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To Price or Not to Price -- That is the Question: Predicting the Effect of Price Increases (A Non-Technical Explanation)

 
 
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Wednesday, October 7th

 
 
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9:45 - 10:30 AM

 
 
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About the Presenter:

 
 
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Eliot Roth, Senior Manager, Pet Custom Research, Delmonte

Mr. Roth has 20 years of market research
industry managing both custom primary
and advanced analytics departments.
Over the past 3 years, his key focus has
been All Outlet sales estimates and
forecasting models. A key component
has been better understanding the
relationship between industry and brand
pricing and sales.

 
 
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About the Workshop:

 
 
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From the dawn of business, pricing has been a key question. The early cave man asked, “If I increase rock prices by 10%, how much business would I lose?” Today, through the magic of multivariate regression, we have price elasticities, which have historically been used to estimate volume loss. Unfortunately, many marketers have found that the traditional price elasticity method has not accurately predicted future sales, which has caused managers to add arbitrary adjustments to the calculation (no calculation with the word arbitrary can be good). Over the past two years ultra-volatile commodity prices have compounded the situation, causing prices to be evaluated more frequently and in a highly dynamic competitive environment. Delmonte has developed an analysis philosophy which better estimates consumer reaction to price changes. The methodology includes competitor actions and larger macro trends. This presentation will include their new price effect methodology along with their learnings from the process.
 
 
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  • Created on Oct 3, 2009
  • Updated 8 months ago
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