How to Price Consumer Products (FMCG/CPG)? from Udemy

This course will equip you with a good understanding of how large consumer brands (FMCG/CPG) set and manage product pricing in the real world. If you are looking for detailed academic theory then this course may not be for you. Please view the "Course Overview and Structure" and "What is a Consumer Pricing Strategy?" free course videos before purchasing this course so you are clear on what you are about to purchase. The course showcases in simple english the concepts behind pricing a consumer product, and then puts them to practical use with a detailed example. If you are not comfortable with the English language and basic Mathematics, then this course may not be for you.

You can download the P&L and Category Analysis Grid templates in Excel, which you can then customize for your brand or business.In about 60 minutes of video you will gain from my 20+ years of senior marketing and category management experience with some of the biggest consumer brands in the world across both developed and emerging marketsWhether you work for a large consumer product business or are a small business competing against the global brands or you are a start up in the food and consumer product space, this course will add to your understanding and capability on pricing and category management, while helping you be in control of your P&L.

What's inside

Learning objectives

Create and document a winning pricing strategy for consumer products
Have a sound understanding of the 6 key factors that influence a consumer pricing strategy

Understand how key elements of the pricing strategy impact a product p&l

Create and document a winning pricing strategy for consumer products
Have a sound understanding of the 6 key factors that influence a consumer pricing strategy
Understand how key elements of the pricing strategy impact a product p&l

Syllabus

Understand how the course is structured, flow of learning and the definition and need of a Consumer Pricing Strategy

Course Overview and Structure

After this video lecture you will be able to have a good understanding of what the components of a Pricing Strategy are

After watching this video you will be able to understand how Brand Strategy and Positioning influences a Consumer Pricing Strategy

After watching this video you will be able to understand how Product Cost influences a Consumer Pricing Strategy

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Provides practical insights into pricing strategies, drawing from the instructor's extensive experience with major consumer brands, which is valuable for real-world application

Focuses on practical application with a detailed example, which is beneficial for professionals seeking to implement pricing strategies in their businesses

Offers downloadable P&L and category analysis grid templates in Excel, which can be customized for specific brands or businesses, enhancing practical utility

Requires comfort with the English language and basic mathematics, which may limit accessibility for some learners, especially those from non-English speaking backgrounds

Does not delve into detailed academic theory, which may not satisfy learners seeking a more theoretical or research-oriented understanding of pricing strategies

Reviews summary

Practical pricing for consumer products

According to learners, this course offers a largely positive experience, particularly praised for its practical, real-world application to FMCG/CPG pricing. Students appreciate the instructor's extensive experience, which provides valuable insights grounded in industry. The downloadable templates are highlighted as especially useful tools that can be immediately applied. While it provides a solid foundation and is great for those new to the topic, some more experienced professionals found it a little too basic, suggesting it excels as an introduction rather than an in-depth theoretical study. Overall, it's seen as a concise and valuable resource for professionals and businesses navigating consumer product pricing.

Solid basics, may lack depth for experienced learners

"Provides a solid foundation."

"Perfect for someone new to CPG pricing."

"Too basic for me, I already knew most of this."

"Wish it went deeper into advanced strategies..."

"Great introduction to the topic."

Short and to the point

"Got a great overview of pricing strategy. It's concise and easy to digest."

"Excellent short course."

"Valuable information delivered efficiently."

Instructor brings valuable industry experience

"Instructor clearly knows his stuff, pulled from real industry situations."

"Gained insights from 20+ years experience..."

"The advice is grounded in real-world practice."

"It's great to learn from someone with deep practical knowledge."

Provides helpful downloadable templates

"The templates are a huge plus. I can actually use them."

"Loved the P&L and Category Analysis templates."

"Templates provided are very practical."

"Having the templates makes applying the lessons much easier."

Focuses on real-world application

"I learned how to apply pricing principles directly to my job."

"Very practical, not bogged down in theory."

"Gives you actionable steps for creating a pricing strategy."

"The real-world examples made the concepts easy to grasp."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in How to Price Consumer Products (FMCG/CPG)? with these activities:

Review Basic Financial Accounting

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Strengthen your understanding of P&L statements, a crucial element in pricing strategy, by reviewing basic financial accounting principles.

Browse courses on Profit and Loss Statements

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Review the components of a P&L statement.
Practice calculating key financial ratios.
Identify the impact of pricing on profitability.

Read 'The Strategy and Tactics of Pricing'

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Gain a deeper understanding of pricing theory and strategy by reading a comprehensive book on the subject.

View The Strategy and Tactics of Pricing on Amazon

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Read the chapters on value-based pricing.
Summarize key concepts from each chapter.
Apply the concepts to real-world examples.

Analyze Competitor Pricing

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Solidify your understanding of competitive pricing by conducting a detailed analysis of your competitors' pricing strategies.

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Identify key competitors in your chosen market.
Collect pricing data for comparable products.
Analyze the pricing strategies of each competitor.
Document your findings in a report.

Three other activities

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Show all six activities

Write a Blog Post on Pricing Psychology

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Deepen your understanding of the psychological aspects of pricing by writing a blog post explaining key concepts and their impact on consumer behavior.

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Research the psychological principles of pricing.
Identify examples of these principles in action.
Write a blog post explaining the concepts.
Share your blog post on social media.

Develop a Pricing Strategy Presentation

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Synthesize your knowledge by creating a presentation outlining a comprehensive pricing strategy for a specific consumer product.

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Choose a consumer product to focus on.
Conduct market research to understand the target audience.
Develop a pricing strategy based on the course concepts.
Create a presentation outlining your strategy.
Present your strategy to peers for feedback.

Read 'Confessions of the Pricing Man'

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Gain practical insights into pricing strategies from a seasoned pricing expert by reading this book.

View Melania on Amazon

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Read the chapters on value creation.
Identify key takeaways from each chapter.
Reflect on how these insights apply to your work.

Career center

Learners who complete How to Price Consumer Products (FMCG/CPG)? will develop knowledge and skills that may be useful to these careers:

Pricing Manager

A Pricing Manager is directly responsible for setting and managing prices for a company's products or services. This course provides a comprehensive understanding of the factors that influence pricing decisions in the consumer goods industry. The course content, derived from extensive industry experience, offers practical insights into developing and implementing effective pricing strategies. This course directly addresses how to create and document a winning pricing strategy. Gaining a clear understanding of the components of a pricing strategy helps ensure focus when documenting it.

See salaries and explore the career path for Pricing Manager

Category Manager

A Category Manager is responsible for the strategy and profitability of a specific category of products, often within a consumer goods company. This course directly addresses the challenges faced by Category Managers, particularly in setting and managing product pricing. The course content, drawn from over 20 years of senior marketing and category management experience, provides invaluable insights. The provision of downloadable P&L and category analysis grid templates in Excel makes this course especially relevant, as these are tools used regularly by Category Managers. The course helps with understanding of pricing's impact on the product's profit and loss.

See salaries and explore the career path for Category Manager

Revenue Manager

Revenue Managers focus on maximizing revenue by optimizing pricing and inventory. Understanding the nuances of pricing consumer products is crucial for success in this role. This course directly addresses the core responsibilities of a Revenue Manager by providing practical insights into setting and managing product pricing. The course helps understand the financial implications of pricing decisions through the P&L sensitivity. The provision of downloadable P&L templates is particularly relevant, as these are tools commonly used by Revenue Managers. This course directly supports the capability on pricing and category management.

See salaries and explore the career path for Revenue Manager

Pricing Analyst

As a Pricing Analyst, you will be responsible for analyzing market trends and competitive pricing strategies to optimize pricing for consumer products. This course helps you understand the key factors that influence pricing strategies in the fast-moving consumer goods industry. The course's practical approach, focusing on real-world applications rather than academic theory, mirrors the demands of the role, which requires hands-on analysis and strategic thinking. The course emphasizes the understanding of the components of a pricing strategy. The P&L sensitivity analysis covered in the course directly translates to skills needed to assess the financial impact of pricing decisions.

See salaries and explore the career path for Pricing Analyst

Marketing Manager

Marketing Managers oversee the development and implementation of marketing campaigns. Pricing strategy is an important part of the marketing mix. This course equips Marketing Managers with a solid understanding of how to set and manage product pricing effectively. The course's focus on the six key factors that influence pricing helps you make informed decisions about pricing strategies. The practical example provided in the course enable you to translate theoretical concepts into actionable plans. This course directly addresses how to create and document a winning pricing strategy. Understanding the financial impact of changing key components, such as the OLA P&L sensitivity, from this course is highly relevant.

See salaries and explore the career path for Marketing Manager

Product Manager

Product Managers are responsible for the strategy, roadmap, and feature definition for a product or product line. Pricing is a key element of any product strategy. This course teaches you how to approach pricing decisions with a clear understanding of the market, costs, and competitive landscape. The course's emphasis on creating and documenting a winning pricing strategy provides a framework for developing pricing strategies. Learning how to understand the financial implications of pricing choices, particularly through the P&L lens, enables you to make data-driven decisions that impact product profitability. The practical approach of this course is very useful.

See salaries and explore the career path for Product Manager

Brand Manager

Brand Managers are tasked with developing and executing marketing strategies to build brand awareness and drive sales. Understanding pricing is crucial to the success of any brand. The course is helpful because it covers how brand strategy and positioning influence pricing decisions. By learning how to create and document a winning pricing strategy, a Brand Manager can better align pricing with the overall brand vision. The emphasis on practical application, using real-world examples, makes this course an excellent resource for those looking to enhance their brand management skills, since so much of it is reliant on data and analysis of that data. It enhances the ability to control the P&L.

See salaries and explore the career path for Brand Manager

Market Research Analyst

Market Research Analysts study market conditions to examine potential sales of a product or service. Pricing is a critical factor influencing consumer behavior and is thus important to analyze. This course helps Market Research Analysts understand the factors that go into creating a successful pricing strategy. Understanding the impact of category and competition pricing is helpful, and will permit better analysis of market trends. This course's focus on practical understanding rather than academic theory enables Market Research Analysts to interpret data more effectively and provide useful insights to decision-makers.

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Business Development Manager

Business Development Managers focus on identifying and pursuing growth opportunities for a company. Pricing strategy often plays a crucial role in attracting new customers and expanding market share. This course helps Business Development Managers understand how pricing impacts the bottom line and how to develop effective pricing strategies. Understanding the influence of brand strategy and positioning on pricing, as discussed in the course, is especially relevant for those seeking to develop new business opportunities. This course directly supports the capability on pricing and category management.

See salaries and explore the career path for Business Development Manager

Consultant

Consultants advise organizations on how to improve their performance and efficiency. Pricing strategy is often a key area where consultants can provide valuable insights. This course is helpful for Consultants because it provides a framework for developing effective pricing strategies. Understanding the six key factors that influence a pricing strategy, as covered in the course, enables you to provide data-driven recommendations to clients. The practical focus of the course helps ensure consultants can provide solutions that are immediately applicable. The course may help consultants understand how businesses approach and document a pricing strategy.

See salaries and explore the career path for Consultant

Sales Manager

Sales Managers lead sales teams and are responsible for achieving sales targets. A solid understanding of pricing strategies is essential for effective sales management. This course helps Sales Managers understand how pricing decisions impact sales volume and profitability. The course's practical approach, focusing on real-world examples, provides insights into how to negotiate pricing with customers. It also helps understand the financial impact of changing the four components of pricing. Understanding the influence of product cost on consumer pricing strategy is of particular benefit to Sales Managers.

See salaries and explore the career path for Sales Manager

Financial Analyst

Financial Analysts analyze financial data to provide insights and recommendations to management. Product pricing directly impacts a company's financial performance. This course will help Financial Analysts better understand how pricing decisions are made and how they affect profitability. The course content surrounding the P&L sensitivity analysis is particularly relevant for Financial Analysts, as it provides a framework for assessing the financial implications of different pricing scenarios. After taking the course, Financial Analysts may have a clearer understanding of the components of a pricing strategy.

See salaries and explore the career path for Financial Analyst

Business Strategist

Business Strategists develop long-term strategic plans for organizations. Pricing strategy is a key component of any successful business strategy. Understanding the six key factors that influence pricing strategy, as covered in the course, enables you to develop informed recommendations. The course helps understand how brand strategy and positioning influence consumer pricing strategy. This course may also help you understand how a business approaches and documents a pricing strategy.

See salaries and explore the career path for Business Strategist

Retail Buyer

Retail Buyers are responsible for selecting and purchasing products for retail sale. A firm grasp of pricing strategies is essential for negotiating favorable terms with suppliers and setting competitive prices for consumers. This course helps Retail Buyers understand the factors that influence pricing decisions in the consumer goods industry. Understanding category and competition pricing enables Retail Buyers to make informed purchasing decisions. Having a clear understanding of the components of a pricing strategy helps in being focused on the goal when documenting a pricing strategy.

See salaries and explore the career path for Retail Buyer

Supply Chain Manager

While Supply Chain Managers primarily focus on the flow of goods and materials, understanding pricing is crucial for optimizing costs and profitability. This course helps Supply Chain Managers gain insight into how product costs influence pricing decisions. Understanding how product cost influences a consumer pricing strategy, as emphasized in the course, is especially relevant for Supply Chain Managers. This course's focus on practical application in consumer goods makes it an invaluable resource for those looking to improve their understanding of pricing dynamics within the supply chain.

See salaries and explore the career path for Supply Chain Manager

How to Price Consumer Products (FMCG/CPG)?

What's inside

Learning objectives

Syllabus

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Reviews summary

Practical pricing for consumer products

Activities

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