Product Pricing Strategy Review Template

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Effective product pricing is crucial in the fast-moving consumer goods (FMCG) industry. This template provides a comprehensive framework for reviewing and managing pricing strategies to ensure they are competitive, align with market trends, and guarantee profitability.

By following the steps outlined in this template, economists can conduct thorough market research, analyze costs, develop and implement new pricing strategies, and continuously monitor and adjust to optimize performance.

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Product Pricing Strategy Review for Priority Matrix

Product Pricing Strategy Review in Priority Matrix

Review and manage product pricing strategies to ensure competitiveness and profitability in the FMCG industry.

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Proposed Tasks

High Impact, Immediate Action

  • Task 1: Market Research - due in 2 weeks
    ☐ Research market trends ☐ Identify key competitors ☐ Analyze competitor pricing strategies
  • Task 2: Internal Pricing Review - due in 1 month
    ☐ Review current pricing strategies ☐ Assess profitability ☐ Identify areas for improvement
  • Task 5: Pricing Strategy Development - due in 2.5 months
    ☐ Develop new pricing strategies based on market research and internal review ☐ Test strategies on a small scale
  • Task 6: Pricing Strategy Implementation - due in 3 months
    ☐ Implement new pricing strategies on a large scale ☐ Monitor results

High Impact, Strategic Planning

  • Task 3: Price Elasticity Analysis - due in 1.5 months
    ☐ Analyze price elasticity of our products ☐ Identify potential impact on demand
  • Task 4: Cost Analysis - due in 2 months
    ☐ Analyze product cost structure ☐ Identify potential cost-saving opportunities

Low Impact, Operational Tasks

  • Task 7: Performance Review - due in 3.5 months
    ☐ Review performance of new pricing strategies ☐ Make necessary adjustments
  • Task 10: Team Training - due in 5 months
    ☐ Train the team on implementing new pricing strategies ☐ Ensure they understand the rationale behind the changes

Low Impact, Long-Term Planning

  • Task 8: Report Preparation - due in 4 months
    ☐ Prepare a comprehensive report of the project ☐ Present findings to the management
  • Task 9: Future Planning - due in 4.5 months
    ☐ Plan for future pricing strategy reviews ☐ Identify potential market changes ☐ Prepare for potential strategy adjustments