Everything manufacturers want to know about raising prices but are afraid to ask
Process & Industrial Products
May 28 | 1:00 PM ET | 17:00 GMT
Host: Lisa Thompson, Principal - Deloitte Consulting LLP
1 Intermediate CPE Credit | Specialized Knowledge & Applications
Profitable margins are a key driver of profitable growth, yet few things terrify manufacturing executives more than price increases. The art and science of proactively preserving margins is a key strategic capability when input costs are volatile and demand is soft. We'll discuss:
- Challenges confronting manufacturers when price increases are needed.
- Practical strategies for raising prices, including clearly communicating intentions to the market and managing expectations on the timing of the increase.
- Typical success factors, including leveraging a superior value proposition and employing cost take-outs to mitigate price increase impacts.
Explore methods your manufacturing company can use to protect its pricing margins while minimizing customer losses.