Everything manufacturers want to know about raising prices but are afraid to ask has been added to Bookmarks.
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.