Insider Advertising: CMOs need to get smart on price

  • Date: 15-Jul-2021
  • Source: Business Insider
  • Sector:Economy
  • Country:Middle East
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Insider Advertising: CMOs need to get smart on price

Hello and welcome to Insider Advertising, a weekly newsletter where I break down the most important news and trends on Madison Avenue and beyond. I'm Lara O'Reilly, Insider's media and advertising editor. Thanks so much to everyone who offered their feedback on last week's edition. Please do continue to send your comments, tips, and pun suggestions to . On with this week's news: But this time it's different: between May and June this year "” and at a higher rate than analysts had forecast. While lots of companies raise their prices at a regular frequency, businesses this year are also contending with and that are eating into their margins. Many marketers and academics consider "Pricing" as the most important of the "4Ps of marketing" (product, price, place, promotion) "” or more specifically, the ability to build a brand strong enough to maintain sustainable pricing power. . Consumer-products companies also set out intentions earlier this year to raise their prices. Marketing consultant and former AB InBev CMO Chris Burggraeve tells me the topic of pricing is coming up at every board he speaks with right now: "In unusual times like this, more than ever." Burggraeve, who recently published a book entitled