Tag: Competitive Pricing Study

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End of an Era for TV Advertising? A Procurement View

As you make your way through the blog, you would have already got past many advertising on your desktop or mobile device right from website ads, Google paid search to promotional e-mails. You may struggle to remember the last time you saw a TV commercial or turned the TV on for that matter. If TV advertising is dead then why are TV advertising rates still high with brands willing to pay millions of dollars just to get their spot there? Although the market share of traditional media like radio and newspaper is dwindling, TV advertising is still unshaken, which can be justified by its steady growth rate with a CAGR of over 4% (SpendEdge Report: Global TV Advertising Market – Procurement Market Intelligence Report 2017-2021).

Request Free SampleGrowth Constraints of TV Advertising Market
Brands on an average spend 8-10% of their marketing budget for the TV medium. The high cost of purchasing TV advertisement is driving the brand managers to evaluate alternate advertising channels. Additionally, it is difficult to determine the ROI of TV ad campaigns making the companies skeptical about massive investments in this medium. The emergence of the alternate channel along with growing use of mobile devices could hinder the growth of this market.

Shift from TV to Online Platform?
It has been observed that brands are reallocating their TV advertising budgets to online platforms by analyzing the recent trends. As per the report, the global digital advertisement spend had surpassed global TV advertisement spend in 2016. However, TV advertising agencies can benefit from this trend as broadcasting agencies will lower the TV advertising costs to attract brands and sustain in the market. Additionally, the shift towards digital medium is moderate in APAC and MEA regions due to lack of penetration from online platforms.

Is the TV Advertising Market Growing?
The growth prospect for TV medium may look bleak, but certain factors are driving the growth of this market. The most important one being increasing penetration of DTH across emerging markets. DTH allows for increased transparency and broadcasts content based on personalization and customer recommendation to ensure targeted reach. The most exciting growth prospects come from online businesses who are opting for TV medium to reach the masses and thus contributing around US$860-US$865 on TV mediums in the US.

Read more about the procurement view of the TV advertising market along with supply market landscape, pricing strategies, pricing trends, negotiation strategies, cost modeling, and procurement insights in SpendEdge’s upcoming report on the global TV advertising market.

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IR35

Competitive Pricing Study Helps Oncology Drugs Manufacturer Identify Factors Influencing the Pricing Scenario

Category Overview

Currently, oncology drugs manufacturers are facing the need for competitive pricing studies to stay on top of the price fluctuations and offer consistent products for a lesser price without compromising on the quality. Additionally, the number of cancer patients is increasing, and the requirement for oncology drugs is at its peak with several numbers of manufacturers offering quick medical assistance. Competitive pricing studies help oncology drugs manufacturers to assess the factors including the on-going pricing trends and fluctuations influencing the pricing scenario of the industry.

Moreover, the competitive pricing studies offered by SpendEdge, help oncology drugs manufacturers to gain a superior competitive advantage over their peers in the oncology drugs market space.

The Procurement Pain Point and Insights Offered

A global oncology drugs manufacturer wanted to understand the pricing landscape to offer products for a lesser price without compromising on the quality and gain a competitive edge over their peers. Additionally, the client wanted to gain insights into the value chain cost analysis and evaluate the cost structure of the competitors. This would help them improve their pricing strategies across the supply chain.request free proposal

To cater to the business requirements of the client, the competitive pricing experts at SpendEdge tailored a two-step research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection procedures to address the issues of the client.

During the course of this competitive pricing study, the oncology drugs manufacturer was able to evaluate the principal factors influencing pricing landscape. Additionally, the client was able to assess their supply chain capabilities against their peers in the market space.

Fundamental questions answered in this competitive pricing study include

Competitive PricingBusiness Outcome

The competitive pricing engagement helped the oncology drugs manufacturer devise superior pricing strategies under fluctuating market conditions with the help of SpendEdge’s flexible modeling tool. This helped them reduce a significant amount of cost across the supply chain.

Want to know more about our competitive pricing solutions?

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IR7

Competitive Pricing Study Helps Tire Manufacturers Evaluate Factors Influencing the Pricing Landscape

Category Overview

The global tire industry is expected to grow steadily over the next few years with the increasing focus on fuel efficiency and growing demand for low-rolling-resistance tires by governments across the globe. Additionally, stringent environmental regulations and increasing consumer preference for eco-friendly tires are expected to the boost the growth of the tire industry across the globe. However, according to SpendEdge’s competitive pricing specialists, the increasing pressure to reduce cost, achieve shortened order-to-delivery cycles, and ensure a highly efficient logistics network to distribute tires are some of the major reasons for the sluggish growth of the industry.

As a result of such challenges, tire manufacturers have started opting for competitive pricing studies to evaluate the factors influencing the pricing landscape of the industry. Moreover, SpendEdge’s competitive pricing solutions help tire manufacturers assess the on-going pricing trends and fluctuations in the market space.

The Procurement Pain Point and Insights Offered

A global tire manufacturer wanted to gain insights into the value chain cost analysis and estimate the cost structure of the competitors. This would help them enhance their pricing strategies in the coming years. The client also wanted to evaluate the aspects influencing the pricing landscape in this market space.request free proposal

To cater to the category requirements of the client, the competitive pricing specialists at SpendEdge followed a two-step research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection procedures to address the issues of the client.

During the course of this competitive pricing study, the tire manufacturer was able to assess their supply chain capabilities and compare the level of competence in the market space. Additionally, the client effectively reduced costs across the supply chain as they discovered their significant areas of spend.

Fundamental questions answered in this competitive pricing study include

competitive pricingBusiness Outcome

This competitive pricing engagement helped the tire manufacturer evaluate the prevailing factors influencing pricing landscape in the market space. Moreover, the flexible modeling tool suggested by SpendEdge also helped the client gauge pricing strategies under fluctuating market conditions.

To know more about our competitive pricing solutions

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IR25

Competitive Pricing and its Importance in the Retail Industry

The retail industry is a highly competitive space crowded with several big and small market players struggling to gain proper traction in the market. With the rise of digital platforms, growth of e-commerce models, and the popularity of omnichannel business strategies in the retail industry, the market players have been compelled to revamp their pricing strategies SE_Demo2and business processes. To gain a competitive advantage and devise effective pricing strategies, retail sector companies can leverage supply market intelligence and analytics tools and methodologies to gain valuable insights and optimize their approach.

Competitive Pricing in the Retail Sector

Companies in the retail sector sell finished products and services to end consumers – the last link in the supply chain. The retail industry’s growth can be attributed to a set of factors such as growing population, high disposable income, and market growth opportunities. Apart from these, the industry has to overcome challenges such as a dearth of talent and sluggish economic growth of countries across the globe. To overcome such challenges and ensure profitability, players in the retail industry must opt for competitive pricing studies to identify factors that impact the pricing landscape. The competitive pricing solutions and tools help the business to assess the pricing trends and latest developments in the retail sector. Organizations are now increasingly turning to value chain cost analysis and competitive pricing studies to gain actionable insights that will help them gauge the competitor’s pricing strategy. These strategies and  tools offer flexibility to businesses that help them to evaluate alternative pricing strategies under varying market conditions and gain a competitive edge in the market by developing a robust supply chain.

Recently, SpendEdge’s competitive pricing specialists helped a leading company in the retail industry to understand the market landscape, identify the factors that influence the competitors pricing strategy, evaluate their cost structure, streamline their supply chain processes, and leverage supply market intelligence to enhance their pricing and go-to-market strategies. Read the complete case study here.

The SpendEdge Advantage

Innovative procurement intelligence solutions help organizations build structural capabilities, improve operational efficiency, and identify cost-saving opportunities to make informed business decisions.

“Every organization needs smart procurement intelligence to be at the top of their game and redefine their supply chain activities,” says senior procurement analyst at SpendEdge

At SpendEdge, we believe in achieving sourcing and procurement excellence with robust, real-time market intelligence solutions that offer actionable insights to procurement professionals which help them in making important business decisions. We are a global strategic partner for leading Fortune 500 firms across industries such as pharmaceutical, transportation, and retail with proficiency in supply market intelligence, spend analysis and benchmarking, and category management.

 

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Competitive Pricing Study for a Retail Sector Client Helps Assess Factors Influencing the Pricing Landscape

Category Overview

The global retail sector comprises of companies and individuals engaged in the selling of finished products to end user consumers. Factors such as increasing population, higher disposable income, GDP growth, and increasing customer spending are driving the retail sector and providing opportunities for the retail sector players. However, according to SpendEdge’s competitive pricing specialists, the global economic recession, higher unemployment rates, and inflation are some of the reasons behind the retail sector’s sluggish growth.

As a result of such challenges, many retail firms have started opting for competitive pricing studies to assess factors influencing the pricing landscape. Moreover, the competitive pricing solutions offered by SpendEdge also help retail sector players evaluate pricing trends and fluctuations in the market space.

The Procurement Pain Point and Insights Offered

A leading player in the retail sector wanted to assess the factors influencing the pricing landscape in the market space. Additionally, the retail sector client wanted to gain insights on value chain cost analysis and evaluate the cost structure of the competitors. They also wanted recommendations on tools to enhance their pricing strategies in the coming years. request free proposal

During the course this competitive pricing study, the retail sector client was able to assess the factors influencing the pricing landscape in the market space. Additionally, the client also gained insights on the value chain cost analysis. This helped the client evaluate the cost structure of their competitors. The retail sector client was also provided with tools to enhance their pricing strategies to improve their foothold in this market space.

Key questions answered in this competitive pricing study include

competitive pricingBusiness Outcome

The competitive pricing analysis study helped the retail sector client assess factors influencing the pricing landscape in the market space. Additionally, the flexible modeling tool offered by SpendEdge helped the client evaluate pricing strategies under changing market conditions.

Want to know more about our competitive pricing solutions?

request free proposal

Request free proposal