In today’s fiercely competitive Consumer Packaged Goods (CPG) landscape, keeping a close eye on your pricing strategy is paramount. Strategically pricing your brand relative to competitors and gauging consumer perceptions can significantly impact your market position. It’s not enough to merely set prices; you must continually track and adjust your strategies to stay ahead.

In this recorded webcast, Thorogood Data and AI consultants Lauren Potechin and Filipe Deo delve deep into CPG pricing strategies. Discover how data-driven insights can empower your pricing decisions and elevate your brand’s performance in the market.

In this webcast, we cover:

• Significance of Pricing Targets: Discover why companies must establish pricing targets relative to competitors or market conditions, and the critical role they play in guiding strategic decisions. Learn why continuous tracking of these targets is essential and how this information aids in evaluating the need for price adjustments.
• Measuring Willingness to Pay (WTP): Explore the importance of understanding consumer perception and Willingness to Pay (WTP), which reveals how consumers perceive your brand—whether it’s seen as a premium or as a value/economy brand. Gain insights into leveraging this knowledge to drive effective pricing decisions.
• Economic Factors in Pricing Strategy: Delve into economic factors like inflation and changes in the average market prices over time. Learn how these factors, when considered alongside pricing targets and consumer perception, provide a stronger rationale to justify price adjustments.

Watch our webcast to find answers to crucial pricing questions such as:

• Is your brand overpriced, and how does it compare to competitors?
• Is there potential to increase the price of your product without losing market share?
• How can economic insights help you make data-backed pricing decisions?
• Are there untapped opportunities to optimize your pricing strategies?

This event is perfect for brand managers, pricing analysts & strategists, data scientists, and generally anyone seeking to enhance their understanding of CPG pricing strategies and measurement techniques.