To harness its power, marketers must first face their fear of pricing
Andrew GeogheganMarketers shy away from pricing strategy because they lack ownership and confidence, but they need to see it for what it is – their most powerful tool.
At a loss with pricing? Try applying behavioural science
Richard ShottonA good grip on pricing is a sign of a strong brand, and several behavioural studies offer insights into effective pricing strategies.
P&G vows to increase digital marketing spend amid growing cost pressures
Manny PhamP&G spent $130m (£94m) on marketing over the first quarter of its financial year, while also reporting a 5% boost in net sales to $20.3bn (£14.6bn).
Tesco renews focus on premium products under four new ‘strategic priorities’
Michaela JeffersonThe grocer’s strategic priorities for the year ahead include providing ‘magnetic value’ for customers, continuing to evolve its Clubcard proposition, convenience and driving cost-savings.
John Lewis and Waitrose report ‘encouraging progress’ on five-year turnaround strategy
Michaela JeffersonThe John Lewis Partnership has reported strong results from its scheme to bring the John Lewis and Waitrose brands closer together, as well as from the launch of its value Anyday range.
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Tom Kerridge’s prices aren’t a rip-off if they’re what the market will pay
Mark RitsonForget worshipping at the altar of revenue. Marketers who take a leaf out of Tom Kerridge’s book and embrace pricing power will find the surest route to profitability.
Sainsbury’s speeds up innovation as part of value drive
Manny PhamCEO Simon Roberts says Sainsbury’s is on track to triple the rate of product innovation, with plans to add a total of 1,900 new products over the year.
M&S hails early success of Ocado tie-up despite major group loss
Michaela JeffersonM&S recorded a £201.2m loss for the last year, but with Ocado’s strong performance and a shift in marketing strategy, CEO Steve Rowe believes the retailer’s transformation strategy is at an “inflection point”.
Morrisons moves price up the agenda as it looks to become ‘more competitive’
Michaela JeffersonWith a new loyalty scheme, expanding Amazon partnership and plans to invest in communications, Morrisons is confident it will recover from the impact of Covid-19 over the coming year.
Sainsbury’s hails Aldi price match success as value push pays off
Michaela JeffersonCEO Simon Roberts says Sainsbury’s extended price lock programme and Aldi Price Match scheme is already driving improved value perception among customers.
John Lewis eyes price conscious shoppers with value own brand launch
Charlotte RogersThe retailer is launching Anyday, its “most affordable” own brand range of 2,400 products designed to undercut existing collections and attract a broader range of money conscious consumers.
Marketoonist on revenue
Tom FishburneTom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here
Why marketers need more input to ensure the price is right
Matthew ValentineConsumers rethink what value means in times of crisis. Do marketers need to be more involved when brands do the same?
Asos: Being open and transparent is key to building brand trust
Sarah VizardAsos believes the Covid-19 pandemic and supply chain allegations at rival Boohoo make clear and transparent communication more important than ever.
Junk food promotions to be banned in healthy eating drive
Sarah VizardThe government is considering banning junk food promotions and ‘guilt’ aisles, but it appears a ban on junk food ads is not part of the plan to tackle obesity.