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Cosmetics

Cosmetics are in the lifestyle and brand business, therefore pricing not only determines the profit you make when considering costs and customer preferences, but the price can suggest quality or exclusiveness of a cosmetic brand. Individuals respond emotionally to brands which is why customers are willing to pay a higher price for certain branding or characteristics regardless of the markup price.

PriceBeam Pricing for Cosmetics

Challenges in Cosmetic Product Pricing

PriceBeam has worked with companies from a broad range of industries, and we apply the best practices from all industries when we help FMCG/CPG firms optimize their pricing. In that way, we continuously improve and innovate our current pricing method, making sure it stays ahead of the game and is adjusted to prevailing industry trends.

Transparency in product costs and ingredients.

Cosmetic brands are being increasingly transparent about costs, due to an increase in demand for transparency from customers in terms of product costs and ingredients, and this leads to a greater need to find the optimal price for your cosmetic brand products.

Setting one price that unifies all internal objectives.

One price that simultaneously boosts top-line growth, is aligned with the brand positioning and increases penetration and growth. Our pricing solution addresses this challenge by using data and statistics to find a price that does just that.

How PriceBeam Brings Value                                   Find out more →

  

Price Positioning & Strategy

 Setting the overall price position against other products in the assortment, or against competitors, is always a key challenge in Cosmetics. 
 
 
 
   

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 in Cosmetic companies. 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. 

 
    
 

Brand Health & Pricing

The price is important across the entire Marketing Mix, including the promotion and branding of a product or service.

 
  

Customer Segmentation

Understanding different customer segments' willingness-to-pay is one of the most powerful tools for increased revenue and profit. After all, different customers have different levels of willingness-to-pay.

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.

How PriceBeam Works

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.

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