MY Insight

The Price Is Right 

"Power pricing" is more effective than cost cutting in beating the crisis

Simon, Hermann

Date: First Quarter 2011

Tags: pricing, margins, elasticity, value, ultra low-price segment

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It’s important not to get sidetracked into thinking that cost cutting is the best and only way to deal with the crisis. Managers’ real focus ought to be: How can we offer safe, reliable value to our customers? Once we have created value – in terms of quality, brand and service – then we can set a price that reflects this value. I call this “power pricing.”

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