How to Price Consumer Products FMCGCPG
What you’ll learn
Create and document a winning Pricing Strategy for Consumer Products
Have a sound understanding of the 6 key factors that influence a Consumer Pricing Strategy
Understand how key elements of the Pricing Strategy impact a Product P&L
Requirements
Simple Mathematics
Basic Marketing Principles
Description
This course will equip you with a good understanding of how large consumer brands (FMCG/CPG) set and manage product pricing in the real world. If you are looking for detailed academic theory then this course may not be for you. Please view the “Course Overview and Structure” and “What is a Consumer Pricing Strategy?” free course videos before purchasing this course so you are clear on what you are about to purchase. The course showcases in simple english the concepts behind pricing a consumer product, and then puts them to practical use with a detailed example. If you are not comfortable with the English language and basic Mathematics, then this course may not be for you.You can download the P&L and Category Analysis Grid templates in Excel, which you can then customize for your brand or business.In about 60 minutes of video you will gain from my 20+ years of senior marketing and category management experience with some of the biggest consumer brands in the world across both developed and emerging marketsWhether you work for a large consumer product business or are a small business competing against the global brands or you are a start up in the food and consumer product space, this course will add to your understanding and capability on pricing and category management, while helping you be in control of your P&L.
Overview
Section 1: Course Structure, Sequence and definition
Lecture 1 Course Overview and Structure
Lecture 2 What is a Consumer Pricing Strategy ?
Section 2: The 4 Key Components or Decision points of a Pricing Strategy
Lecture 3 The 4 Key Components / Decision Points of a pricing strategy
Section 3: 6 Key Factors that influence a Pricing Strategy
Lecture 4 Part 1 of the 6 key factors that influence a Pricing Strategy
Lecture 5 Part 2 of the 6 key factors that influence a Pricing Strategy
Section 4: OLA – Example of writing a Pricing Strategy
Lecture 6 Part 1 OLA – Brand Strategy and Positioning
Lecture 7 Part 2 OLA – Product Cost
Lecture 8 Part 3a OLA – Category & Competition Pricing
Lecture 9 Part 3b OLA – Conclusion of Category & Competition Pricing
Lecture 10 Part 4 OLA – Product Substitutability
Lecture 11 Part 5&6 OLA – Financial Position & Brand Role
Lecture 12 OLA Final Recommendation, P&L Check and Documentation
Section 5: P&L Sensitivity to the 4 Key Components of a Pricing Strategy
Lecture 13 The OLA P&L sensitivity
Section 6: Bonus Section
Lecture 14 Bonus Lecture
Students and Professionals who aspire to or already work in marketing, brand management, category management or sales with a consumer product organisation,Start ups, business owners and managers who sell any kind of consumer products,Finance, Operations & Supply Chain professionals who want to understand a how marketing arrive at and implement a Price Strategy,Experienced professionals looking to revisit fundamentals and implement new Pricing methodologies and processes in a consumer product organisation
Course Information:
Udemy | English | 1h 6m | 1.21 GB
Created by: FMCG Academy
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