Craving value: How fast-food brands can win in APAC's diverse market
Want to conquer APAC's diverse fast-food scene? Discover the nuances you need to master to win over consumers.
We’re proud to share that Gerard Loosschilder and Juan Andrés Tello from SKIM were asked to contribute to Chain Store Age online. In the resulting article, Gerard and Juan share insights on how to set the right price in balance with the value of your brand.
Setting the right price is vital, because price is a key marketing lever and it expresses brand value in a competitive context. The question is: how far can the brand increase prices while securing revenue? The answer is: up to the point where the price change is no longer offset by the perceived value of the product or service. The tipping point depends on the brand’s and product’s price elasticity. The brand can only raise prices without being penalized if elasticity is low.
The key is to focus on setting the right price in balance with the brand’s value. SKIM’s recent meta-analysis of over 200 pricing studies provides valuable insights on how to achieve that balance. The analysis covers a wide range of categories, brands and retail channels across countries. Here, the focus is on variations in price elasticities across retail channels. The results are applicable to virtually any retail brand.
Gerard Loosschilder, Partner and Chief Methodology Officer
Juan Andrés Tello, Director Americas
Are you interested in learning more about this topic? We recently discussed it in our fall webinar cycle. Watch the recording and download the slides here on our website.
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SKIM has named Maura Coracini as Managing Director, Latin America. Based in the São Paulo area.