Successfully Implementing a Price Increase in Consumer Packaged Goods
Successfully Implementing a Price Increase in Consumer Packaged Goods
2 PagesMany companies only consider price changes when there is a new product launch or brand acquisition. Our client, a tier two CPG company, knew they needed to raise prices but they faced downward price pressure from their distributors/retailers. They needed a strategy to combat pricing objections and capture the fair value of their products The team leveraged existing data, conducted competitive research, and applied Pricing Solutions’ proprietary methodologies to build a solution that the client could implement with confidence. Pricing Solutions created a price increase process for each brand which allowed the client to achieve a 97% acceptance rate on their updated prices. The Challenge The client hadn’t been able to raise prices in years. They had tried to raise prices ho
