How does my pricing compare with competitors?
Business Scenario
- Limited understanding of price positioning within the industrial market compared to key competitors
- Believed they were priced too high relative to competition and had been more aggressive on pricing historically
Our Approach
- Collected distributor and end user perceptions via
- 20 in-depth interviews with distributors & end-users
- Online survey of 200 end-users
- Competitive web-scrape across 6 distributors
The Results
- Offerings were perceived as moderately priced vis-à-vis competitors
- Most competitors had increased price 10% in the past 6 months
- Prices were not consistently above competitors at key distributors
- Room to institute additional price increases without driving high switching behavior
Sample Market Intelligence Learnings
How do my customers perceive my value versus my competitors?
Scenario
- Concerns around competitor pricing, market share, and brand perceptions
- Competing beliefs across the organization around the feasibility and viability of implementing back-order price increases, surcharges, and unforeseen fees
- Unsure what influenced customer purchase behavior
Our Approach
- In-depth interviews to gather primary qualitative research around pricing, brand sentiments, and customer reactions to price changes
- Quantitative phone survey with end users to understand price positioning, key purchase drivers, and brand perceptions
The Results
- Unveiled opportunity to conduct targeted price increases on existing orders
- Proved that current pricing maintains a robust price-to-value proposition in the market
Sample Market Intelligence Learnings
How should I position my value in the market to take pricing actions?
Business Scenario
- Needed objective insights on customer perception relative to competitors on price and service quality
- Required a better understanding of how perceptions varied by global regions
Our Approach
- Completed 23 in-depth interviews with leading current and prospective customers
- Sampled customers in North America, EMEA, APAC, and LATAM regions
The Results
- Internal perception didn’t match the market’s perception – customers believed the business offered the best service at a competitive price
- Competition was limited in most global regions with customers having few options meeting service and performance levels
- Research showed that client could take bold pricing actions with limited risk
Sample Market Intelligence Learnings
