In a time of changing consumer behaviour, massive competition and economic uncertainty, advanced pricing strategies are becoming one of the most important levers of success facing manufacturers and retailers. Here are a few views and interesting reading from across the industry.

A Few Quotes from Across the Industry:

• “The single most important decision in evaluating a business is pricing power,” Warren Buffet, CEO Berkshire Hathaway
• “Effective pricing strategies and tactics can deliver a 2 to 7 percent increase in return on sales.” McKinsey
• “Price and customer experience are intricately bound. Thanks to digital advances … effective pricing is considered as fluid as any other factor that influences the customer experience.” Accenture
• “Acting as a lever, small pricing improvements can realize big bottom-line benefits. Yet fewer than 3 percent of businesses effectively manage, execute or communicate prices.” Deloitte 
• “Many FMCG companies have found that managing the SKU mix is the key lever for ensuring that pricing strategies bring year-over-year benefits. Companies should strive for a clear pack price architecture by channel—based on sound shopper insights—that the sales teams can take to the trade.” BCG