Solid Waste Equipment Manufacturer
How Do My Customers Perceive My Value Versus My Competitors?
Market research uncovered pricing opportunities and strong brand perception in the market
Shaping Your Approach for Long-Term Sustainable Success
A clear path to achieving results
The organization faced challenges related to competitor pricing, market share, and brand perceptions, compounded by internal disagreements over the feasibility of implementing back-order price increases and surcharges. To address these concerns, in-depth interviews were conducted to explore customer sentiments on pricing and brand perceptions, complemented by a quantitative phone survey targeting end users to assess price positioning and key purchase drivers. The research revealed an opportunity to implement targeted price increases on existing orders while confirming that the current pricing strategy effectively sustains a strong price-to-value proposition in the market.
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Situation
Strategic Challenges in Pricing, Market Dynamics, and Customer Understanding
The organization faces a series of complex issues that span pricing strategies, internal alignment, and customer behavior insights, all of which need to be addressed to maintain competitiveness and profitability.
- Concerns around competitor pricing, market share, and brand perceptions
- Competing beliefs across the organization around the feasibility and viability of implementing back-order price increases, surcharges, and unforeseen fees
- Limited understanding of the essential factors influencing customer purchase behavior
Quantitative Analysis
Insight into Retroactive Price Adjustments: Trends and Responses
Approach
Comprehensive Research on Pricing, Brand Sentiments, and Customer Reactions
The organization has undertaken a combination of qualitative and quantitative research methods to gain deeper insights into pricing strategies, customer reactions, and brand perceptions, enabling more informed decision-making.
- Conducted in-depth interviews to gather primary qualitative research around pricing and brand sentiments and customer reactions to price changes
- Conducted a quantitative phone survey on specific end users to understand price positioning, key purchase drivers, and brand perceptions
Representative Customer Insights
I think once we have a contract in place if they try to raise pricing, we will not honor it.
Interview #11
We would accept these increases. The government bid process is lengthy and there are already terrible lead-times in the industry. The re-bid process is brutal.
Interview #18
Competitor Rankings
Rankings Based on Key Metrics
| Client (N=38) | Provider A (N=14) | Provider B (N=60) | Provider C (N=61) | Provider D (N=3) | Other/Provider E (N=4) | Other/Provider F (N=2) | |
|---|---|---|---|---|---|---|---|
| Price | 8.8 | 8.3 | 8.1 | 8.4 | 8.6 | 8.3 | 9.0 |
| Availability/Lead Time | 8.5 | 8.8 | 8.0 | 8.3 | 7.4 | 8.3 | 8.0 |
| Fuel Efficiency | 8.9 | - | 7.9 | 8.9 | 8.0 | - | - |
| Ease of Maintenance | 8.2 | 8.6 | 8.1 | 8.3 | 8.0 | 8.0 | 9.0 |
| Warranty Coverage | 8.5 | 7.0 | 9.0 | 7.9 | 8.0 | 8.0 | 9.0 |
| Manufacturer Brand Reputation | 8.0 | 8.0 | 8.6 | 8.4 | 8.0 | 8.5 | - |
| Product Technologies | 9.2 | 8.0 | 8.2 | 8.7 | 8.3 | 9.0 | 8.0 |
| Safety Features | 8.9 | 8.3 | 8.5 | 8.7 | 8.3 | 9.0 | 8.0 |
| Vehicle Capacity | 10.0 | - | 8.0 | 8.0 | 8.0 | - | - |
| Reliability | 9.5 | - | 8.5 | 9.0 | 9.0 | - | - |
Impact
Strategic Pricing Insights and Opportunities for Value Optimization
Recent research and analysis have revealed key opportunities for targeted price adjustments and validated the strength of the current pricing strategy, ensuring continued competitiveness and value in the market.
- Unveiled opportunity to conduct targeted price increases on existing orders
- Proved that current pricing maintains a robust price-to-value proposition in the market
Key Findings
Strong pricing perception and competitive advantage across metrics
Client was ranked higher on price against brands positioned as being lower-priced
Client ranked highest on the average benefit scale compared to major competitors
There is no identifiable weakness in customer perceptions of the client, including its price position
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