최PM의 블로그 - 제약 마케팅, 영업, 전략, 기획

마케팅의 4P 중에 Price도 있다는 거 아시죠?^^
가격은 제품 구매를 결정하는 여러가지 요인 중에서 가장 현실적이고 가장 직접적인 요인중에 하나입니다.

사실상 관행적인 약 10% 수준의 유통마진 이상은 불법으로 규정하는
한국의 전문의약품 시장환경 하에서 가격정책이라는 것은 좀 현실과 떨어진 이야기처럼 들리기도 합니다.
하지만  PM이라면 가격전략에 대하여 진지하게 고민해 봐야 합니다.
법 따로, 현실 따로인 따로국밥 현상이 제약시장에서 비일비재하게 나타나기 때문입니다.

너무 깊게 이야기하면 잡혀갈 소지가 있기 때문에 오늘은 하버드비지니스리뷰에 최근 소개된
"Pricing Strategies for the Downturn"이라는 제목의 Article을 하나 소개합니다.

한번쯤 읽어보고, 스크랩해둘만한 글이네요.^^

Pricing Strategies for the Downturn
7:20 PM Tuesday March 3, 2009
by Paul Nunes

Tags:Customers, Marketing, Sales

I used to love the television game show "The Price is Right." Beyond the insane level of excitement of the show was the oddly compelling quest to discover the right price of everyday items like refrigerators and bar stools. I always wondered how people could be off by multiples of the actual price--"people" including me, I confess.

But guessing prices on television is not the same as paying prices in stores. In real life, shoppers aren't so easily bamboozled. In fact, these days, they're paying especially close attention to prices, and are much more likely to know exactly how much they're paying for that bottle of shampoo or packet of shredded mozzarella.

For bigger-ticket purchases such as TVs and car insurance, they're helped with a myriad of comparison tools on the Internet--and by social networks that spread the word about how to get the best deals. And now, with applications such as ShopSavvy on the latest smartphones, shoppers can make instant in-the-store price comparisons just by taking photos of product barcodes.

But with such pricing transparency just a thumb-stroke away, does that mean that shoppers are never willing to pay full price?

Not quite. Pricing power doesn't necessarily decrease in a downturn. Although sales and discounts seem to be the order of the day, vendors have more opportunities to maintain prices than they may think. For example, there is often a segment of loyal customers who do not expect or need to be persuaded with a discount to purchase. And although there's no end of grumbling, customers can be surprisingly tolerant of across-the-board price hikes that they understand are related directly to increases in raw input costs such as fuel for airlines or milk for ice cream.

Aside from the obvious profit loss caused by hasty discounting, there is the more pernicious reality that discounting and promotions condition the buyer to expect lower prices. This customer mindset makes it hard to raise prices later when times are better. In addition, in what Accenture calls the discount trap, a reduction in price requires a stiffer increase just to bring the price back to par--thus a 30 percent drop requires a 43 percent increase. So customers are likely to perceive future upward price adjustments as larger than the discounts.

Before discounting, companies should consider several factors to determine if they can instead hold the line. First, consider whether customers still need your specific products. Are substitutes readily available, and if so, how attractive are they? While demand may be down, the customers who are still buying might be brand loyal and willing to pay a premium for the smaller volumes they are purchasing. What risks do your customers mitigate by buying your products instead your competitors? Are you uniquely positioned because of your ability to provide timely deliver or servicing?

All of which points to the need to quickly and clearly segment your customers by their price sensitivity, gauging the likely effect that discounting will have on their current and future purchases. Having a strong pricing capability will help.

But then let's say you've assessed your customer base and your market share goals and you realize that you still have to offer discounts. (If you're an apparel retailer with excess inventories, for example, you don't have much choice, as a certain high-end fashion retailer recently learned to its cost earlier this year.) What then? There are plenty of ways to minimize the overall impact on your realized average price.

Here's my suggested starter list:

Be mindful of the customer's 'paycheck cycle.' The Wall Street Journal recently reported on how companies are successfully discounting based on how close customers are to payday. All buying power is relative--and it can vary greatly from week to week and even from day to day.

Create a perceived discount by including an extra amount "free." It's an old trick, but still a good one: Giving customers "20% more!" product may cost a lot less than offering them a 20 percent discount while appearing equal in value to the customer.

Discount on a customer-by-customer basis. Haggling is back. And it's everywhere. Customers are now prepared to ask for discounts even in grocery stores. Companies should let their sales people know how much leeway they have to negotiate a deal, and should train them to ensure they consistently realize the best negotiated price.

Offer old-school financing. Remember layaway? These payment-deferral programs are back, enjoying a revival among some retailers like Kmart, for example. And a new firm, eLayaway , has updated the concept, allowing customers to choose products from about 1,000 local retailers online. The site arranges for monthly deductions from customers' bank accounts in return for a 1.9 percent service charge.

So what are you seeing out there? Where is pricing power holding up, and why? Where are discounts going wild--and what is that doing to those industries? Any discounts that seem too extreme?

하버드 비지니스리뷰에 실린 최신 글입니다. PM에게도 도움이 될만한 글인 것 같아 퍼 왔습니다.^^
품목 매출이 줄어들고 있는 PM 에게는 특히^^;;

Three Opportunities to Seize in the Downturn
5:12 PM Friday February 20, 2009

One of the most pernicious tendencies companies fall victim to in downturns is to focus on and project out near-term data points. The result? An inaccurate reflection of the future. The current extreme economic conditions only exacerbate this tendency.

So what can you do about it? The key to winning now is to focus on business basics. Real 101-type stuff. To again quote Warren Buffet, "In the short term the market behaves like a voting machine and in the long term it behaves like a weighing machine." In this economic climate, a company should focus on what makes any business great - superior cash flow and sustainable growth. This implies one of two solutions: a defensive survival position, or, if resources allow, being more aggressive on opportunities that will be rewarded in the long-run.

My business is venture and growth equity investing in smaller private companies. The entrepreneur and pragmatist in me suggests we bolster our strong performing companies, cut more aggressively on losing propositions, but continue to selectively invest in good opportunities. In this downturn, cash may have been promoted from king to God. If you have it, now is a time of opportunity. If you don't have it, now is the slap in the face reminder to get it. Our message to our companies therefore is to ensure sufficient cash on the balance sheet and cash flow generation. If that is in place, then we urge them to consider the opportunities emerging through recalibrations happening in the market.

I see three major resets continuing through 2009: talent, valuations, and competition.

First, consider talent. People everywhere are finding that their stock options are underwater and probably will remain so. This creates a window for a smaller growth company to get that experience at a discount through more aggressive use of head hunters and job marketing. There are also numerous good people who have been collateral victims to necessary cut backs, or even worse, company collapses. I often think of an accounting firm we work with that has become one of the largest regional players from its start as a very small local shop. How? By picking up the Arthur Andersen accounting talent after the Enron fiasco, they not only got good people, but the clients that came with those people.

Second- the reset in the valuations of public and private companies creates a buyer's market. The rules around betting on fundamental strengths don't change, but there's a lot of quality that is now "on sale." If you have the cash, this is not a time to try and time the bottom - such strategies usually fail - but to look at this as an extended sale period in which you are not trying to get the very best price, just a very good price.

The third reset is closely related to the first two: In the fallout of any major economic upheaval, new winners and losers will appear. For stronger companies, now is a time to sharpen marketing messages and consider taking or building share while others competitors may not be in a position to do so. Even without acquisitions, businesses that can should step up and reinforce what makes them stand apart and why they are resilient in this market. Customers are more careful in their purchase decisions in these times- tell them why you deserve it.

Most of us will be subject to some macromyopia and will miss the exact bottom, but we should stay focused on what it will take to win the marathon and not this mile marker. For businesses owners and managers who are struggling, defend your position vigorously and do whatever it takes to preserve and generate more cash - surviving this period is worth at least a silver medal in the downturn. But if you have flexibility and resources, an eventual gold can come from some more offensive moves now while others are frozen. The answer is to not to go from irrational exuberance to irrational indifference. Naturally being macromyopic is forgivable, not recognizing that tendency and not acting on the appropriate measures within one's control, is less so.