Pricing Strategy to Beat Inflation with Hermann Simon
Inflation, as we know, has profound and far-reaching effects in myriad ways. It affects virtually all facets—from individuals to businesses to countries—of the economy. Among this uncertainty, business strategists face their own set of challenges, risks and decisions they must make to keep their company competitive, if not afloat.
In this Roundtable discussion, Hermann Simon, Founder and Honorary Chairman of Simon-Kucher & Partners and expert in strategy, marketing and pricing will share insights from his newest book, Beating Inflation. Having written over 35 books, many of which became bestsellers on the topics of strategy and pricing, Hermann wrote this most recent one in response to this current wave of inflation.
In this Roundtable he’ll cover the many elements of inflation and its impact on businesses, including:
- How to prepare your management and corporate culture for agility in response to inflation
- Specific pricing strategies that employ strategic stepwise price increases, rather than large and infrequent reactionary pricing strategies
- How to mitigate the impact of inflation on profits, which typically hover around 5%
- How to determine optimal price during inflation keeping in mind the three critical factors of value-to-customer, costs, and competitive prices, rather than passing on inflation costs entirely to the customer
- How to manage and strengthen your pricing power to stay competitive
- Which smart pricing tactics to employ, under what circumstances and for how long, versus which ones to avoid
