Pricing in Alcoholic Beverages
Pricing for Beer, Wine, and Spirits Brands has long been a specialty for PriceBeam, with extensive experience both on the client side and with PriceBeam team members working in the industry too. Beverage manufacturers benefit from price optimization more than any other industry, but at the same time, it is often an incredibly challenging task.
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Challenges in Alcoholic Beverages Pricing
Setting the optimal price of beer, wine, or spirits brands is both important for the brand image and highly yielding for the bottom line. PriceBeam has worked with companies from a broad range of industries, and we apply the best practices from all industries when we help alcoholic beverage brands optimize their pricing.
Expensive whisky, vodka or, gin signals premium quality.
The price impacts the brand image. At the other end of the spectrum, a low price says low/average quality. Therefore, price is a massive determination of your brand image.
12% of consumer brands have a winning pricing strategy.
Pricing is often an aspect of product marketing majorly overlooked yet it can have some of the biggest impacts on a brand.
How PriceBeam Brings Value Find out more →
Price Positioning & Strategy
New Product Pricing
Understand consumers' willingness-to-pay for new products, and use such insights to optimize prices when launching innovative products.
Market Launch Pricing
Setting the right prices when launching into new markets is often a challenge for Beer, wine, and Spirits Brands. PriceBeam helps understand market differences and sets optimal price points for each.
Assortment Optimization
Use market research to understand the differences in willingness-to-pay across all items in an assortment, and optimize both prices and range.
Value Communicate
Understand the benefits and features that consumers value as well as those attributes that don't impact consumers' willingness-to-pay.
Price Increase
Prices should not be static. It is best practice to adjust prices upwards regularly, at least in line with competition and inflation, but often also higher thanks to brand innovations.
International Pricing
Prices vary across countries. Understand differences in willingness-to-pay per market and set prices accordingly.
Promotional Optimization
Understand consumers' potential reaction to different promotional mechanisms or discount levels, and optimize the overall revenue.
How Does It Work?
PriceBeam’s solution conducts extensive market research, collects and analyzes data before delivering a detailed report on your customer’s willingness to pay. This data will enable you to stick out from the competition, maximize profit, and set prices that aid your long-run brand positioning.
Define offering & target market
You describe your product/service on our cloud-based platform. You also define the target market to research.
Create Market Research
We add all the research details, statistical setup, etc. so you don't have to worry about it.
Conduct Market Research
We collect responses about the given product/service in the defined target market.
Analysis & Results
The results are aggregated, analyzed and presented in our cloud-based solution.
Why You Should Choose PriceBeam?
PriceBeam delivers strong value on a number of fronts, which is why our clients choose us.
Scientific Results
PriceBeam's studies ensure statistically significant results about willingness-to-pay.
Fast Insights
Results as fasts as 48 hours in B2C and 1-2 weeks in B2C.
Immediate Value
1% change in price delivers 11% improvement in value for the average company.
Easy to Use
You define the product and target market. PriceBeam takes care of the research and statistical details.
Global Reach
PriceBeam studies can be run in 127 countries. PriceBeam takes care of the localization.
Cost Effective
Using cloud technology, PriceBeam studies cost a fraction of classic, old-fashioned market research.
Ready to get started?
Book a call with one of our experts and see how we can help.
