A recent article posted on LinkedIn Pulse referenced a report by The Temkin Group that listed grocery retailers as being among the most trusted companies in the country! The report was based on data from an online survey conducted in January 2015 of 10,000 US consumers.
Wow – nice going, guys!
The article’s main theme, however, focused on the concept of customer-driven pricing, which seems like an impossible objective… after all, one might think that, if given the choice of setting a price, customers would tend to suggest zero dollars.
But the article addresses this issue, and also goes on to more specifically define the concept of customer-driven pricing. Author Graeme McVie also suggests that “…customers are sufficiently knowledgeable about the way the commercial world operates to realize that retailers need to make a profit to stay in business, and, as such, the retailer needs to charge them something rather than nothing.”
While the piece went on to present several ideas on pricing models and to pose a number of additional questions, there were no clear conclusions drawn about the best or most effective pricing strategies for supermarkets.
However, McVie stated that these questions would be addressed in upcoming articles and discussions on LinkedIn within the “Grocery Executive Network” group.
Maybe you’d like to join the group to see what comes up next?