online Simon-Kucher survey on price increases revealed that only 17% implement their price increases successfully. Why is this? In this article, author Nina Scharwenka discusses how to beat price pressure and successfully implement price increases. The key to success lies in the preparation.
Amidst rising costs, it is important for building materials suppliers to consider the best way to position their products to buyers, so that they can increase prices without losing market share. In this article, the author explores best practices for implementing price-increases and value-based pricing in construction related industries. This industry specific example provides pricing considerations and best practices that can be applied across industries.
Brad Soper (Brad.Soper@simon-kucher.com) is a Partner at Simon-Kucher & Partners and leads the US B2B practice. He has more than 10 years of consulting experience and is an expert in pricing strategy, sales effectiveness and pricing improvement transformation programs. Hendrik von der Brelie (Hendrik.Brelie@simon-kucher.com) is a Director at Simon-Kucher & Partner and co-leads the Building Materials vertical. He has more than 7 years of consulting experience in B2B and is an expert in price setting and price implementation programs. Dave Clement (Dave.Clement@simon-kucher.com) is a Director at Simon-Kucher and Partners and co-leads the Building Material vertical. He has more than 6 years of consulting experience in B2B and is an expert in pricing governance, customer segmentation & go-to-market strategy programs.