Blog articles about Price and Portfolio Management

Webinar “eCommerce Best Practices: Optimize Online Product Assortment, Prices and Promos”

Webinar “eCommerce Best Practices: Optimize Online Product Assortment, Prices and Promos”

By Nicole Gardere on May 19, 2020

With the massive acceleration of online shopping and intensification of competition, brands face a fierce battle to win consumers online.

Optimizing your online product assortment, prices and promos is more essential than ever.

Do you know the best practices that can give you a competitive edge?

  • Since each online retailer offers shoppers a different experience, you need to know why consumers opt for one site over another. Knowing this information and what type of products shoppers are looking for, lets you better tailor your product assortment to fit each online channel.
  • Shoppers are bombarded with an almost infinite number of products online. Knowing how they search, filter and sort can help you improve your product’s visibility. Discovering how online shoppers make decisions in your category can directly impact sales.

Many consumers are trying online shopping for the first time. Now is the time to adopt these proven eCommerce strategies – to create loyalty and win consumers.

Sign up for EMEA/APAC session

Sign up for US/LATAM session

Date: Wednesday, June 10th 
Time:
10:30 CEST / 12:30 EDT
Presenters:

Mini Kalivianakis, eCommerce Practice Lead, EMEA
Joey Ophof,
Senior Analyst

 

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Pricing and NRM success strategies: Adapting after the crash

Pricing and NRM success strategies: Adapting after the crash

By Dirk Huisman and Robin de Rooij on April 29, 2020

The COVID-19 crisis and the Corona crash are shaking the context for consumer decision behavior. As a result, the context for net revenue management (NRM) has also been disturbed for consumer goods companies.

Companies must adapt revenue strategies to the new situation, at the same time as consumers are adapting to “the new normal.” To be successful, you need to anticipate and influence consumer decisions in a changing environment. This holds true in times of normalcy, but especially during the recession to come.

Although the COVID-19 crisis is not yet over, learnings from previous crises and knowledge of consumer behavioral frameworks mean we can map out consequences for net revenue management strategies.

So, what should you consider in planning your next moves?

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COVID-19 and Decision Behavior Disruption

COVID-19 and Decision Behavior Disruption

By Dhika Democrat on April 17, 2020

COVID-19 price sensitivity research
Download the results: "Impact of COVID-19 on consumer price sensitivity"

Contents

Decision behavior amidst disruption
Adapting your marketing mix for short and long-term success
Adapting your pricing and NRM strategies
How to optimize your eCommerce strategy during disrupted consumer behavior
Exploring psychological distance, social distancing and decision

Decision behavior amidst disruption

COVID-19 is changing consumer decision behavior. Stay-at-home guidelines and stock shortages have accelerated online behavior and trials of new product choices. Which behavioral shifts will last?

Read how you can put the SKIM decision loop into action

As marketers, you need to quickly adapt to consumers’ short-term needs, while also keeping an eye on shoring up your long-term strategies.

To make the right decisions, it’s vital to understand the fundamentals of decision behavior.

The SKIM Habitual-Deliberate Decision Loop provides a framework for companies to understand decision behavior and help guide their business strategies – to achieve both short- and long-term goals.

It is especially useful to understand how COVID-19 dramatically changed the context of decision making. For consumers, the global crisis triggered a disruption, moving their “habitual” purchase decisions to more “deliberate” shopping behavior. With over 40 years of expertise analyzing consumer behavior, we’re here to help with tips and best practices.

Read more about the steps you can take to adapt to consumer decision behavior in the wake of COVID-19.

Adapt your marketing mix for short and long-term success

You know you need to adapt your marketing mix as you react to unprecedented events. To thrive in both the short and long term, it’s important to adapt your “4Ps” (product, place, promotions, and price) in the context of decision behavior.

The 4Ps are the factors you can control, despite uncertain times. Ensuring your strategy for each one is rooted in behavioral frameworks will give you the competitive edge.

Read on for practical considerations to keep in mind when using the traditional 4Ps.

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How brands can be relevant during the COVID-19 crisis

How brands can be relevant during the COVID-19 crisis

By Arne Maas on April 8, 2020

Consumer behavior is usually embedded in daily habits; sometimes consumers make more deliberate decisions. COVID-19 triggered a dramatic change in the context of consumer decision making: Many daily habits have come to an abrupt halt; more decisions are now deliberate.

Your company is probably feeling the immediate impact of these behavioral shifts and you may be charged with adapting short-term marketing strategies accordingly.

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Marketing strategies post COVID-19: What you should know about decision behavior

Marketing strategies post COVID-19: What you should know about decision behavior

By Karin Lieshout on April 2, 2020

COVID-19 has radically changed the context in which we make decisions, disrupting many habits. No one can predict if the behavioral shifts will last or what the recovery period will look like.

Online shopping and media consumption will undoubtedly continue to grow (as it was pre-COVID-19) … but to what degree? Will brand-loyal consumers who switched brands due to limited stock eventually return?

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How Unilever is driving growth opportunities with NRM

How Unilever is driving growth opportunities with NRM

By Joyce van Heeswijk on February 12, 2020

FMCG revenue professionals are challenged with creating a win-win-win situation: Provide consumers with the right product at the right price, create value with retail customers in challenging times, all while delivering top and bottom line growth. And all of this while working within legal limits in countries that prohibit resale price maintenance.

Leading consumer goods companies are increasingly adopting a net revenue management (NRM) approach to tackle this challenge. By applying a structured approach to analytics and encouraging open-mindedness, companies like Unilever are maximizing their net revenue and profits.

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How Nestlé is shaking up the coffee shelf with Starbucks

How Nestlé is shaking up the coffee shelf with Starbucks

By Joey Ophof on November 20, 2019

Exploring a virtual shelf approach to launching a premium brand

In 2018, Nestlé signed a $7.2 billion deal to market, sell and distribute Starbucks’ packaged products outside of the company’s cafes, providing Starbucks at home. With high brand recognition, Starbucks would clearly make an impact at the coffee shelf. However, one of Nestlé’s European insights team saw an opportunity to rethink the crowded grocery store shelf to drive even more growth – for Nestlé and its customers.

Albert van Meeteren, Nestlé’s Head of Consumer and Shopper Insights and Analytics, wanted to see how they could best launch Starbucks in a “new and innovative” way in Dutch supermarkets by focusing on in-store execution.

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Ready for the next stage of pricing research?

Ready for the next stage of pricing research?

By Stefan Ammerlaan on November 8, 2019

Exploring a data-fusion approach for holistic pricing decisions

Whether you’re introducing a new SKU or reacting to a market change, managing your pricing strategy can often feel like a complicated balancing act.

You know solid revenue decisions should be grounded in sound data, but that input often comes from a variety of sources and stakeholders.

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How VodafoneZiggo optimized its portfolio by better predicting consumer choices online

How VodafoneZiggo optimized its portfolio by better predicting consumer choices online

By Wessel Roose on August 9, 2019

Understanding decision-making and choice overload in crowded markets

In today’s highly competitive telecommunications market, consumers face an abundance of choices online. To thrive in this environment, your product portfolio strategy should be optimized based on how decision-making is changing. You need to know how customers identify the best carrier and plan for their needs. And that’s where the most accurate customer and market insights can help.

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How pricing research is helping FMCG brands fight inflation in developing countries

How pricing research is helping FMCG brands fight inflation in developing countries

By Robin de Rooij on February 26, 2019

When inflation hits, your pricing strategy inevitably feels the pressure. On the one hand, raising product prices will protect margins. On the other, you can’t risk pricing yourself out of the market. When consumers feel this pressure, their spending habits are likely to change, especially in developing countries and high-inflation regions.

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