Smarter Pricing: How to capture more value in your market

Chapter takeaways

• Brand leaders expect challengers to undercut them. But today’s hard-discount competitors are having a greater impact.

• Matching prices brings down industry and company profits.

• The better response is to focus on benefits that the discounters strip away. Ten approaches are suggested to protect a premium price.

• Prices may need to be trimmed to continue to deliver value, but some level of premium should be defended with benefits. Ultimately, some price-sensitive customers will be lost but allowing this will preserve value in the market.