Sector: Consumer Products
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The Marketing Challenge Behind CPG Volume Growth
As the CPG industry confronts its post-COVID “new normal,” there is a clear imperative for stronger coordination between marketing and revenue management functions to drive consumption growth. This focus is necessary because volumes for CPGs will remain under pressure in the near term. In part as a response to significant price increases over the last…
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Pricing Enters the C-Suite Agenda
We contend that the right pricing strategy can change the entire trajectory of a business, a market, and even society. Judging from trends in the job market, it seems that companies also believe it. The fastest growing professional role in the United States over the last five years is Chief Growth Officer, according to LinkedIn’s…
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Winning the Value Game
When Apple launched its Vision Pro headset in June, the price point of $3,499 grabbed many of the headlines and sparked countless discussions. Was the price too high? Was it justified? Was it too hard to decide? For Apple itself, however, the price didn’t warrant a headline. It ended up as a footnote. Why did…
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How Temu Uses Psychological Hacks to Encourage Overspending
Is the popular e-commerce site Temu a sophisticated experiment in balancing supply and demand? Or is it a combination of a fun treasure hunt with games of chance? This article looks at some of the psychological effects that seem to drive the site’s growth and popularity, with low prices being only one factor. See the…
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Apple Vision Pro use cases
Now that Apple’s Vision Pro headset has been available for a week, the focus of the discussion has shifted from its price point to another fundamental question: how will it create value? Countless naysayers have already said that the device will flop because there aren’t killer applications or use cases to justify anything close…
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Why Your Business Needs a Pricing Strategy—Not Just Tactics
🎙️ Just Released: My Podcast Conversation on ‘Game Changer’ and Modern Pricing Strategies 📘 I’m thrilled to share my discussion with Mark Gandy and the CFO Bookshelf Podcast is now available to listen. It was a fantastic discussion covering our new book “Game Changer”, and a deep dive on the art of strategic pricing, exploring…
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Corporate America tests limits of pricing power
Between the lines in the intriguing New York Times article below, I see two critical points about why the recent wave of inflation occurred and what will happen in 2024 and beyond. Recent inflation reflects a long overdue price correction, not a collision of macroeconomic forces. Prices were trapped in the opposite of a bubble,…
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Mature consumers become critical market
BCG’s latest research finds an untapped opportunity for brands who think they have exhausted their markets: the nearly 1 billion consumers between the ages of 50 and 70, who are more resilient, more online, and more influential than most businesses realize. “Don’t Overlook Your Mature Consumers” explains the power of this group and the multi-trillion…
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Human-centered design starts with caring for people
“Human-centered design starts with caring–for people, society, and the planet.” BCG X Managing Director Christine Astorino recently had the chance to catch up with PepsiCo’s Chief Design Officer Mauro Porcini to explore how companies should be thinking about human-centered design. Be sure to check out their insights in the video below.
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Leading online shoppers to the finish line
Multiple sources invite shoppers to visit new e-commerce sites daily, and customers have grown to expect a seamless, tailored shopping experience across multiple channels and devices. E-commerce sellers need to determine which customer requirements and technology enhancements can most effectively attract shoppers and motivate them to enter the checkout flow and complete the purchase. BCG…
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Tipping at Self-Checkout
Pricing often seems like a dry, quantitative human activity subject to universal forces. That’s why it’s fascinating to see what happens when cultural traditions – not mathematical rules – influence how a company chooses its pricing model, and how that choice can have significant social consequences. Witness the practice of tipping, as this article in…
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High-tech touchpoints change consumer experience
High-tech touchpoints are significantly changing the customer experience, BCG’s Karen Lellouche Tordjman and Marco Bertini told Harvard Business Review. Advanced technologies and customer touchpoints are now intersecting to create powerful customer experiences that were either unimaginable or unfeasible for most companies a decade ago. As a result, customer journeys are now moving from linear sequences…