Five pricing principles marketers can use to foster greater consumer happiness
Helen EdwardsCustomers are becoming increasingly savvy about pricing tactics, but there are ways for marketers to avoid resentment. However, they come with a catch.
Customers are becoming increasingly savvy about pricing tactics, but there are ways for marketers to avoid resentment. However, they come with a catch.
McDonald’s has pressed forward with price hikes this week, having already demonstrated the ability to do so without affecting sales. Meanwhile, Kraft Heinz and Nestlé are struggling to find the right balance.
Whisky brand Jameson has increased the ROI on its media spend by 40% in the US, thanks to Pernod Ricard’s digital transformation efforts, the business claims.
Last year also saw Heineken boost its marketing spend above pre-pandemic levels, with the brewer claiming to get more out of this investment than ever before.
Prices will be reduced by 14% on average across everyday basics such as carrots, tea and sausages.
The FMCG giant has invested in 29 digital marketing and ecommerce hubs to ensure the business succeeds in the “channel of the future.”
Yum! Brands’ net sales increased 7% to $2bn (£1.7bn) in its fourth quarter, while global same-store sales increased 6%.
The Danish brewer reported operating profit growth of 13.2% to DKK 11,470m (£1.38bn) for 2022, with organic revenue up by 15.6%.
Is now the time for marketers to grab hold of the 4Ps? Or is discussion of reclaiming price, product, place and promotion simply “navel gazing”?
Meanwhile, the company has said it has no plans to roll back prices or increase promotions this year.
Boasting its “biggest ever bundle of savings”, Boots plans to offer up to 50% off discounts on its most popular brands identified via customer research.
By discounting for the first time, Tesla is not only starting an electric vehicle price war, it is communicating its weakness to existing and future customers.
Supermarkets have reported strong Christmas results despite economic headwinds, but analysts say for the traditional grocers, this good fortune is unlikely to last.
The founder of investment firm Trian Partners has said Disney is in “crisis”, calling for major changes at the media giant and a seat on its board.
Some customers also switched to discounters Aldi and Lidl over the festive period, but for Tesco this was more than offset by gains from other supermarkets.